Grocery Outlet (NASDAQ:GO) Sets New 52-Week Low After Insider Selling

Grocery Outlet Holding Corp. (NASDAQ:GO)’s stock price reached a new 52-week low on Thursday after an insider sold shares in the company. The stock traded as low as $18.05 and last traded at $18.06, with a volume of 16380 shares trading hands. The stock had previously closed at $18.25.

Specifically, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $18.44, for a total transaction of $1,844,000.00. Following the completion of the sale, the director now directly owns 70,938 shares in the company, valued at $1,308,096.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the completion of the transaction, the director now owns 70,938 shares in the company, valued at approximately $1,340,728.20. The disclosure for this sale can be found here. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $18.83, for a total transaction of $1,883,000.00. Following the completion of the sale, the director now owns 70,938 shares in the company, valued at approximately $1,335,762.54. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

Several research firms have recently commented on GO. The Goldman Sachs Group reduced their target price on Grocery Outlet from $24.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, May 9th. UBS Group reduced their price objective on shares of Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Craig Hallum downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and dropped their target price for the stock from $32.00 to $20.00 in a research report on Wednesday, July 31st. Telsey Advisory Group cut their target price on shares of Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Roth Capital upgraded Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $22.75.

Grocery Outlet Price Performance

The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.30 and a current ratio of 1.25. The company’s fifty day moving average price is $20.36 and its 200 day moving average price is $23.46. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 3.55 and a beta of 0.09.

Grocery Outlet (NASDAQ:GO) last issued its earnings results on Tuesday, August 6th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a return on equity of 5.46% and a net margin of 1.60%. Grocery Outlet’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 earnings per share. Equities research analysts expect that Grocery Outlet Holding Corp. will post 0.69 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GO. Allspring Global Investments Holdings LLC acquired a new stake in shares of Grocery Outlet in the 1st quarter worth approximately $25,000. Innealta Capital LLC bought a new stake in Grocery Outlet during the second quarter worth approximately $38,000. Canada Pension Plan Investment Board bought a new stake in Grocery Outlet during the second quarter worth approximately $82,000. Daiwa Securities Group Inc. acquired a new stake in Grocery Outlet in the first quarter worth approximately $127,000. Finally, Headlands Technologies LLC boosted its stake in Grocery Outlet by 32,200.0% during the 4th quarter. Headlands Technologies LLC now owns 4,845 shares of the company’s stock valued at $131,000 after purchasing an additional 4,830 shares in the last quarter. 99.87% of the stock is currently owned by institutional investors.

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. operates as a retailer of consumables and fresh products sold through independently operated stores in the United States. Its stores offer products in various categories, such as dairy and deli, produce, floral, fresh meat, seafood products, grocery, general merchandise, health and beauty care, frozen food, beer and wine, and ethnic products.