Grocery Outlet Holding Corp. (NASDAQ:GO) Receives Consensus Rating of “Hold” from Brokerages

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have earned a consensus rating of “Hold” from the fourteen brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $15.46.

Several brokerages recently commented on GO. Telsey Advisory Group reduced their target price on shares of Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating for the company in a report on Wednesday, February 26th. Jefferies Financial Group upgraded shares of Grocery Outlet from a “hold” rating to a “buy” rating and increased their price objective for the stock from $13.00 to $18.00 in a research note on Wednesday. Morgan Stanley lowered their target price on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft cut Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a research report on Wednesday, February 26th. Finally, Bank of America dropped their price objective on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th.

Grocery Outlet Trading Up 3.6 %

GO opened at $15.16 on Friday. The firm’s fifty day simple moving average is $13.76 and its 200 day simple moving average is $15.95. The stock has a market capitalization of $1.49 billion, a P/E ratio of 29.73, a P/E/G ratio of 9.08 and a beta of 0.40. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. Grocery Outlet has a 12 month low of $10.26 and a 12 month high of $27.64.

Insider Buying and Selling

In other news, CFO Christopher M. Miller acquired 10,000 shares of the stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $11.68 per share, for a total transaction of $116,800.00. Following the transaction, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $116,800. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth W. Alterman bought 25,000 shares of Grocery Outlet stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of $11.88 per share, with a total value of $297,000.00. Following the transaction, the director now owns 64,592 shares of the company’s stock, valued at $767,352.96. This trade represents a 63.14 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 200,000 shares of company stock valued at $2,435,050 and sold 17,756 shares valued at $216,892. 4.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GO. Decker Retirement Planning Inc. bought a new stake in shares of Grocery Outlet during the 4th quarter worth $31,000. Aster Capital Management DIFC Ltd bought a new position in shares of Grocery Outlet in the fourth quarter worth about $41,000. Quadrant Capital Group LLC boosted its stake in shares of Grocery Outlet by 276.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company’s stock valued at $43,000 after purchasing an additional 2,036 shares in the last quarter. KBC Group NV grew its holdings in shares of Grocery Outlet by 62.7% during the 4th quarter. KBC Group NV now owns 4,506 shares of the company’s stock valued at $70,000 after purchasing an additional 1,736 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Grocery Outlet by 236.0% during the 1st quarter. GAMMA Investing LLC now owns 5,188 shares of the company’s stock worth $73,000 after purchasing an additional 3,644 shares in the last quarter. Institutional investors own 99.87% of the company’s stock.

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.