Grocery Outlet (NASDAQ:GO) Price Target Lowered to $15.00 at Telsey Advisory Group

Grocery Outlet (NASDAQ:GO) had its target price decreased by Telsey Advisory Group from $17.00 to $15.00 in a research report released on Tuesday morning, Marketbeat Ratings reports. Telsey Advisory Group currently has an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the company. Zacks Research cut Grocery Outlet from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 14th. TD Cowen decreased their price target on Grocery Outlet from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Grocery Outlet in a research report on Thursday, January 22nd. Morgan Stanley cut their target price on shares of Grocery Outlet from $14.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 15th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $15.00 target price on shares of Grocery Outlet in a research note on Thursday, December 4th. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Grocery Outlet has an average rating of “Hold” and an average target price of $14.32.

Grocery Outlet Price Performance

GO opened at $10.04 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.30 and a quick ratio of 0.25. The stock has a market capitalization of $985.33 million, a P/E ratio of -200.80, a price-to-earnings-growth ratio of 2.05 and a beta of 0.49. The company’s 50 day simple moving average is $9.93 and its 200-day simple moving average is $13.30. Grocery Outlet has a one year low of $8.96 and a one year high of $19.41.

Institutional Trading of Grocery Outlet

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Grocery Outlet by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 11,255,936 shares of the company’s stock worth $113,685,000 after acquiring an additional 213,325 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Grocery Outlet by 5.0% in the third quarter. Dimensional Fund Advisors LP now owns 4,619,851 shares of the company’s stock worth $74,149,000 after purchasing an additional 221,693 shares during the period. Marshall Wace LLP boosted its position in shares of Grocery Outlet by 0.5% during the third quarter. Marshall Wace LLP now owns 4,577,371 shares of the company’s stock worth $73,467,000 after purchasing an additional 20,819 shares in the last quarter. State Street Corp boosted its position in shares of Grocery Outlet by 11.8% during the fourth quarter. State Street Corp now owns 4,375,319 shares of the company’s stock worth $44,191,000 after purchasing an additional 462,212 shares in the last quarter. Finally, Van Berkom & Associates Inc. grew its holdings in shares of Grocery Outlet by 2.1% in the 4th quarter. Van Berkom & Associates Inc. now owns 3,836,651 shares of the company’s stock valued at $38,750,000 after buying an additional 79,629 shares during the period. 99.87% of the stock is owned by institutional investors.

About Grocery Outlet

Grocery Outlet Holding Corp. (NASDAQ: GO) is a specialty discount retailer that offers consumers deeply discounted groceries by purchasing excess inventory, closeouts, and overstocks from manufacturers and distributors. Headquartered in Emeryville, California, the company operates two primary banners—Grocery Outlet and Fresh2Go—with a combined footprint of more than 400 stores. Its product assortment spans fresh produce, meat, dairy, bakery items, household staples, natural and organic offerings, and select specialty products, all sold at significant markdowns compared to conventional supermarkets.

The company’s unique buying model enables it to source inventory through opportunistic purchases of surplus freight, discontinued items, and closeout deals, which it then passes on as savings to its customers.