Grocery Outlet Holding Corp. (NASDAQ:GO) Receives $14.50 Consensus PT from Analysts

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have received a consensus rating of “Hold” from the thirteen analysts that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $14.50.

GO has been the subject of a number of research analyst reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $17.00 price target on shares of Grocery Outlet in a research note on Wednesday, December 3rd. Zacks Research lowered shares of Grocery Outlet from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Morgan Stanley dropped 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. DA Davidson restated a “neutral” rating and set a $15.00 price target on shares of Grocery Outlet in a research note on Thursday, December 4th. Finally, Deutsche Bank Aktiengesellschaft set a $11.00 price objective on shares of Grocery Outlet in a research note on Thursday, January 8th.

Hedge Funds Weigh In On Grocery Outlet

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

Grocery Outlet Price Performance

Shares of Grocery Outlet stock opened at $10.28 on Thursday. Grocery Outlet has a 52-week low of $8.96 and a 52-week high of $19.41. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.25 and a current ratio of 1.30. The company has a fifty day moving average of $9.98 and a 200-day moving average of $13.34. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -205.60, a price-to-earnings-growth ratio of 2.05 and a beta of 0.49.

Grocery Outlet Company Profile

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.