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

Grocery Outlet Holding Corp. (NASDAQ:GO) has been assigned an average recommendation of “Hold” from the twelve ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $18.00.

Several brokerages recently commented on GO. Roth Mkm reduced their price objective on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Bank of America downgraded shares of Grocery Outlet from a “buy” rating to a “neutral” rating and reduced their price target for the company from $29.00 to $17.00 in a research report on Wednesday, October 30th. Loop Capital assumed coverage on Grocery Outlet in a report on Thursday, October 17th. They issued a “hold” rating and a $17.00 price target on the stock. UBS Group dropped their price objective on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Finally, TD Cowen downgraded Grocery Outlet from a “buy” rating to a “hold” rating and decreased their target price for the stock from $25.00 to $16.00 in a research report on Wednesday, November 6th.

Insider Activity

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of Grocery Outlet stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $18.44, for a total transaction of $1,844,000.00. Following the transaction, the director now directly owns 70,938 shares of the company’s stock, valued at $1,308,096.72. The trade was a 58.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Erik D. Ragatz acquired 110,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was acquired at an average cost of $18.25 per share, with a total value of $2,007,500.00. Following the transaction, the director now directly owns 539,785 shares of the company’s stock, valued at approximately $9,851,076.25. This represents a 25.59 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GO. Vanguard Group Inc. increased its stake in shares of Grocery Outlet by 0.7% in the first quarter. Vanguard Group Inc. now owns 9,333,850 shares of the company’s stock worth $268,628,000 after buying an additional 60,830 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Grocery Outlet by 22.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,613,617 shares of the company’s stock valued at $79,933,000 after purchasing an additional 655,065 shares in the last quarter. Capital World Investors grew its stake in Grocery Outlet by 281.4% in the first quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock worth $103,023,000 after purchasing an additional 2,641,016 shares in the last quarter. Van Berkom & Associates Inc. increased its holdings in Grocery Outlet by 21.1% in the second quarter. Van Berkom & Associates Inc. now owns 3,498,533 shares of the company’s stock valued at $77,388,000 after buying an additional 609,871 shares during the last quarter. Finally, State Street Corp raised its stake in Grocery Outlet by 0.6% during the third quarter. State Street Corp now owns 3,407,152 shares of the company’s stock valued at $59,796,000 after buying an additional 21,237 shares in the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Grocery Outlet Trading Up 0.2 %

Shares of GO stock opened at $17.86 on Tuesday. Grocery Outlet has a twelve month low of $13.60 and a twelve month high of $29.80. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average is $16.64 and its two-hundred day moving average is $19.21. The company has a market capitalization of $1.73 billion, a P/E ratio of 35.02, a price-to-earnings-growth ratio of 4.45 and a beta of 0.13.

Grocery Outlet (NASDAQ:GO) last issued its earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 earnings per share. Equities analysts forecast that Grocery Outlet will post 0.63 EPS for the current year.

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.