Grocery Outlet (NASDAQ:GO) Cut to Hold at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft downgraded shares of Grocery Outlet (NASDAQ:GO) from a buy rating to a hold rating in a research report released on Wednesday morning, Marketbeat.com reports. The firm currently has $12.00 price objective on the stock.

GO has been the topic of a number of other research reports. Wells Fargo & Company lowered their price objective on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. The Goldman Sachs Group lowered their price objective on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a research report on Friday, November 1st. Telsey Advisory Group restated a “market perform” rating and set a $18.00 price objective on shares of Grocery Outlet in a research report on Wednesday, January 22nd. TD Cowen downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and lowered their price objective for the company from $25.00 to $16.00 in a research report on Wednesday, November 6th. Finally, UBS Group lowered their price objective on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $15.25.

Grocery Outlet Trading Up 0.3 %

Shares of NASDAQ GO opened at $11.87 on Wednesday. The firm’s 50 day moving average price is $15.95 and its 200-day moving average price is $17.05. The company has a market cap of $1.15 billion, a PE ratio of 23.27, a P/E/G ratio of 9.08 and a beta of 0.32. Grocery Outlet has a 52-week low of $10.26 and a 52-week high of $29.13. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46.

Insider Transactions at Grocery Outlet

In other news, CFO Christopher M. Miller acquired 10,000 shares of Grocery Outlet stock in a transaction dated Thursday, February 27th. The stock was purchased at an average cost of $11.68 per share, with a total value of $116,800.00. Following the completion of the purchase, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $116,800. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of Grocery Outlet

A number of hedge funds and other institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Grocery Outlet by 8.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 313,642 shares of the company’s stock valued at $4,896,000 after acquiring an additional 23,606 shares in the last quarter. Voloridge Investment Management LLC grew its stake in Grocery Outlet by 28.8% during the fourth quarter. Voloridge Investment Management LLC now owns 1,239,352 shares of the company’s stock valued at $19,346,000 after acquiring an additional 277,489 shares in the last quarter. Twinbeech Capital LP purchased a new position in Grocery Outlet during the fourth quarter valued at $4,040,000. Two Sigma Advisers LP purchased a new position in Grocery Outlet during the fourth quarter valued at $1,033,000. Finally, Two Sigma Investments LP grew its stake in Grocery Outlet by 188.3% during the fourth quarter. Two Sigma Investments LP now owns 396,445 shares of the company’s stock valued at $6,189,000 after acquiring an additional 258,913 shares in the last quarter. 99.87% of the stock is owned by hedge funds and other institutional investors.

About Grocery Outlet

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.