The Goldman Sachs Group Cuts Grocery Outlet (NASDAQ:GO) Price Target to $11.00

Grocery Outlet (NASDAQ:GO) had its price objective decreased by The Goldman Sachs Group from $14.00 to $11.00 in a research report released on Thursday,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the stock.

Other analysts have also issued reports about the stock. Craig Hallum reduced their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. UBS Group reduced their price objective on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Roth Mkm reduced their price target 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. Wells Fargo & Company reduced their price target on shares of Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a research note on Wednesday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $15.25.

Grocery Outlet Stock Up 0.3 %

NASDAQ:GO opened at $11.87 on Thursday. The firm has a market cap of $1.16 billion, a P/E ratio of 23.27, a P/E/G ratio of 9.08 and a beta of 0.32. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. Grocery Outlet has a fifty-two week low of $10.26 and a fifty-two week high of $29.13. The firm has a 50-day simple moving average of $15.95 and a two-hundred day simple moving average of $17.03.

Insider Activity at Grocery Outlet

In other news, CFO Christopher M. Miller purchased 10,000 shares of the stock in a transaction on Thursday, February 27th. The shares were acquired at an average price of $11.68 per share, with a total value of $116,800.00. Following the completion of the acquisition, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $116,800. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Grocery Outlet

Large investors have recently added to or reduced their stakes in the company. Creative Planning purchased a new position in shares of Grocery Outlet in the third quarter worth $198,000. Blue Trust Inc. increased its position in Grocery Outlet by 76.6% during the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Grocery Outlet during the third quarter valued at $801,000. Nisa Investment Advisors LLC bought a new position in shares of Grocery Outlet in the third quarter worth about $181,000. Finally, Pallas Capital Advisors LLC bought a new position in shares of Grocery Outlet in the third quarter worth about $474,000. Hedge funds and other 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.