Grocery Outlet Holding Corp. (NASDAQ:GO) Receives Consensus Rating of "Hold" from Brokerages

Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) has been assigned an average rating of "Hold" from the thirteen brokerages that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $15.25.

Several brokerages recently issued reports on GO. Wells Fargo & Company cut their price objective on Grocery Outlet from $23.00 to $18.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Telsey Advisory Group decreased their target price on shares of Grocery Outlet from $18.00 to $16.00 and set a "market perform" rating for the company in a research note on Wednesday, February 26th. Morgan Stanley dropped their target price on shares of Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating for the company in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft lowered Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 target price for the company. in a report on Wednesday, February 26th. Finally, Bank of America lowered their price target on Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th.

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Insider Activity at Grocery Outlet

In related news, EVP Steven K. Wilson sold 6,477 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total value of $73,449.18. Following the completion of the transaction, the executive vice president now directly owns 173,605 shares of the company's stock, valued at approximately $1,968,680.70. This trade represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Erik D. Ragatz bought 165,000 shares of the company's stock in a transaction on Friday, February 28th. The stock was bought at an average price of $12.25 per share, for a total transaction of $2,021,250.00. Following the completion of the purchase, the director now directly owns 201,500 shares in the company, valued at approximately $2,468,375. This represents a 452.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 200,000 shares of company stock worth $2,435,050 and sold 17,756 shares worth $216,892. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Grocery Outlet

A number of institutional investors and hedge funds have recently bought and sold shares of GO. Thrivent Financial for Lutherans increased its stake in Grocery Outlet by 5.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 209,531 shares of the company's stock worth $3,677,000 after buying an additional 11,615 shares during the period. Quest Partners LLC purchased a new position in Grocery Outlet during the 3rd quarter worth $266,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Grocery Outlet in the 3rd quarter valued at approximately $441,000. Charles Schwab Investment Management Inc. lifted its position in shares of Grocery Outlet by 14.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,170,470 shares of the company's stock valued at $20,542,000 after acquiring an additional 147,312 shares during the period. Finally, Cerity Partners LLC raised its holdings in Grocery Outlet by 887.1% during the third quarter. Cerity Partners LLC now owns 105,675 shares of the company's stock worth $1,855,000 after purchasing an additional 94,969 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Grocery Outlet Price Performance

GO stock traded up $0.07 during mid-day trading on Monday, reaching $12.97. The company's stock had a trading volume of 2,223,621 shares, compared to its average volume of 2,055,961. Grocery Outlet has a fifty-two week low of $10.26 and a fifty-two week high of $29.13. 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 company's 50 day moving average is $14.67 and its two-hundred day moving average is $16.28. The stock has a market cap of $1.26 billion, a PE ratio of 25.43, a P/E/G ratio of 9.08 and a beta of 0.36.

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.