Grocery Outlet (NASDAQ:GO) Stock Price Down 6.5% Following Insider Selling

Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) shares traded down 6.5% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $12.09 and last traded at $12.05. 303,531 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 2,022,198 shares. The stock had previously closed at $12.88.

Specifically, EVP Steven K. Wilson sold 6,682 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $13.16, for a total transaction of $87,935.12. Following the completion of the sale, the executive vice president now directly owns 166,923 shares of the company's stock, valued at approximately $2,196,706.68. This trade represents a 3.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Lindsay E. Gray sold 2,741 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total value of $31,082.94. Following the sale, the senior vice president now directly owns 41,448 shares of the company's stock, valued at $470,020.32. This represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, EVP Steven K. Wilson sold 6,477 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total transaction of $73,449.18. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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Analysts Set New Price Targets

GO has been the subject of a number of research analyst reports. Telsey Advisory Group decreased their target price on Grocery Outlet from $18.00 to $16.00 and set a "market perform" rating for the company in a research report on Wednesday, February 26th. Morgan Stanley reduced their price target on Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company reduced their price target 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. Deutsche Bank Aktiengesellschaft lowered Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 price target for the company. in a research report on Wednesday, February 26th. Finally, Bank of America reduced their price target on Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $15.25.

Grocery Outlet Stock Down 3.5 %

The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The stock has a market cap of $1.17 billion, a PE ratio of 23.51, a P/E/G ratio of 9.08 and a beta of 0.36. The business has a 50 day moving average price of $15.25 and a 200 day moving average price of $16.61.

Institutional Trading of Grocery Outlet

Hedge funds have recently modified their holdings of the stock. State of New Jersey Common Pension Fund D raised its holdings in Grocery Outlet by 28.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 111,500 shares of the company's stock worth $1,957,000 after purchasing an additional 24,672 shares during the period. Entropy Technologies LP acquired a new position in Grocery Outlet in the 3rd quarter worth about $258,000. Victory Capital Management Inc. raised its holdings in Grocery Outlet by 23.2% in the 3rd quarter. Victory Capital Management Inc. now owns 915,119 shares of the company's stock worth $16,060,000 after purchasing an additional 172,050 shares during the period. Thrivent Financial for Lutherans raised its holdings in Grocery Outlet by 5.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 209,531 shares of the company's stock worth $3,677,000 after purchasing an additional 11,615 shares during the period. Finally, Quest Partners LLC acquired a new position in Grocery Outlet in the 3rd quarter worth about $266,000. Hedge funds and other institutional investors own 99.87% of the company's stock.

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.