Grocery Outlet (NASDAQ:GO) Shares Up 4.6% - Still a Buy?

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) rose 4.6% during trading on Wednesday . The company traded as high as $12.64 and last traded at $12.77. Approximately 163,141 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 2,044,771 shares. The stock had previously closed at $12.21.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GO shares. Wells Fargo & Company dropped their price target on Grocery Outlet from $23.00 to $18.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley reduced their price target on shares of Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating for the company in a report on Wednesday, February 26th. Telsey Advisory Group dropped their price objective on shares of Grocery Outlet from $18.00 to $16.00 and set a "market perform" rating on the stock in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft lowered shares of Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 target price for the company. in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group dropped their price target on shares of Grocery Outlet from $14.00 to $11.00 and set a "sell" rating on the stock in a research note on Thursday, February 27th. 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $15.25.

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Grocery Outlet Trading Up 2.2 %

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 9.08 and a beta of 0.36. The business has a fifty day moving average of $14.55 and a 200-day moving average of $16.23.

Insiders Place Their Bets

In other news, EVP Steven K. Wilson sold 6,682 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $13.16, for a total transaction of $87,935.12. Following the sale, the executive vice president now owns 166,923 shares in the company, valued at $2,196,706.68. The trade was a 3.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher M. Miller acquired 10,000 shares of the firm's stock in a transaction that occurred on 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 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 disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 200,000 shares of company stock worth $2,435,050 and have sold 17,756 shares worth $216,892. 4.50% of the stock is currently owned by company insiders.

Institutional Trading of Grocery Outlet

A number of hedge funds have recently made changes to their positions in GO. Decker Retirement Planning Inc. acquired a new stake in shares of Grocery Outlet during the 4th quarter valued at about $31,000. Aster Capital Management DIFC Ltd bought a new stake in Grocery Outlet in the fourth quarter worth $41,000. Quadrant Capital Group LLC increased its position in Grocery Outlet by 276.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company's stock worth $43,000 after buying an additional 2,036 shares during the last quarter. KBC Group NV raised its holdings in Grocery Outlet by 62.7% during the fourth quarter. KBC Group NV now owns 4,506 shares of the company's stock valued at $70,000 after buying an additional 1,736 shares in the last quarter. Finally, True Wealth Design LLC bought a new stake in shares of Grocery Outlet during the 3rd quarter worth about $75,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

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.