Grocery Outlet (NASDAQ:GO) Stock Price Down 4.9% - Time to Sell?

Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report)'s share price dropped 4.9% during trading on Monday . The stock traded as low as $15.85 and last traded at $15.91. Approximately 294,305 shares were traded during trading, a decline of 84% from the average daily volume of 1,829,454 shares. The stock had previously closed at $16.73.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GO shares. Wells Fargo & Company dropped their price target on Grocery Outlet from $26.00 to $23.00 and set an "overweight" rating on the stock in a report on Wednesday, November 6th. Roth Mkm cut their target price on shares of Grocery Outlet from $20.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft reduced their price target on Grocery Outlet from $29.00 to $26.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. TD Cowen lowered Grocery Outlet from a "buy" rating to a "hold" rating and cut their target price for the company from $25.00 to $16.00 in a report on Wednesday, November 6th. Finally, Loop Capital assumed coverage on shares of Grocery Outlet in a research note on Thursday, October 17th. They issued a "hold" rating and a $17.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $18.00.

Grocery Outlet Price Performance

The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 30.80, a P/E/G ratio of 4.74 and a beta of 0.25. The company's 50-day simple moving average is $17.87 and its 200-day simple moving average is $18.69. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33.

Grocery Outlet (NASDAQ:GO - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The firm had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.10 billion. During the same quarter last year, the business earned $0.25 EPS. The company's quarterly revenue was up 10.4% compared to the same quarter last year. Research analysts forecast that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Erik D. Ragatz bought 110,000 shares of the company's stock in a transaction on Friday, November 15th. The stock was purchased at an average cost of $18.25 per share, for a total transaction of $2,007,500.00. Following the completion of the transaction, the director now owns 539,785 shares of the company's stock, valued at $9,851,076.25. This trade represents a 25.59 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GO. Blue Trust Inc. raised its holdings in Grocery Outlet by 76.6% during the third quarter. Blue Trust Inc. now owns 1,665 shares of the company's stock worth $29,000 after buying an additional 722 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in Grocery Outlet in the 3rd quarter valued at approximately $32,000. Innealta Capital LLC bought a new stake in shares of Grocery Outlet during the 2nd quarter valued at $38,000. True Wealth Design LLC purchased a new stake in shares of Grocery Outlet in the third quarter worth about $75,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Grocery Outlet in the 2nd quarter worth approximately $82,000. Institutional investors and hedge funds 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.