Grocery Outlet (NASDAQ:GO) Now Covered by Loop Capital

Loop Capital began coverage on shares of Grocery Outlet (NASDAQ:GO - Free Report) in a research report report published on Thursday morning, MarketBeat.com reports. The firm issued a hold rating and a $17.00 price objective on the stock.

GO has been the topic of several other reports. Craig Hallum downgraded Grocery Outlet from a "buy" rating to a "hold" rating and lowered their price objective for the company from $32.00 to $20.00 in a research report on Wednesday, July 31st. Roth Capital upgraded Grocery Outlet from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 7th. Telsey Advisory Group lowered their price objective on Grocery Outlet from $31.00 to $27.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 7th. Roth Mkm decreased their target price on Grocery Outlet from $22.00 to $20.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company began coverage on Grocery Outlet in a research report on Thursday, July 18th. They issued an "overweight" rating and a $28.00 target price on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $21.60.

Grocery Outlet Stock Performance

Shares of GO stock traded up $0.65 on Thursday, reaching $17.52. The stock had a trading volume of 2,431,953 shares, compared to its average volume of 1,766,912. The stock has a market cap of $1.75 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 3.10 and a beta of 0.10. Grocery Outlet has a 1 year low of $15.18 and a 1 year high of $29.98. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.29 and a current ratio of 1.29. The company has a 50 day simple moving average of $17.42 and a 200 day simple moving average of $20.88.

Grocery Outlet (NASDAQ:GO - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.05. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The company had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.10 billion. During the same period last year, the firm earned $0.23 EPS. Grocery Outlet's revenue for the quarter was up 11.7% compared to the same quarter last year. Equities research analysts expect that Grocery Outlet will post 0.68 EPS for the current year.

Insiders Place Their Bets

In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the completion of the sale, the director now owns 70,938 shares in the company, valued at approximately $1,155,580.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of the company's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the transaction, the director now directly owns 70,938 shares of the company's stock, valued at $1,340,728.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the company's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the transaction, the director now directly owns 70,938 shares in the company, valued at approximately $1,155,580.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 500,095 shares of company stock worth $8,876,548 over the last 90 days. Company insiders own 4.50% of the company's stock.

Institutional Investors Weigh In On Grocery Outlet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Grocery Outlet by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 9,333,850 shares of the company's stock worth $268,628,000 after purchasing an additional 60,830 shares during the period. 12 West Capital Management LP grew its position in shares of Grocery Outlet by 383.3% during the 1st quarter. 12 West Capital Management LP now owns 3,625,000 shares of the company's stock valued at $104,328,000 after acquiring an additional 2,875,000 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Grocery Outlet by 22.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,613,617 shares of the company's stock valued at $79,933,000 after acquiring an additional 655,065 shares during the period. Capital World Investors grew its position in shares of Grocery Outlet by 281.4% during the 1st quarter. Capital World Investors now owns 3,579,683 shares of the company's stock valued at $103,023,000 after acquiring an additional 2,641,016 shares during the period. Finally, Van Berkom & Associates Inc. grew its position in shares of Grocery Outlet by 21.1% during the 2nd quarter. Van Berkom & Associates Inc. now owns 3,498,533 shares of the company's stock valued at $77,388,000 after acquiring an additional 609,871 shares during the period. 99.87% of the stock is owned by institutional investors and hedge funds.

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.