The Goldman Sachs Group Lowers Grocery Outlet (NASDAQ:GO) Price Target to $11.00

Grocery Outlet (NASDAQ:GO - Free Report) had its price objective trimmed by The Goldman Sachs Group from $14.00 to $11.00 in a report issued on Thursday,Benzinga reports. The firm currently has a sell rating on the stock.

Other research analysts have also issued reports about the company. Craig Hallum cut their price objective on Grocery Outlet from $20.00 to $17.00 and set a "hold" rating on the stock in a report on Wednesday, November 6th. Bank of America cut their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday. Morgan Stanley decreased their price objective on shares of Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating for the company in a research note on Wednesday. UBS Group cut their price objective on shares of Grocery Outlet from $21.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft downgraded 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 report on Wednesday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $15.25.

Grocery Outlet Stock Performance

Shares of GO traded up $0.04 during trading hours on Thursday, reaching $11.87. 4,216,978 shares of the company traded hands, compared to its average volume of 2,470,076. 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 business has a fifty day moving average price of $15.95 and a 200-day moving average price of $17.05. Grocery Outlet has a 12-month low of $10.26 and a 12-month high of $29.13. The stock has a market capitalization of $1.15 billion, a P/E ratio of 23.27, a P/E/G ratio of 9.08 and a beta of 0.32.

Insider Activity at Grocery Outlet

In other news, CFO Christopher M. Miller bought 10,000 shares of Grocery Outlet stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $11.68 per share, with a total value of $116,800.00. Following the completion of the acquisition, the chief financial officer now directly owns 10,000 shares of the company's stock, valued at $116,800. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GO. Simcoe Capital Management LLC purchased a new position in Grocery Outlet in the 4th quarter worth approximately $53,185,000. Junto Capital Management LP acquired a new stake in shares of Grocery Outlet in the fourth quarter valued at approximately $39,128,000. Freestone Grove Partners LP purchased a new position in Grocery Outlet during the fourth quarter worth approximately $13,602,000. FPR Partners LLC boosted its stake in Grocery Outlet by 15.2% during the fourth quarter. FPR Partners LLC now owns 5,991,474 shares of the company's stock worth $93,527,000 after buying an additional 791,474 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in Grocery Outlet by 159.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,235,078 shares of the company's stock valued at $21,676,000 after buying an additional 759,697 shares in the last quarter. 99.87% of the stock is owned by institutional investors and hedge funds.

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.