Grocery Outlet (NASDAQ:GO) Shares Down 4.9% – Should You Sell?

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) traded down 4.9% on Monday . The stock traded as low as $15.85 and last traded at $15.91. 294,305 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 1,829,454 shares. The stock had previously closed at $16.73.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GO shares. UBS Group cut their target price on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. TD Cowen lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and dropped their price objective for the company from $25.00 to $16.00 in a research note on Wednesday, November 6th. Craig Hallum decreased their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Telsey Advisory Group reissued a “market perform” rating and issued a $18.00 target price on shares of Grocery Outlet in a report on Thursday, December 19th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.00.

Grocery Outlet Stock Performance

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 company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 30.90, a PEG ratio of 4.74 and a beta of 0.25. The stock has a fifty day moving average price of $17.86 and a two-hundred day moving average price of $18.61.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 earnings per share. As a group, analysts forecast that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Insider Buying and Selling at Grocery Outlet

In other news, Director Erik D. Ragatz acquired 110,000 shares of Grocery Outlet stock in a transaction dated Friday, November 15th. The shares were acquired at an average cost of $18.25 per share, with a total value of $2,007,500.00. Following the purchase, the director now directly owns 539,785 shares of the company’s stock, valued at approximately $9,851,076.25. This trade represents a 25.59 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Grocery Outlet

Several large investors have recently made changes to their positions in the business. Raymond James & Associates increased its holdings in Grocery Outlet by 48.0% in the 2nd quarter. Raymond James & Associates now owns 82,730 shares of the company’s stock valued at $1,830,000 after purchasing an additional 26,828 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in Grocery Outlet by 75.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 50,200 shares of the company’s stock worth $1,110,000 after acquiring an additional 21,600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Grocery Outlet by 21.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,995 shares of the company’s stock valued at $376,000 after purchasing an additional 3,050 shares during the period. Innealta Capital LLC bought a new stake in shares of Grocery Outlet in the second quarter worth $38,000. Finally, Principal Financial Group Inc. grew its holdings in Grocery Outlet by 31.2% during the 2nd quarter. Principal Financial Group Inc. now owns 490,110 shares of the company’s stock worth $10,841,000 after acquiring an additional 116,686 shares in the last quarter. 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.