Insider Buying: Grocery Outlet Holding Corp. (NASDAQ:GO) CFO Purchases $116,800.00 in Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) CFO Christopher M. Miller purchased 10,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $11.68 per share, for a total transaction of $116,800.00. Following the purchase, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $116,800. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Grocery Outlet Trading Up 0.3 %

Shares of NASDAQ:GO opened at $11.87 on Friday. The company has a 50 day moving average price of $15.95 and a 200 day moving average price of $17.03. Grocery Outlet Holding Corp. has a 1-year low of $10.26 and a 1-year high of $29.13. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 9.08 and a beta of 0.32.

Wall Street Analysts Forecast Growth

GO has been the topic of several analyst reports. Telsey Advisory Group dropped their price target on shares of Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating on the stock in a research note on Wednesday. UBS Group lowered 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. Bank of America lowered their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday. Morgan Stanley lowered their price objective on shares of Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company lowered their price objective on shares of Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $15.25.

Hedge Funds Weigh In On Grocery Outlet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FPR Partners LLC boosted its stake in Grocery Outlet by 15.2% in the 4th quarter. FPR Partners LLC now owns 5,991,474 shares of the company’s stock worth $93,527,000 after purchasing an additional 791,474 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Grocery Outlet by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,833,955 shares of the company’s stock valued at $59,845,000 after buying an additional 35,938 shares during the period. State Street Corp boosted its stake in shares of Grocery Outlet by 0.6% during the 3rd quarter. State Street Corp now owns 3,407,152 shares of the company’s stock valued at $59,796,000 after buying an additional 21,237 shares during the period. Simcoe Capital Management LLC acquired a new stake in shares of Grocery Outlet during the 4th quarter valued at $53,185,000. Finally, Clearbridge Investments LLC boosted its stake in shares of Grocery Outlet by 9.4% during the 4th quarter. Clearbridge Investments LLC now owns 3,158,059 shares of the company’s stock valued at $49,297,000 after buying an additional 272,285 shares during the period. Institutional investors and hedge funds own 99.87% of the company’s stock.

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.