Grocery Outlet Holding Corp. (NASDAQ:GO) Given Average Rating of “Hold” by Brokerages

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have received a consensus recommendation of “Hold” from the thirteen brokerages that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $15.25.

GO has been the subject of a number of recent research reports. Morgan Stanley reduced their price target on shares of Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating for the company in a research report on Wednesday, February 26th. The Goldman Sachs Group lowered their price target on shares of Grocery Outlet from $14.00 to $11.00 and set a “sell” rating on the stock in a report on Thursday, February 27th. Telsey Advisory Group reduced their price objective on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating for the company in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft downgraded Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a research note on Wednesday, February 26th. Finally, Bank of America reduced their price target on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th.

Insider Activity

In related news, Director Erik D. Ragatz purchased 165,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $12.25 per share, with a total value of $2,021,250.00. Following the purchase, the director now owns 201,500 shares of the company’s stock, valued at $2,468,375. This represents a 452.05 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven K. Wilson sold 6,682 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $13.16, for a total value of $87,935.12. Following the sale, the executive vice president now owns 166,923 shares of the company’s stock, valued at approximately $2,196,706.68. This trade represents a 3.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 200,000 shares of company stock worth $2,435,050 and sold 17,756 shares worth $216,892. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

A number of large investors have recently modified their holdings of GO. Simcoe Capital Management LLC purchased a new stake in shares of Grocery Outlet in the fourth quarter valued at approximately $53,185,000. Junto Capital Management LP purchased a new stake in Grocery Outlet in the 4th quarter valued at $39,128,000. Freestone Grove Partners LP acquired a new stake in shares of Grocery Outlet in the 4th quarter worth $13,602,000. FPR Partners LLC raised its holdings in shares of Grocery Outlet by 15.2% during the 4th quarter. FPR Partners LLC now owns 5,991,474 shares of the company’s stock worth $93,527,000 after acquiring an additional 791,474 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in shares of Grocery Outlet by 159.8% during 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 acquiring an additional 759,697 shares during the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Grocery Outlet Stock Up 2.2 %

Shares of GO stock opened at $13.25 on Monday. Grocery Outlet has a fifty-two week low of $10.26 and a fifty-two week high of $28.98. The firm has a market capitalization of $1.29 billion, a PE ratio of 25.98, a P/E/G ratio of 9.08 and a beta of 0.36. 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’s 50-day simple moving average is $14.55 and its 200-day simple moving average is $16.23.

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.