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

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have been assigned an average recommendation of “Hold” from the fourteen analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $15.46.

Several analysts recently weighed in on GO shares. Telsey Advisory Group reduced their price objective on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley reduced their price target 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, February 26th. Bank of America lowered their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company dropped their price objective on shares of Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft cut shares of 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.

Grocery Outlet Trading Up 2.4 %

Shares of GO stock opened at $16.12 on Friday. Grocery Outlet has a fifty-two week low of $10.26 and a fifty-two week high of $27.64. The stock’s fifty day moving average price is $13.68 and its two-hundred day moving average price is $15.92. 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 company has a market cap of $1.58 billion, a PE ratio of 31.61, a P/E/G ratio of 9.08 and a beta of 0.40.

Insider Transactions at Grocery Outlet

In related news, EVP Steven K. Wilson sold 6,477 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total transaction of $73,449.18. Following the sale, the executive vice president now owns 173,605 shares in the company, valued at $1,968,680.70. This represents a 3.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher M. Miller bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $11.68 per share, with a total value 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 200,000 shares of company stock worth $2,435,050 and sold 17,756 shares worth $216,892. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Grocery Outlet

Institutional investors and hedge funds have recently modified their holdings of the business. Simcoe Capital Management LLC acquired a new position in shares of Grocery Outlet during the 4th quarter valued at $53,185,000. Junto Capital Management LP bought a new stake in Grocery Outlet in the fourth quarter valued at $39,128,000. Freestone Grove Partners LP bought a new stake in Grocery Outlet in the fourth quarter valued at $13,602,000. FPR Partners LLC raised its holdings in shares of Grocery Outlet by 15.2% during the fourth quarter. FPR Partners LLC now owns 5,991,474 shares of the company’s stock valued at $93,527,000 after purchasing an additional 791,474 shares during the period. Finally, Senvest Management LLC boosted its position in shares of Grocery Outlet by 88.3% during the 4th quarter. Senvest Management LLC now owns 1,569,656 shares of the company’s stock worth $24,502,000 after purchasing an additional 735,931 shares in the last quarter. 99.87% of the stock is currently owned by institutional investors.

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.