Grocery Outlet (NASDAQ:GO) Insider Sells $16,181.60 in Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) insider Frank Michael Kerr sold 1,432 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $11.30, for a total transaction of $16,181.60. Following the transaction, the insider directly owned 54,342 shares in the company, valued at approximately $614,064.60. This trade represents a 2.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Grocery Outlet Stock Performance

Grocery Outlet stock opened at $12.21 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.30 and a current ratio of 1.29. The company has a market capitalization of $1.21 billion, a PE ratio of -3.16, a P/E/G ratio of 8.54 and a beta of 0.65. The company has a 50 day moving average price of $10.05 and a 200-day moving average price of $8.76. Grocery Outlet Holding Corp. has a fifty-two week low of $5.66 and a fifty-two week high of $18.85.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.07. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Grocery Outlet had a positive return on equity of 5.84% and a negative net margin of 8.04%.Grocery Outlet’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.23 earnings per share. As a group, equities analysts forecast that Grocery Outlet Holding Corp. will post 0.42 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GO. Aster Capital Management DIFC Ltd lifted its stake in shares of Grocery Outlet by 1,030.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,532 shares of the company’s stock worth $26,000 after purchasing an additional 2,308 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Grocery Outlet in the fourth quarter valued at about $35,000. Allworth Financial LP bought a new position in Grocery Outlet in the second quarter worth about $40,000. Quantbot Technologies LP bought a new position in Grocery Outlet in the second quarter worth about $46,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Grocery Outlet during the second quarter valued at about $58,000. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GO. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $9.00 price target on shares of Grocery Outlet in a research report on Thursday, August 13th. UBS Group upped their price objective on shares of Grocery Outlet from $10.00 to $11.50 and gave the stock a “neutral” rating in a research note on Monday, August 17th. Wells Fargo & Company increased their target price on shares of Grocery Outlet from $9.00 to $11.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. TD Cowen reissued a “hold” rating on shares of Grocery Outlet in a research report on Tuesday, August 18th. Finally, Telsey Advisory Group reissued a “market perform” rating on shares of Grocery Outlet in a research report on Thursday, August 13th. Twelve equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Grocery Outlet has a consensus rating of “Reduce” and a consensus target price of $10.59.

About Grocery Outlet

Grocery Outlet Holding Corp. (NASDAQ: GO) is a specialty discount retailer that offers consumers deeply discounted groceries by purchasing excess inventory, closeouts, and overstocks from manufacturers and distributors. Headquartered in Emeryville, California, the company operates two primary banners—Grocery Outlet and Fresh2Go—with a combined footprint of more than 400 stores. Its product assortment spans fresh produce, meat, dairy, bakery items, household staples, natural and organic offerings, and select specialty products, all sold at significant markdowns compared to conventional supermarkets.

The company’s unique buying model enables it to source inventory through opportunistic purchases of surplus freight, discontinued items, and closeout deals, which it then passes on as savings to its customers.