Grocery Outlet (NASDAQ:GO) Hits New 12-Month Low Following Analyst Downgrade

Grocery Outlet Holding Corp. (NASDAQ:GO) shares hit a new 52-week low during trading on Wednesday after Telsey Advisory Group lowered their price target on the stock from $37.00 to $31.00. Telsey Advisory Group currently has an outperform rating on the stock. Grocery Outlet traded as low as $22.04 and last traded at $22.04, with a volume of 6183 shares trading hands. The stock had previously closed at $25.90.

Other equities research analysts have also issued reports about the stock. Craig Hallum raised shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Wednesday, February 28th. UBS Group decreased their price objective on Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $30.78.

Insider Transactions at Grocery Outlet

In other news, Director Thomas F. Herman sold 1,000 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $29.00, for a total transaction of $29,000.00. Following the transaction, the director now owns 10,400 shares of the company’s stock, valued at approximately $301,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Thomas F. Herman sold 2,000 shares of Grocery Outlet stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $29.00, for a total transaction of $58,000.00. Following the completion of the transaction, the director now directly owns 11,400 shares in the company, valued at $330,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas F. Herman sold 1,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $29.00, for a total transaction of $29,000.00. Following the completion of the sale, the director now owns 10,400 shares in the company, valued at approximately $301,600. The disclosure for this sale can be found here. Insiders sold a total of 506,588 shares of company stock valued at $13,367,577 in the last quarter. 4.50% of the stock is currently owned by company insiders.

Institutional Trading of Grocery Outlet

Institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new stake in Grocery Outlet during the first quarter worth $25,000. Acadian Asset Management LLC bought a new stake in shares of Grocery Outlet in the 3rd quarter worth $113,000. Daiwa Securities Group Inc. purchased a new stake in shares of Grocery Outlet in the first quarter valued at about $127,000. Headlands Technologies LLC lifted its position in shares of Grocery Outlet by 32,200.0% during the fourth quarter. Headlands Technologies LLC now owns 4,845 shares of the company’s stock valued at $131,000 after purchasing an additional 4,830 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in Grocery Outlet during the fourth quarter worth about $193,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

Grocery Outlet Stock Performance

The company’s 50 day simple moving average is $26.95 and its 200 day simple moving average is $27.09. The stock has a market cap of $2.15 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 2.47 and a beta of 0.13. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.43 and a current ratio of 1.35.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. Grocery Outlet had a return on equity of 7.17% and a net margin of 2.00%. The business had revenue of $989.82 million for the quarter, compared to analyst estimates of $982.44 million. Analysts expect that Grocery Outlet Holding Corp. will post 0.95 earnings per share for the current year.

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.