Grocery Outlet (NASDAQ:GO) Price Target Cut to $27.00 by Analysts at UBS Group

Grocery Outlet (NASDAQ:GO) had its target price cut by UBS Group from $30.00 to $27.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts also recently weighed in on GO. Telsey Advisory Group dropped their price target on Grocery Outlet from $37.00 to $31.00 and set an outperform rating for the company in a research note on Wednesday. Craig Hallum upgraded shares of Grocery Outlet from a hold rating to a buy rating and set a $36.00 price target on the stock in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Grocery Outlet presently has an average rating of Hold and a consensus price target of $29.33.

Grocery Outlet Stock Performance

Shares of NASDAQ:GO traded up $0.10 during mid-day trading on Wednesday, reaching $20.98. 534,381 shares of the company traded hands, compared to its average volume of 1,332,051. Grocery Outlet has a 52 week low of $19.73 and a 52 week high of $36.54. The firm has a market cap of $2.10 billion, a PE ratio of 26.47, a PEG ratio of 2.47 and a beta of 0.13. The company’s 50 day moving average price is $26.83 and its 200-day moving average price is $27.03. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 0.43.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. Grocery Outlet had a net margin of 2.00% and a return on equity of 7.17%. The firm had revenue of $989.82 million for the quarter, compared to the consensus estimate of $982.44 million. On average, equities analysts expect that Grocery Outlet will post 0.95 EPS for the current fiscal year.

Insider Buying and Selling

In other Grocery Outlet news, insider Andrea Renee Bortner sold 4,112 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $26.33, for a total value of $108,268.96. Following the completion of the sale, the insider now directly owns 49,308 shares of the company’s stock, valued at approximately $1,298,279.64. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Thomas F. Herman sold 2,000 shares of Grocery Outlet stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $29.00, for a total value of $58,000.00. Following the transaction, the director now directly owns 11,400 shares in the company, valued at approximately $330,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrea Renee Bortner sold 4,112 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $26.33, for a total value of $108,268.96. Following the sale, the insider now owns 49,308 shares of the company’s stock, valued at $1,298,279.64. The disclosure for this sale can be found here. In the last three months, insiders sold 506,588 shares of company stock valued at $13,367,577. Insiders own 4.50% of the company’s stock.

Institutional Trading of Grocery Outlet

A number of institutional investors have recently modified their holdings of the company. Entropy Technologies LP acquired a new stake in Grocery Outlet in the 1st quarter worth approximately $435,000. Bleakley Financial Group LLC purchased a new stake in shares of Grocery Outlet during the first quarter valued at $217,000. Russell Investments Group Ltd. raised its stake in Grocery Outlet by 15.2% in the 1st quarter. Russell Investments Group Ltd. now owns 186,511 shares of the company’s stock worth $5,368,000 after acquiring an additional 24,543 shares during the last quarter. 12 West Capital Management LP lifted its position in Grocery Outlet by 383.3% during the 1st quarter. 12 West Capital Management LP now owns 3,625,000 shares of the company’s stock worth $104,328,000 after acquiring an additional 2,875,000 shares during the period. Finally, Swiss National Bank grew its stake in Grocery Outlet by 0.6% during the 1st quarter. Swiss National Bank now owns 186,100 shares of the company’s stock valued at $5,356,000 after purchasing an additional 1,200 shares during 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.