Grocery Outlet (NASDAQ:GO) PT Lowered to $22.00 at Roth Mkm

Grocery Outlet (NASDAQ:GO) had its price objective dropped by research analysts at Roth Mkm from $27.00 to $22.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Roth Mkm’s target price suggests a potential upside of 5.26% from the stock’s current price.

GO has been the topic of several other research reports. Craig Hallum raised shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Wednesday, February 28th. Telsey Advisory Group lowered their price objective on Grocery Outlet from $37.00 to $31.00 and set an “outperform” rating for the company in a research note on Wednesday. UBS Group cut their target price on Grocery Outlet from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group dropped their price target on shares of Grocery Outlet from $24.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $29.33.

Grocery Outlet Stock Performance

Shares of Grocery Outlet stock opened at $20.90 on Thursday. The firm’s 50 day moving average is $26.94 and its two-hundred day moving average is $27.07. The firm has a market capitalization of $2.09 billion, a P/E ratio of 26.43, a P/E/G ratio of 2.47 and a beta of 0.13. Grocery Outlet has a 52 week low of $19.73 and a 52 week high of $36.54. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 0.24.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. The firm had revenue of $989.82 million during the quarter, compared to analysts’ expectations of $982.44 million. Grocery Outlet had a net margin of 2.00% and a return on equity of 7.17%. Research analysts forecast that Grocery Outlet will post 0.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Thomas F. Herman sold 2,000 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 11,400 shares of the company’s stock, valued at $330,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Thomas F. Herman sold 2,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $29.00, for a total transaction of $58,000.00. Following the completion of the sale, the director now directly owns 11,400 shares of the company’s stock, valued at $330,600. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas F. Herman sold 1,000 shares of Grocery Outlet stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $29.00, for a total value of $29,000.00. Following the completion of the transaction, the director now directly owns 10,400 shares in the company, valued at approximately $301,600. The disclosure for this sale can be found here. Insiders have sold a total of 506,588 shares of company stock valued at $13,367,577 over the last three months. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new position in shares of Grocery Outlet during the 1st quarter valued at $25,000. Acadian Asset Management LLC purchased a new position in Grocery Outlet in the third quarter valued at about $113,000. Daiwa Securities Group Inc. acquired a new position in Grocery Outlet in the 1st quarter worth about $127,000. Headlands Technologies LLC raised its stake in shares of Grocery Outlet by 32,200.0% during the 4th quarter. Headlands Technologies LLC now owns 4,845 shares of the company’s stock worth $131,000 after purchasing an additional 4,830 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Grocery Outlet during the 4th quarter valued at about $193,000. 99.87% of the stock is owned by institutional investors and hedge funds.

About Grocery Outlet

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.