Grocery Outlet (NASDAQ:GO) Price Target Lowered to $16.00 at TD Cowen

Grocery Outlet (NASDAQ:GO) had its price objective decreased by TD Cowen from $18.00 to $16.00 in a research note issued to investors on Wednesday morning,Benzinga reports. TD Cowen currently has a hold rating on the stock.

A number of other equities analysts also recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Grocery Outlet in a research report on Wednesday, October 8th. Bank of America reduced their price objective on Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday. Telsey Advisory Group downgraded Grocery Outlet from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Wednesday, August 6th. Finally, Morgan Stanley upgraded Grocery Outlet from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $13.00 to $16.00 in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $15.73.

Grocery Outlet Stock Performance

Shares of Grocery Outlet stock opened at $13.03 on Wednesday. Grocery Outlet has a one year low of $10.26 and a one year high of $21.67. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -260.60, a PEG ratio of 2.99 and a beta of 0.33. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.25 and a current ratio of 1.21. The business’s 50 day moving average price is $16.06 and its 200 day moving average price is $15.18.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. Grocery Outlet had a positive return on equity of 5.88% and a negative net margin of 0.10%.The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the business posted $0.28 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. Grocery Outlet has set its FY 2025 guidance at 0.780-0.80 EPS. On average, research analysts predict that Grocery Outlet will post 0.63 EPS for the current year.

Insider Buying and Selling at Grocery Outlet

In other news, EVP Steven K. Wilson sold 5,000 shares of Grocery Outlet stock in a transaction on Friday, August 15th. The stock was sold at an average price of $18.24, for a total value of $91,200.00. Following the completion of the sale, the executive vice president directly owned 141,923 shares of the company’s stock, valued at approximately $2,588,675.52. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Grocery Outlet by 5.8% in the first quarter. Vanguard Group Inc. now owns 10,717,454 shares of the company’s stock valued at $149,830,000 after buying an additional 582,822 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Grocery Outlet by 0.9% in the second quarter. Marshall Wace LLP now owns 4,556,552 shares of the company’s stock valued at $56,592,000 after buying an additional 40,977 shares in the last quarter. Van Berkom & Associates Inc. grew its stake in Grocery Outlet by 16.9% during the 3rd quarter. Van Berkom & Associates Inc. now owns 3,757,022 shares of the company’s stock worth $60,300,000 after purchasing an additional 543,535 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Grocery Outlet by 1,577.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,262,956 shares of the company’s stock worth $45,617,000 after purchasing an additional 3,068,405 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in Grocery Outlet during the 1st quarter worth $43,509,000. 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.