Paul Blaine Miller Buys 8,000 Shares of Grocery Outlet (NASDAQ:GO) Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) insider Paul Blaine Miller purchased 8,000 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were acquired at an average cost of $10.90 per share, for a total transaction of $87,200.00. Following the completion of the transaction, the insider directly owned 72,171 shares in the company, valued at approximately $786,663.90. This represents a 12.47% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Paul Blaine Miller also recently made the following trade(s):

• On Thursday, June 25th, Paul Blaine Miller acquired 5,000 shares of Grocery Outlet stock. The stock was bought at an average cost of $9.50 per share, with a total value of $47,500.00.
• On Thursday, June 18th, Paul Blaine Miller bought 10,000 shares of Grocery Outlet stock. The stock was purchased at an average price of $9.37 per share, with a total value of $93,700.00.

Grocery Outlet Stock Performance

Shares of NASDAQ GO traded up $0.49 during midday trading on Friday, hitting $11.60. 2,216,858 shares of the company’s stock were exchanged, compared to its average volume of 2,853,728. The firm has a market capitalization of $1.15 billion, a PE ratio of -3.00, a price-to-earnings-growth ratio of 8.56 and a beta of 0.65. The company’s 50 day moving average price is $9.86 and its 200 day moving average price is $8.69. Grocery Outlet Holding Corp. has a 12 month low of $5.66 and a 12 month high of $19.23. The company has a quick ratio of 0.30, a current ratio of 1.29 and a debt-to-equity ratio of 0.60.

Grocery Outlet (NASDAQ:GO) last announced its earnings results on Wednesday, August 12th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.13 by $0.07. Grocery Outlet had a negative net margin of 8.04% and a positive return on equity of 5.84%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the firm posted $0.23 EPS. Grocery Outlet’s revenue was up 1.1% compared to the same quarter last year. As a group, analysts predict that Grocery Outlet Holding Corp. will post 0.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

GO has been the topic of a number of analyst reports. Weiss Ratings raised Grocery Outlet from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, August 13th. UBS Group raised their price objective on Grocery Outlet from $10.00 to $11.50 and gave the company a “neutral” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $9.00 target price on shares of Grocery Outlet in a research report on Thursday, August 13th. 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. Finally, Roth Capital restated a “neutral” rating and issued a $10.00 price target on shares of Grocery Outlet in a research note on Thursday, August 13th. Twelve analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $10.59.

Institutional Investors Weigh In On Grocery Outlet

A number of institutional investors have recently modified their holdings of GO. Royal Bank of Canada boosted its position in Grocery Outlet by 5.8% during the first quarter. Royal Bank of Canada now owns 122,565 shares of the company’s stock valued at $1,713,000 after acquiring an additional 6,736 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Grocery Outlet by 14.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 357,856 shares of the company’s stock worth $5,003,000 after purchasing an additional 44,214 shares during the period. Creative Planning raised its holdings in Grocery Outlet by 25.4% during the second quarter. Creative Planning now owns 16,104 shares of the company’s stock worth $200,000 after buying an additional 3,263 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Grocery Outlet by 13.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 220,432 shares of the company’s stock valued at $2,738,000 after purchasing an additional 26,725 shares during the last quarter. Finally, Franklin Resources Inc. bought a new position in shares of Grocery Outlet in the second quarter valued at approximately $149,000. 99.87% of the stock is owned by institutional investors.

Grocery Outlet Company Profile

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.