Carey Jaros Buys 15,000 Shares of Grocery Outlet (NASDAQ:GO) Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Carey Jaros purchased 15,000 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was bought at an average cost of $11.70 per share, for a total transaction of $175,500.00. Following the acquisition, the director directly owned 60,000 shares in the company, valued at approximately $702,000. The trade was a 33.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Grocery Outlet Stock Performance

Grocery Outlet stock opened at $12.11 on Wednesday. Grocery Outlet Holding Corp. has a fifty-two week low of $5.66 and a fifty-two week high of $18.79. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.30 and a current ratio of 1.29. The stock has a market cap of $1.20 billion, a P/E ratio of -3.13, a price-to-earnings-growth ratio of 8.31 and a beta of 0.72. The firm’s fifty day moving average price is $10.26 and its 200-day moving average price is $8.82.

Grocery Outlet (NASDAQ:GO) last announced its earnings results on Wednesday, August 12th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.07. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. Grocery Outlet had a negative net margin of 8.04% and a positive return on equity of 5.84%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.23 earnings per share. On average, equities research analysts expect that Grocery Outlet Holding Corp. will post 0.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GO. DA Davidson upped their price objective on Grocery Outlet from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Roth Capital reissued a “neutral” rating and set a $10.00 price objective on shares of Grocery Outlet in a report on Thursday, August 13th. Wells Fargo & Company boosted their target price on Grocery Outlet from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Telsey Advisory Group reaffirmed a “market perform” rating on shares of Grocery Outlet in a research note on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $9.00 price target on shares of Grocery Outlet in a research report on Thursday, August 13th. Twelve research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Grocery Outlet presently has a consensus rating of “Reduce” and an average target price of $10.59.

Institutional Inflows and Outflows

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

About Grocery Outlet

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.