Eric J. Jr. Lindberg Sells 100,000 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $18.44, for a total value of $1,844,000.00. Following the transaction, the director now owns 70,938 shares of the company’s stock, valued at $1,308,096.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Grocery Outlet Trading Up 0.1 %

NASDAQ:GO opened at $17.73 on Friday. Grocery Outlet Holding Corp. has a 12-month low of $17.46 and a 12-month high of $32.49. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.25 and a quick ratio of 0.30. The business has a 50 day simple moving average of $20.36 and a 200 day simple moving average of $23.46. The firm has a market capitalization of $1.77 billion, a P/E ratio of 27.70, a P/E/G ratio of 3.55 and a beta of 0.09.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. Grocery Outlet had a net margin of 1.60% and a return on equity of 5.46%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the firm earned $0.23 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. Equities research analysts predict that Grocery Outlet Holding Corp. will post 0.69 EPS for the current year.

Hedge Funds Weigh In On Grocery Outlet

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. lifted its holdings in Grocery Outlet by 73.8% in the second quarter. Point72 Asset Management L.P. now owns 475,381 shares of the company’s stock worth $10,515,000 after purchasing an additional 201,881 shares during the period. Lighthouse Investment Partners LLC lifted its stake in shares of Grocery Outlet by 54.0% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 300,000 shares of the company’s stock worth $6,636,000 after acquiring an additional 105,160 shares during the period. Millennium Management LLC boosted its holdings in shares of Grocery Outlet by 677.6% in the second quarter. Millennium Management LLC now owns 1,981,558 shares of the company’s stock valued at $43,832,000 after acquiring an additional 1,726,741 shares in the last quarter. Solel Partners LP acquired a new position in shares of Grocery Outlet during the second quarter valued at approximately $35,980,000. Finally, Providence Capital Advisors LLC increased its stake in shares of Grocery Outlet by 80.9% during the second quarter. Providence Capital Advisors LLC now owns 285,803 shares of the company’s stock valued at $6,322,000 after acquiring an additional 127,812 shares during the period. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on GO shares. Craig Hallum downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and reduced their price objective for the company from $32.00 to $20.00 in a research note on Wednesday, July 31st. Telsey Advisory Group decreased their price target on Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Roth Mkm cut their price objective on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Roth Capital upgraded Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, UBS Group dropped their price target on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $22.75.

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.