Grocery Outlet Holding Corp. (NASDAQ:GO) Director Sells $1,844,000.00 in Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $18.44, for a total transaction of $1,844,000.00. Following the completion of the sale, the director now owns 70,938 shares in the company, valued at approximately $1,308,096.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Grocery Outlet Stock Performance

Shares of NASDAQ GO opened at $17.73 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23. Grocery Outlet Holding Corp. has a 12-month low of $17.46 and a 12-month high of $32.49. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 3.55 and a beta of 0.09. The firm has a 50 day moving average of $20.36 and a 200 day moving average of $23.45.

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

Institutional Trading of Grocery Outlet

A number of hedge funds and other institutional investors have recently modified their holdings of GO. Louisiana State Employees Retirement System bought a new position in shares of Grocery Outlet in the fourth quarter worth about $752,000. State of New Jersey Common Pension Fund D lifted its holdings in Grocery Outlet by 10.4% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 88,710 shares of the company’s stock worth $2,392,000 after purchasing an additional 8,353 shares in the last quarter. Headlands Technologies LLC boosted its stake in Grocery Outlet by 32,200.0% in 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 during the period. Retirement Systems of Alabama grew its holdings in Grocery Outlet by 0.8% during the 4th quarter. Retirement Systems of Alabama now owns 124,329 shares of the company’s stock valued at $3,352,000 after buying an additional 994 shares in the last quarter. Finally, Natixis Advisors L.P. bought a new stake in shares of Grocery Outlet during the fourth quarter valued at approximately $291,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on GO. Craig Hallum downgraded Grocery Outlet from a “buy” rating to a “hold” rating and dropped their target price for the stock from $32.00 to $20.00 in a report on Wednesday, July 31st. Wells Fargo & Company assumed coverage on shares of Grocery Outlet in a research note on Thursday, July 18th. They set an “overweight” rating and a $28.00 price objective for the company. Roth Mkm dropped their target price on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. UBS Group cut their price target on shares of Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, Telsey Advisory Group decreased their price objective on shares of Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.