Grocery Outlet Holding Corp. (NASDAQ:GO) Director Sells $3,259,547.55 in Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Eric J. Jr. Lindberg sold 200,095 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the sale, the director now owns 70,938 shares in the company, valued at $1,155,580.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Grocery Outlet Stock Up 1.9 %

GO traded up $0.31 during trading on Monday, hitting $16.28. 1,793,017 shares of the company’s stock were exchanged, compared to its average volume of 1,750,622. The stock has a market cap of $1.63 billion, a P/E ratio of 25.34, a PEG ratio of 3.16 and a beta of 0.10. The business’s 50 day moving average is $18.69 and its two-hundred day moving average is $22.25. Grocery Outlet Holding Corp. has a fifty-two week low of $15.72 and a fifty-two week high of $29.98. The company has a quick ratio of 0.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.05. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 EPS. As a group, equities analysts expect that Grocery Outlet Holding Corp. will post 0.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grocery Outlet

A number of institutional investors and hedge funds have recently bought and sold shares of GO. Capital Research Global Investors increased its position in shares of Grocery Outlet by 2.2% during the 4th quarter. Capital Research Global Investors now owns 9,342,414 shares of the company’s stock valued at $251,871,000 after purchasing an additional 199,926 shares during the last quarter. Vanguard Group Inc. increased its holdings in Grocery Outlet by 0.7% during the first quarter. Vanguard Group Inc. now owns 9,333,850 shares of the company’s stock worth $268,628,000 after buying an additional 60,830 shares during the last quarter. 12 West Capital Management LP boosted its stake in Grocery Outlet by 383.3% in the first quarter. 12 West Capital Management LP now owns 3,625,000 shares of the company’s stock valued at $104,328,000 after acquiring an additional 2,875,000 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Grocery Outlet by 22.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,613,617 shares of the company’s stock valued at $79,933,000 after acquiring an additional 655,065 shares during the period. Finally, Capital World Investors increased its stake in shares of Grocery Outlet by 281.4% during the 1st quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock worth $103,023,000 after purchasing an additional 2,641,016 shares during the last quarter. 99.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GO shares. Melius Research assumed coverage on shares of Grocery Outlet in a research report on Monday. They set a “hold” rating and a $17.00 price objective for the company. UBS Group dropped their price objective on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Craig Hallum lowered Grocery Outlet from a “buy” rating to a “hold” rating and dropped their price target for the company from $32.00 to $20.00 in a research note on Wednesday, July 31st. Roth Mkm reduced their price objective on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, Roth Capital upgraded shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Grocery Outlet presently has an average rating of “Hold” and an average target price of $22.11.

Grocery Outlet Company Profile

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.