Grocery Outlet Holding Corp. (NASDAQ:GO) Director Erik D. Ragatz Buys 110,000 Shares

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Erik D. Ragatz acquired 110,000 shares of Grocery Outlet stock in a transaction on Friday, November 15th. The stock was acquired at an average cost of $18.25 per share, for a total transaction of $2,007,500.00. Following the completion of the purchase, the director now owns 539,785 shares of the company’s stock, valued at approximately $9,851,076.25. The trade was a 25.59 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Grocery Outlet Stock Performance

NASDAQ GO opened at $17.86 on Tuesday. The stock has a market cap of $1.73 billion, a PE ratio of 35.02, a P/E/G ratio of 4.45 and a beta of 0.13. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. The firm has a 50-day moving average of $16.64 and a 200-day moving average of $19.21. Grocery Outlet Holding Corp. has a 52-week low of $13.60 and a 52-week high of $29.80.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the business posted $0.25 earnings per share. On average, sell-side analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of Grocery Outlet by 76.6% in the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after buying an additional 722 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Grocery Outlet during the 1st quarter valued at $25,000. Swiss National Bank raised its stake in Grocery Outlet by 0.6% in the first quarter. Swiss National Bank now owns 186,100 shares of the company’s stock valued at $5,356,000 after purchasing an additional 1,200 shares in the last quarter. Innealta Capital LLC bought a new stake in Grocery Outlet during the second quarter worth about $38,000. Finally, Capital Performance Advisors LLP acquired a new stake in Grocery Outlet during the third quarter worth about $32,000. Institutional investors own 99.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GO shares. TD Cowen downgraded Grocery Outlet from a “buy” rating to a “hold” rating and dropped their price objective for the company from $25.00 to $16.00 in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Craig Hallum lowered their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Roth Capital raised shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, UBS Group dropped their price objective on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Grocery Outlet has a consensus rating of “Hold” and a consensus target price of $18.00.

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.