Grocery Outlet Holding Corp. (NASDAQ:GO) Receives $15.58 Consensus Target Price from Analysts

Grocery Outlet Holding Corp. (NASDAQ:GO) has earned a consensus rating of “Hold” from the thirteen research firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $15.25.

Several equities analysts have recently weighed in on GO shares. Telsey Advisory Group cut their price objective on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating on the stock in a report on Wednesday. The Goldman Sachs Group cut their price target on shares of Grocery Outlet from $14.00 to $11.00 and set a “sell” rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a research report on Wednesday. Roth Mkm cut their price objective on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Finally, TD Cowen cut Grocery Outlet from a “buy” rating to a “hold” rating and lowered their target price for the stock from $25.00 to $16.00 in a report on Wednesday, November 6th.

Insider Buying and Selling at Grocery Outlet

In other news, CFO Christopher M. Miller bought 10,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were bought at an average price of $11.68 per share, for a total transaction of $116,800.00. Following the completion of the purchase, the chief financial officer now owns 10,000 shares in the company, valued at approximately $116,800. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in shares of Grocery Outlet by 1.8% in the third quarter. Franklin Resources Inc. now owns 29,987 shares of the company’s stock valued at $526,000 after acquiring an additional 529 shares during the period. Amundi raised its stake in Grocery Outlet by 0.6% in the 4th quarter. Amundi now owns 116,139 shares of the company’s stock worth $1,895,000 after purchasing an additional 719 shares in the last quarter. Blue Trust Inc. boosted its holdings in Grocery Outlet by 76.6% in the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares during the period. Cedar Wealth Management LLC boosted its holdings in Grocery Outlet by 3.9% in the 4th quarter. Cedar Wealth Management LLC now owns 20,370 shares of the company’s stock valued at $318,000 after purchasing an additional 765 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Grocery Outlet by 2.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 46,875 shares of the company’s stock worth $732,000 after purchasing an additional 1,240 shares in the last quarter. 99.87% of the stock is owned by institutional investors and hedge funds.

Grocery Outlet Trading Up 0.3 %

NASDAQ:GO opened at $11.87 on Thursday. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 9.08 and a beta of 0.32. Grocery Outlet has a 1-year low of $10.26 and a 1-year high of $29.13. The business’s 50-day moving average price is $15.95 and its two-hundred day moving average price is $17.03. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34.

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.