Analysts Set Grocery Outlet Holding Corp. (NASDAQ:GO) PT at $15.25

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have been given a consensus recommendation of “Hold” by the thirteen analysts that are currently covering the stock, Marketbeat.com reports. Two 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 12-month price target among analysts that have issued ratings on the stock in the last year is $15.25.

A number of research firms have recently weighed in on GO. Bank of America cut their price target on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Telsey Advisory Group cut their target price on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley decreased their price target on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company cut their price objective on shares of Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group lowered their target price 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, February 27th.

Insider Buying and Selling

In other news, CFO Christopher M. Miller acquired 10,000 shares of Grocery Outlet stock in a transaction on Thursday, February 27th. The stock was bought at an average cost of $11.68 per share, with a total value of $116,800.00. Following the completion of the purchase, the chief financial officer now owns 10,000 shares of the company’s stock, valued at $116,800. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Lindsay E. Gray sold 2,741 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total transaction of $31,082.94. Following the completion of the transaction, the senior vice president now owns 41,448 shares of the company’s stock, valued at approximately $470,020.32. The trade was a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 200,000 shares of company stock worth $2,435,050 and sold 17,756 shares worth $216,892. 4.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Franklin Resources Inc. lifted its position in Grocery Outlet by 1.8% in the 3rd quarter. Franklin Resources Inc. now owns 29,987 shares of the company’s stock worth $526,000 after buying an additional 529 shares in the last quarter. Amundi increased its stake in shares of Grocery Outlet by 0.6% in the fourth quarter. Amundi now owns 116,139 shares of the company’s stock worth $1,895,000 after acquiring an additional 719 shares during the last quarter. Cedar Wealth Management LLC raised its holdings in shares of Grocery Outlet by 3.9% during the fourth quarter. Cedar Wealth Management LLC now owns 20,370 shares of the company’s stock worth $318,000 after acquiring an additional 765 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Grocery Outlet by 2.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 46,875 shares of the company’s stock valued at $732,000 after purchasing an additional 1,240 shares during the last quarter. Finally, Integrated Wealth Concepts LLC grew its stake in Grocery Outlet by 9.6% in the fourth quarter. Integrated Wealth Concepts LLC now owns 15,671 shares of the company’s stock valued at $245,000 after purchasing an additional 1,377 shares in the last quarter. 99.87% of the stock is owned by institutional investors and hedge funds.

Grocery Outlet Stock Up 5.7 %

GO stock opened at $12.90 on Monday. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The firm’s 50-day simple moving average is $14.67 and its 200 day simple moving average is $16.28. The stock has a market cap of $1.26 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 9.08 and a beta of 0.36. Grocery Outlet has a fifty-two week low of $10.26 and a fifty-two week high of $29.13.

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.