Grocery Outlet (NASDAQ:GO) Research Coverage Started at Melius Research

Analysts at Melius Research initiated coverage on shares of Grocery Outlet (NASDAQ:GO) in a research note issued on Monday, Benzinga reports. The brokerage set a “hold” rating and a $17.00 price target on the stock. Melius Research’s target price points to a potential upside of 4.81% from the company’s previous close.

GO has been the subject of several other reports. Wells Fargo & Company began coverage on shares of Grocery Outlet in a research note on Thursday, July 18th. They issued an “overweight” rating and a $28.00 price target for the company. 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 report on Wednesday, August 7th. Craig Hallum downgraded Grocery Outlet from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $32.00 to $20.00 in a research note on Wednesday, July 31st. 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 reduced their price objective on Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $22.11.

Grocery Outlet Trading Up 1.6 %

Shares of GO stock traded up $0.25 on Monday, hitting $16.22. The company had a trading volume of 729,458 shares, compared to its average volume of 1,744,810. The stock’s 50-day moving average is $18.69 and its two-hundred day moving average is $22.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.29 and a current ratio of 1.29. The firm has a market cap of $1.62 billion, a P/E ratio of 25.38, a P/E/G ratio of 3.16 and a beta of 0.10. Grocery Outlet has a twelve month low of $15.72 and a twelve month high of $29.98.

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, topping the consensus estimate of $0.20 by $0.05. The company had revenue of $1.13 billion during 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%. Grocery Outlet’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 earnings per share. On average, equities research analysts anticipate that Grocery Outlet will post 0.68 earnings per share for the current fiscal year.

Insider Activity at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $18.90, for a total value of $1,890,000.00. Following the completion of the transaction, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,340,728.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 300,000 shares of company stock worth $5,617,000. 4.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Grocery Outlet

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Boulder Hill Capital Management LP bought a new stake in Grocery Outlet in the 4th quarter worth approximately $2,038,000. Capstone Investment Advisors LLC boosted its stake in shares of Grocery Outlet by 161.1% in the 1st quarter. Capstone Investment Advisors LLC now owns 93,188 shares of the company’s stock valued at $2,682,000 after purchasing an additional 57,496 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Grocery Outlet by 2.2% in 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 in the last quarter. Capital World Investors raised its position in Grocery Outlet by 281.4% in 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 period. Finally, Tower Research Capital LLC TRC raised its position in Grocery Outlet by 261.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 57,471 shares of the company’s stock worth $1,549,000 after purchasing an additional 41,592 shares during the period. Hedge funds and other institutional investors own 99.87% of the company’s stock.

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.