Grocery Outlet Holding Corp. (NASDAQ:GO) Director Sells $1,712,000.00 in Stock

Grocery Outlet Holding Corp. (NASDAQ:GOGet Free Report) Director Eric J. Jr. Lindberg sold 64,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $26.75, for a total transaction of $1,712,000.00. Following the completion of the transaction, the director now owns 64,135 shares of the company’s stock, valued at approximately $1,715,611.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Grocery Outlet Price Performance

GO opened at $26.70 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 0.43. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 33.80, a P/E/G ratio of 2.57 and a beta of 0.08. The firm’s fifty day moving average price is $25.95 and its two-hundred day moving average price is $27.61. Grocery Outlet Holding Corp. has a 1 year low of $23.41 and a 1 year high of $36.54.

Hedge Funds Weigh In On Grocery Outlet

A number of hedge funds have recently bought and sold shares of GO. Clearfield Capital Management LP bought a new stake in shares of Grocery Outlet during the 2nd quarter worth $31,919,000. Van Berkom & Associates Inc. raised its stake in shares of Grocery Outlet by 62.4% during the 3rd quarter. Van Berkom & Associates Inc. now owns 2,394,826 shares of the company’s stock worth $69,091,000 after purchasing an additional 920,032 shares during the period. Norges Bank bought a new stake in shares of Grocery Outlet during the 4th quarter worth $24,588,000. Balyasny Asset Management L.P. bought a new stake in shares of Grocery Outlet during the 4th quarter worth $22,781,000. Finally, BlackRock Inc. raised its stake in shares of Grocery Outlet by 7.7% during the 1st quarter. BlackRock Inc. now owns 8,852,693 shares of the company’s stock worth $290,192,000 after purchasing an additional 631,964 shares during the period.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GO shares. UBS Group dropped their price objective on shares of Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. The Goldman Sachs Group lowered shares of Grocery Outlet from a “buy” rating to a “sell” rating and lowered their price objective for the company from $33.00 to $24.00 in a research note on Tuesday, December 12th. Telsey Advisory Group lowered their price objective on shares of Grocery Outlet from $40.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Finally, Craig Hallum upgraded shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Grocery Outlet presently has a consensus rating of “Hold” and an average price target of $31.44.

Check Out Our Latest Stock Analysis on Grocery Outlet

About Grocery Outlet

(Get Free Report)

Grocery Outlet Holding Corp. engages in ownership and operation of a network of independently operated stores in the United States. The company's stores offer products in various categories, such as dairy and deli, produce, floral, and fresh meat and seafood products, as well as grocery, general merchandise, health and beauty care, frozen foods, and beer and wine.

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Insider Buying and Selling by Quarter for Grocery Outlet (NASDAQ:GO)

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