Eric J. Jr. Lindberg Sells 300,000 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) Stock

Grocery Outlet Holding Corp. (NASDAQ:GOGet Free Report) Director Eric J. Jr. Lindberg sold 300,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $26.16, for a total transaction of $7,848,000.00. Following the completion of the transaction, the director now owns 107,123 shares of the company’s stock, valued at $2,802,337.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Grocery Outlet Stock Up 2.3 %

Shares of NASDAQ GO opened at $26.77 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 0.24. Grocery Outlet Holding Corp. has a 52 week low of $23.41 and a 52 week high of $36.54. The firm’s fifty day moving average is $26.06 and its 200 day moving average is $27.83. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 33.89, a PEG ratio of 2.69 and a beta of 0.08.

Wall Street Analysts Forecast Growth

GO has been the subject of several research analyst reports. Morgan Stanley dropped their target price on shares of Grocery Outlet from $27.00 to $20.00 and set an “underweight” rating for the company in a research report on Thursday, November 9th. UBS Group lowered 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. Roth Mkm lowered their price objective on shares of Grocery Outlet from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, November 8th. The Goldman Sachs Group lowered shares of Grocery Outlet from a “buy” rating to a “sell” rating and lowered their price objective for the stock from $33.00 to $24.00 in a report on Tuesday, December 12th. Finally, 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 report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $31.44.

Get Our Latest Stock Analysis on GO

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors increased its position in Grocery Outlet by 58.1% during the 2nd quarter. Captrust Financial Advisors now owns 762 shares of the company’s stock valued at $32,000 after purchasing an additional 280 shares during the period. KBC Group NV purchased a new position in Grocery Outlet during the 4th quarter valued at $32,000. CWM LLC increased its position in Grocery Outlet by 248.0% during the 3rd quarter. CWM LLC now owns 1,399 shares of the company’s stock valued at $40,000 after purchasing an additional 997 shares during the period. Quadrant Capital Group LLC increased its position in Grocery Outlet by 102.0% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,709 shares of the company’s stock valued at $52,000 after purchasing an additional 863 shares during the period. Finally, Dark Forest Capital Management LP purchased a new stake in shares of Grocery Outlet in the 1st quarter worth about $55,000.

Grocery Outlet Company Profile

(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.

Further Reading

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

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