Grocery Outlet (NYSE:GO) had its price objective raised by Deutsche Bank from $40.00 to $43.00 in a report published on Wednesday, BenzingaRatingsTable reports. They currently have a buy rating on the stock.
Several other brokerages have also issued reports on GO. Morgan Stanley began coverage on Grocery Outlet in a report on Monday, July 15th. They set an equal weight rating and a $30.00 price target for the company. Barclays began coverage on Grocery Outlet in a report on Monday, July 15th. They set an equal weight rating and a $32.00 price target for the company. Goldman Sachs Group assumed coverage on Grocery Outlet in a report on Monday, July 15th. They set a neutral rating and a $32.00 price target for the company. Guggenheim assumed coverage on Grocery Outlet in a report on Monday, July 15th. They issued a neutral rating for the company. Finally, Bank of America boosted their target price on Grocery Outlet from $37.00 to $40.00 and gave the stock a neutral rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $40.00.
Shares of Grocery Outlet stock opened at $46.64 on Wednesday. Grocery Outlet has a 52-week low of $27.75 and a 52-week high of $47.30. The firm’s 50-day moving average price is $36.39.
In related news, President Robert Joseph Jr. Sheedy bought 10,000 shares of Grocery Outlet stock in a transaction that occurred on Monday, June 24th. The stock was purchased at an average cost of $22.00 per share, for a total transaction of $220,000.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Charles Bracher purchased 2,610 shares of the company’s stock in a transaction on Monday, June 24th. The stock was acquired at an average cost of $22.00 per share, for a total transaction of $57,420.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 58,530 shares of company stock valued at $1,287,660.
Hedge funds and other institutional investors have recently modified their holdings of the business. Harbor Advisors LLC acquired a new position in shares of Grocery Outlet in the 2nd quarter worth approximately $217,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Grocery Outlet during the 2nd quarter worth approximately $2,854,000. Ladenburg Thalmann Financial Services Inc. bought a new position in shares of Grocery Outlet during the 2nd quarter worth approximately $30,000. OZ Management LP acquired a new stake in Grocery Outlet in the 2nd quarter valued at $1,973,000. Finally, Waddell & Reed Financial Inc. acquired a new stake in Grocery Outlet in the 2nd quarter valued at $6,576,000.
Grocery Outlet Company Profile
Grocery Outlet Holding Corp. owns and operates a chain of grocery stores in the United States. The company offers products in various categories, such as grocery, dairy and deli, produce, refrigerated and frozen, floral, beer and wine, general merchandise, and health and beauty care, as well as fresh meat and seafood; and natural, organic, specialty, and healthy products.
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