Grocery Outlet Holding Corp. (NASDAQ:GO) Director Erik D. Ragatz Purchases 36,500 Shares

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Erik D. Ragatz bought 36,500 shares of Grocery Outlet stock in a transaction on Friday, March 22nd. The shares were purchased at an average cost of $28.25 per share, with a total value of $1,031,125.00. Following the acquisition, the director now directly owns 36,500 shares of the company’s stock, valued at $1,031,125. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Grocery Outlet Price Performance

GO stock opened at $29.00 on Thursday. 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 business has a 50 day simple moving average of $26.17 and a 200-day simple moving average of $27.41. The firm has a market capitalization of $2.88 billion, a PE ratio of 36.71, a price-to-earnings-growth ratio of 2.66 and a beta of 0.08. Grocery Outlet Holding Corp. has a 1 year low of $23.41 and a 1 year high of $36.54.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $989.82 million during the quarter, compared to analyst estimates of $982.44 million. Grocery Outlet had a return on equity of 7.17% and a net margin of 2.00%. Equities research analysts anticipate that Grocery Outlet Holding Corp. will post 0.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors grew its position in Grocery Outlet by 58.1% in the second quarter. Captrust Financial Advisors now owns 762 shares of the company’s stock worth $32,000 after acquiring an additional 280 shares during the period. KBC Group NV purchased a new position in shares of Grocery Outlet during the fourth quarter worth $32,000. CWM LLC boosted its position in shares of Grocery Outlet by 248.0% during the third quarter. CWM LLC now owns 1,399 shares of the company’s stock worth $40,000 after buying an additional 997 shares during the period. Dark Forest Capital Management LP purchased a new position in shares of Grocery Outlet during the first quarter worth $55,000. Finally, State of Wyoming boosted its position in shares of Grocery Outlet by 78.7% during the fourth quarter. State of Wyoming now owns 2,012 shares of the company’s stock worth $59,000 after buying an additional 886 shares during the period. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.