Grocery Outlet (NASDAQ:GO) Lowered to “Hold” at Craig Hallum

Craig Hallum lowered shares of Grocery Outlet (NASDAQ:GO) from a buy rating to a hold rating in a research note published on Wednesday, MarketBeat reports. The brokerage currently has $20.00 price target on the stock, down from their prior price target of $32.00.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company assumed coverage on Grocery Outlet in a research report on Thursday, July 18th. They issued an overweight rating and a $28.00 target price for the company. The Goldman Sachs Group dropped their target price on shares of Grocery Outlet from $24.00 to $21.00 and set a sell rating on the stock in a report on Thursday, May 9th. TD Cowen decreased their target price on shares of Grocery Outlet from $43.00 to $25.00 and set a buy rating for the company in a research note on Friday, May 10th. Telsey Advisory Group dropped their price target on Grocery Outlet from $37.00 to $31.00 and set an outperform rating on the stock in a research note on Wednesday, May 8th. Finally, UBS Group reduced their price objective on Grocery Outlet from $30.00 to $27.00 and set a neutral rating for the company in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $26.60.

Grocery Outlet Stock Down 2.0 %

Shares of Grocery Outlet stock opened at $18.83 on Wednesday. The company has a 50-day simple moving average of $21.11 and a two-hundred day simple moving average of $24.12. Grocery Outlet has a 52-week low of $18.77 and a 52-week high of $36.54. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.30 and a current ratio of 1.25. The stock has a market capitalization of $1.88 billion, a PE ratio of 29.42, a price-to-earnings-growth ratio of 3.55 and a beta of 0.09.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.10). The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. Grocery Outlet had a net margin of 1.60% and a return on equity of 5.46%. On average, analysts anticipate that Grocery Outlet will post 0.69 EPS for the current fiscal year.

Insider Buying and Selling

In other Grocery Outlet news, Director John E. Bachman bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were bought at an average price of $20.09 per share, with a total value of $200,900.00. Following the purchase, the director now owns 25,872 shares of the company’s stock, valued at $519,768.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Erik D. Ragatz purchased 100,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was bought at an average cost of $20.91 per share, with a total value of $2,091,000.00. Following the completion of the purchase, the director now owns 429,785 shares in the company, valued at $8,986,804.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John E. Bachman acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were purchased at an average cost of $20.09 per share, for a total transaction of $200,900.00. Following the completion of the acquisition, the director now directly owns 25,872 shares in the company, valued at $519,768.48. The disclosure for this purchase can be found here. 4.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Grocery Outlet

Institutional investors and hedge funds have recently made changes to their positions in the business. Treasurer of the State of North Carolina increased its stake in Grocery Outlet by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 42,093 shares of the company’s stock worth $1,135,000 after acquiring an additional 410 shares during the last quarter. Versor Investments LP raised its holdings in Grocery Outlet by 1.5% during the 4th quarter. Versor Investments LP now owns 37,341 shares of the company’s stock valued at $1,007,000 after buying an additional 550 shares during the period. State of Michigan Retirement System boosted its stake in Grocery Outlet by 2.5% during the first quarter. State of Michigan Retirement System now owns 24,380 shares of the company’s stock worth $702,000 after buying an additional 600 shares during the period. Louisiana State Employees Retirement System increased its position in Grocery Outlet by 2.5% during the first quarter. Louisiana State Employees Retirement System now owns 28,600 shares of the company’s stock valued at $823,000 after acquiring an additional 700 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Grocery Outlet in the first quarter valued at $25,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

Grocery Outlet Company Profile

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.