Deutsche Bank Aktiengesellschaft Has Lowered Expectations for Grocery Outlet (NASDAQ:GO) Stock Price

Grocery Outlet (NASDAQ:GO) had its price objective trimmed by Deutsche Bank Aktiengesellschaft from $29.00 to $26.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also issued reports on GO. The Goldman Sachs Group reduced their target price on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a research report on Friday, November 1st. Telsey Advisory Group downgraded Grocery Outlet from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $27.00 to $19.00 in a research note on Wednesday, October 30th. Roth Capital upgraded Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Roth Mkm dropped their price target on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, UBS Group dropped their price target on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Grocery Outlet currently has an average rating of “Hold” and a consensus target price of $18.00.

Grocery Outlet Price Performance

Shares of GO stock opened at $17.80 on Wednesday. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 34.90, a P/E/G ratio of 3.92 and a beta of 0.13. The company has a current ratio of 1.46, a quick ratio of 0.29 and a debt-to-equity ratio of 0.34. Grocery Outlet has a twelve month low of $13.60 and a twelve month high of $29.98. The stock has a fifty day simple moving average of $16.55 and a two-hundred day simple moving average of $19.64.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 EPS. On average, analysts predict that Grocery Outlet will post 0.65 EPS for the current fiscal year.

Insider Buying and Selling at Grocery Outlet

In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the sale, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the completion of the sale, the director now owns 70,938 shares of the company’s stock, valued at $1,155,580.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $18.44, for a total value of $1,844,000.00. Following the sale, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,308,096.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 500,095 shares of company stock valued at $8,876,548 over the last quarter. 4.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GO. Allspring Global Investments Holdings LLC acquired a new position in shares of Grocery Outlet during the 1st quarter worth about $25,000. Blue Trust Inc. lifted its holdings in shares of Grocery Outlet by 76.6% in the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Grocery Outlet in the 3rd quarter valued at about $32,000. Innealta Capital LLC purchased a new stake in shares of Grocery Outlet in the 2nd quarter valued at about $38,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Grocery Outlet in the 2nd quarter valued at about $82,000. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

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.