Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) Director Thomas F. Herman sold 5,000 shares of Grocery Outlet stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $45.00, for a total transaction of $225,000.00. Following the transaction, the director now directly owns 34,517 shares in the company, valued at $1,553,265. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Grocery Outlet Trading Up 1.4 %
GO opened at $45.52 on Friday. The stock has a market capitalization of $4.39 billion, a PE ratio of 81.29, a P/E/G ratio of 5.54 and a beta of -0.28. The firm's fifty day moving average price is $39.62 and its 200 day moving average price is $33.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.90 and a quick ratio of 0.68. Grocery Outlet Holding Corp. has a 12-month low of $21.01 and a 12-month high of $45.20.
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Grocery Outlet (NASDAQ:GO – Get Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. The firm had revenue of $831.40 million for the quarter, compared to analysts' expectations of $810.39 million. Grocery Outlet had a net margin of 1.74% and a return on equity of 8.65%. The firm's quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share. As a group, research analysts expect that Grocery Outlet Holding Corp. will post 0.78 EPS for the current fiscal year.
Institutional Trading of Grocery Outlet
Several institutional investors have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. increased its stake in Grocery Outlet by 1.0% during the third quarter. UBS Asset Management Americas Inc. now owns 117,440 shares of the company's stock valued at $2,533,000 after purchasing an additional 1,128 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in Grocery Outlet during the fourth quarter valued at $229,000. Spire Wealth Management increased its stake in Grocery Outlet by 25.4% during the fourth quarter. Spire Wealth Management now owns 15,341 shares of the company's stock valued at $434,000 after purchasing an additional 3,103 shares during the last quarter. TRU Independence Asset Management 2 LLC bought a new stake in Grocery Outlet during the fourth quarter valued at $254,000. Finally, Russell Investments Group Ltd. increased its stake in Grocery Outlet by 22.8% during the fourth quarter. Russell Investments Group Ltd. now owns 315,358 shares of the company's stock valued at $8,917,000 after purchasing an additional 58,618 shares during the last quarter. 96.41% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on GO shares. Cowen lifted their price target on shares of Grocery Outlet from $42.00 to $45.00 and gave the company an "outperform" rating in a research report on Friday, June 10th. DA Davidson cut shares of Grocery Outlet from a "buy" rating to a "neutral" rating and lifted their price target for the company from $36.00 to $43.00 in a research report on Wednesday, July 6th. They noted that the move was a valuation call. Cowen lifted their price target on shares of Grocery Outlet from $42.00 to $45.00 in a research report on Friday, June 10th. Bank of America raised shares of Grocery Outlet from an "underperform" rating to a "buy" rating and boosted their target price for the stock from $23.00 to $37.00 in a research report on Friday, April 29th. They noted that the move was a valuation call. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Grocery Outlet from $40.00 to $48.00 and gave the stock a "buy" rating in a research report on Wednesday, June 29th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Grocery Outlet has a consensus rating of "Moderate Buy" and a consensus price target of $38.33.
About Grocery Outlet
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Grocery Outlet Holding Corp. owns and operates 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.
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