Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) President Robert Joseph Jr. Sheedy sold 6,667 shares of the stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $44.22, for a total value of $294,814.74. Following the transaction, the president now owns 66,242 shares of the company's stock, valued at $2,929,221.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Robert Joseph Jr. Sheedy also recently made the following trade(s):
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- On Monday, July 11th, Robert Joseph Jr. Sheedy sold 6,667 shares of Grocery Outlet stock. The stock was sold at an average price of $44.30, for a total value of $295,348.10.
- On Monday, June 27th, Robert Joseph Jr. Sheedy sold 6,667 shares of Grocery Outlet stock. The stock was sold at an average price of $43.12, for a total value of $287,481.04.
- On Monday, June 13th, Robert Joseph Jr. Sheedy sold 6,667 shares of Grocery Outlet stock. The shares were sold at an average price of $38.32, for a total value of $255,479.44.
- On Monday, May 23rd, Robert Joseph Jr. Sheedy sold 100,000 shares of Grocery Outlet stock. The shares were sold at an average price of $38.01, for a total value of $3,801,000.00.
Grocery Outlet Stock Performance
NASDAQ:GO opened at $43.50 on Wednesday. The stock has a market cap of $4.19 billion, a P/E ratio of 77.68, a PEG ratio of 5.45 and a beta of -0.28. The stock has a 50 day simple moving average of $40.99 and a 200 day simple moving average of $33.92. The company has a current ratio of 1.90, a quick ratio of 0.68 and a debt-to-equity ratio of 0.44. Grocery Outlet Holding Corp. has a 1-year low of $21.01 and a 1-year high of $46.13.
Grocery Outlet (NASDAQ:GO – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. The business had revenue of $831.40 million during the quarter, compared to analysts' expectations of $810.39 million. Grocery Outlet had a return on equity of 8.65% and a net
margin of 1.74%. The firm's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the firm posted $0.23 EPS. Research analysts anticipate that Grocery Outlet Holding Corp. will post 0.78 earnings per share for the current year.
Institutional Trading of Grocery Outlet
Several hedge funds have recently added to or reduced their stakes in GO. Russell Investments Group Ltd. raised its holdings in Grocery Outlet by 22.8% in the 4th quarter. Russell Investments Group Ltd. now owns 315,358 shares of the company's stock valued at $8,917,000 after acquiring an additional 58,618 shares in the last quarter. New York State Teachers Retirement System raised its holdings in Grocery Outlet by 18.1% in the 4th quarter. New York State Teachers Retirement System now owns 65,627 shares of the company's stock valued at $1,856,000 after acquiring an additional 10,070 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Grocery Outlet in the 4th quarter valued at $4,833,000. Yousif Capital Management LLC acquired a new position in Grocery Outlet in the 4th quarter valued at $1,010,000. Finally, Equitable Trust Co. raised its holdings in shares of Grocery Outlet by 25.4% during the 4th quarter. Equitable Trust Co. now owns 20,344 shares of the company's stock worth $575,000 after buying an additional 4,119 shares in the last quarter. 96.41% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have weighed in on GO. Cowen raised their price target on Grocery Outlet from $42.00 to $45.00 and gave the company an "outperform" rating in a research note on Friday, June 10th. Deutsche Bank Aktiengesellschaft raised their price target on Grocery Outlet from $40.00 to $48.00 and gave the company a "buy" rating in a research note on Wednesday, June 29th. Bank of America upgraded Grocery Outlet from an "underperform" rating to a "buy" rating and raised their price target for the company from $23.00 to $37.00 in a research note on Friday, April 29th. They noted that the move was a valuation call. DA Davidson downgraded Grocery Outlet from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $36.00 to $43.00 in a research note on Wednesday, July 6th. They noted that the move was a valuation call. Finally, Craig Hallum upgraded Grocery Outlet from a "hold" rating to a "buy" rating and set a $43.00 target price for the company in a research note on Wednesday, May 11th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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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