Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) Director Thomas F. Herman sold 2,000 shares of the company's stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $36.09, for a total value of $72,180.00. Following the sale, the director now owns 37,917 shares of the company's stock, valued at approximately $1,368,424.53. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Grocery Outlet Trading Up 0.2 %
Grocery Outlet stock opened at $35.71 on Friday. The business has a 50 day moving average price of $41.59 and a two-hundred day moving average price of $37.78. The company has a quick ratio of 0.42, a current ratio of 1.65 and a debt-to-equity ratio of 0.36. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 63.77, a price-to-earnings-growth ratio of 3.87 and a beta of -0.23. Grocery Outlet Holding Corp. has a 12 month low of $21.01 and a 12 month high of $46.37.
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Grocery Outlet (NASDAQ:GO – Get Rating) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.18 by $0.05. The firm had revenue of $897.70 million during the quarter, compared to analysts' expectations of $859.80 million. Grocery Outlet had a return on equity of 8.57% and a net margin of 1.69%. The company's revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 EPS. As a group, equities analysts forecast that Grocery Outlet Holding Corp. will post 0.78 EPS for the current year.
Hedge Funds Weigh In On Grocery Outlet
Several large investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its holdings in Grocery Outlet by 58.1% in the 2nd quarter. Captrust Financial Advisors now owns 762 shares of the company's stock valued at $32,000 after acquiring an additional 280 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Grocery Outlet by 1.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 22,900 shares of the company's stock worth $778,000 after buying an additional 400 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Grocery Outlet by 1.6% in the 1st quarter. Treasurer of the State of North Carolina now owns 32,189 shares of the company's stock worth $1,055,000 after buying an additional 515 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Grocery Outlet by 2.4% in the 2nd quarter. Exchange Traded Concepts LLC now owns 23,862 shares of the company's stock worth $1,017,000 after buying an additional 548 shares in the last quarter. Finally, Retirement Systems of Alabama raised its holdings in shares of Grocery Outlet by 0.8% in the 2nd quarter. Retirement Systems of Alabama now owns 115,522 shares of the company's stock worth $4,925,000 after buying an additional 876 shares in the last quarter. Institutional investors and hedge funds own 98.42% of the company's stock.
Analysts Set New Price Targets
GO has been the subject of several recent analyst reports. Telsey Advisory Group upped their price target on Grocery Outlet from $48.00 to $50.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 10th. Morgan Stanley downgraded Grocery Outlet from an "equal weight" rating to an "underweight" rating and upped their price target for the stock from $29.00 to $33.00 in a research note on Tuesday, August 23rd. The Goldman Sachs Group upped their price target on Grocery Outlet from $43.00 to $49.00 and gave the stock a "buy" rating in a research note on Wednesday, August 10th. TheStreet upgraded Grocery Outlet from a "c" rating to a "b" rating in a research note on Tuesday, June 21st. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Grocery Outlet from $48.00 to $51.00 and gave the company a "buy" rating in a research note on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Grocery Outlet currently has a consensus rating of "Moderate Buy" and an average target price of $43.80.
Grocery Outlet Company Profile
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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.
Further Reading
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