Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) Director Jeffrey York sold 50,000 shares of the company's stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $37.73, for a total transaction of $1,886,500.00. Following the completion of the sale, the director now directly owns 67,459 shares in the company, valued at $2,545,228.07. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Jeffrey York also recently made the following trade(s):
Get Grocery Outlet alerts:- On Thursday, August 18th, Jeffrey York sold 25,000 shares of Grocery Outlet stock. The shares were sold at an average price of $42.22, for a total transaction of $1,055,500.00.
Grocery Outlet Stock Performance
Shares of NASDAQ GO opened at $38.27 on Friday. The firm's 50-day moving average price is $42.29 and its 200-day moving average price is $37.37. Grocery Outlet Holding Corp. has a 52-week low of $21.01 and a 52-week high of $46.37. 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 company has a market cap of $3.71 billion, a PE ratio of 68.34, a PEG ratio of 4.18 and a beta of -0.23.
Grocery Outlet (NASDAQ:GO – Get Rating) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.05. Grocery Outlet had a net margin of 1.69% and a return on equity of 8.57%. The firm had revenue of $897.70 million for the quarter, compared to analysts' expectations of $859.80 million. During the same quarter in the prior year, the business earned $0.22 EPS. The business's quarterly revenue was up 15.8% on a year-over-year basis. As a group, analysts anticipate that Grocery Outlet Holding Corp. will post 0.78 EPS for the current year.Hedge Funds Weigh In On Grocery Outlet
Several institutional investors have recently made changes to their positions in the business. Amundi bought a new position in shares of Grocery Outlet in the 2nd quarter worth approximately $171,000. Prelude Capital Management LLC raised its stake in Grocery Outlet by 95.9% during the 2nd quarter. Prelude Capital Management LLC now owns 21,866 shares of the company's stock worth $932,000 after acquiring an additional 10,704 shares during the period. Captrust Financial Advisors raised its stake in Grocery Outlet by 58.1% during the 2nd quarter. Captrust Financial Advisors now owns 762 shares of the company's stock worth $32,000 after acquiring an additional 280 shares during the period. Goldman Sachs Group Inc. raised its stake in Grocery Outlet by 3.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 451,916 shares of the company's stock worth $19,265,000 after acquiring an additional 16,163 shares during the period. Finally, First Republic Investment Management Inc. raised its stake in Grocery Outlet by 15.8% during the 2nd quarter. First Republic Investment Management Inc. now owns 43,576 shares of the company's stock worth $1,858,000 after acquiring an additional 5,932 shares during the period. Institutional investors own 98.42% of the company's stock.
Wall Street Analyst Weigh In
Several analysts recently commented on GO shares. TheStreet raised shares of Grocery Outlet from a "c" rating to a "b" rating in a research report on Tuesday, June 21st. DA Davidson downgraded shares of Grocery Outlet from a "buy" rating to a "neutral" rating and increased their price objective 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. Telsey Advisory Group increased their price objective on shares of Grocery Outlet from $48.00 to $50.00 and gave the company an "outperform" rating in a research report on Wednesday, August 10th. Cowen increased their price objective on shares of Grocery Outlet from $45.00 to $53.00 in a research report on Wednesday, August 10th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Grocery Outlet from $48.00 to $51.00 and gave the company a "buy" rating in a report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $43.80.
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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