Grocery Outlet Holding Corp. (NASDAQ:GO) Director Buys $2,007,500.00 in Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Erik D. Ragatz bought 110,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average price of $18.25 per share, with a total value of $2,007,500.00. Following the completion of the purchase, the director now owns 539,785 shares in the company, valued at approximately $9,851,076.25. The trade was a 25.59 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Grocery Outlet Stock Down 1.0 %

Shares of NASDAQ GO opened at $18.44 on Thursday. The firm’s 50-day simple moving average is $16.71 and its 200 day simple moving average is $19.15. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 36.16, a price-to-earnings-growth ratio of 4.45 and a beta of 0.13. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. Grocery Outlet Holding Corp. has a 12-month low of $13.60 and a 12-month high of $29.80.

Grocery Outlet (NASDAQ:GO) last released its earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the company posted $0.25 EPS. The company’s revenue was up 10.4% compared to the same quarter last year. On average, research analysts expect that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

Institutional Trading of Grocery Outlet

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Grocery Outlet by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 9,333,850 shares of the company’s stock valued at $268,628,000 after acquiring an additional 60,830 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Grocery Outlet by 22.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,613,617 shares of the company’s stock valued at $79,933,000 after acquiring an additional 655,065 shares during the period. Capital World Investors raised its position in shares of Grocery Outlet by 281.4% in the 1st quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock valued at $103,023,000 after acquiring an additional 2,641,016 shares during the period. Van Berkom & Associates Inc. raised its position in shares of Grocery Outlet by 21.1% in the 2nd quarter. Van Berkom & Associates Inc. now owns 3,498,533 shares of the company’s stock valued at $77,388,000 after acquiring an additional 609,871 shares during the period. Finally, State Street Corp raised its position in shares of Grocery Outlet by 0.6% in the 3rd quarter. State Street Corp now owns 3,407,152 shares of the company’s stock valued at $59,796,000 after acquiring an additional 21,237 shares during the period. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GO has been the subject of several research analyst reports. Roth Mkm cut their target price on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Loop Capital initiated coverage on shares of Grocery Outlet in a research note on Thursday, October 17th. They set a “hold” rating and a $17.00 target price for the company. The Goldman Sachs Group cut their target price on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a research note on Friday, November 1st. Telsey Advisory Group cut their target price on shares of Grocery Outlet from $19.00 to $18.00 and set a “market perform” rating for the company in a research note on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.00.

Grocery Outlet Company Profile

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.