Telsey Advisory Group Cuts Grocery Outlet (NASDAQ:GO) Price Target to $16.00

Grocery Outlet (NASDAQ:GO) had its price objective decreased by Telsey Advisory Group from $18.00 to $16.00 in a research note released on Wednesday,Benzinga reports. Telsey Advisory Group currently has a market perform rating on the stock.

A number of other brokerages also recently weighed in on GO. Roth Mkm cut their price objective on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Craig Hallum dropped their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Bank of America decreased their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a report on Wednesday. Finally, UBS Group lowered their price target on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Grocery Outlet has an average rating of “Hold” and a consensus price target of $15.58.

Grocery Outlet Trading Down 30.2 %

Grocery Outlet stock opened at $10.99 on Wednesday. Grocery Outlet has a one year low of $10.26 and a one year high of $29.19. The company’s fifty day moving average price is $16.14 and its two-hundred day moving average price is $17.14. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 9.08 and a beta of 0.32.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FPR Partners LLC boosted its stake in shares of Grocery Outlet by 15.2% in the 4th quarter. FPR Partners LLC now owns 5,991,474 shares of the company’s stock valued at $93,527,000 after purchasing an additional 791,474 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Grocery Outlet by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,833,955 shares of the company’s stock valued at $59,845,000 after purchasing an additional 35,938 shares during the last quarter. State Street Corp boosted its position in Grocery Outlet by 0.6% in the third quarter. State Street Corp now owns 3,407,152 shares of the company’s stock valued at $59,796,000 after buying an additional 21,237 shares in the last quarter. Simcoe Capital Management LLC bought a new stake in Grocery Outlet during the fourth quarter worth about $53,185,000. Finally, Clearbridge Investments LLC increased its holdings in shares of Grocery Outlet by 9.4% during the fourth quarter. Clearbridge Investments LLC now owns 3,158,059 shares of the company’s stock worth $49,297,000 after buying an additional 272,285 shares in the last quarter. Institutional investors own 99.87% of the company’s stock.

About Grocery Outlet

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.