Grocery Outlet Holding Corp. (NASDAQ:GO) Director Erik D. Ragatz Acquires 165,000 Shares

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Erik D. Ragatz bought 165,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $12.25 per share, for a total transaction of $2,021,250.00. Following the completion of the purchase, the director now directly owns 201,500 shares of the company’s stock, valued at approximately $2,468,375. This trade represents a 452.05 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Grocery Outlet Price Performance

Shares of NASDAQ GO opened at $11.47 on Thursday. The stock has a market cap of $1.12 billion, a P/E ratio of 22.49, a P/E/G ratio of 9.08 and a beta of 0.36. Grocery Outlet Holding Corp. has a twelve month low of $10.26 and a twelve month high of $29.13. The stock has a 50 day moving average of $15.69 and a two-hundred day moving average of $16.87. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34.

Institutional Trading of Grocery Outlet

Institutional investors and hedge funds have recently bought and sold shares of the business. Creative Planning acquired a new position in Grocery Outlet in the third quarter valued at $198,000. Blue Trust Inc. grew its holdings in shares of Grocery Outlet by 76.6% during the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after buying an additional 722 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Grocery Outlet in the 3rd quarter valued at about $801,000. Nisa Investment Advisors LLC purchased a new stake in Grocery Outlet during the 3rd quarter valued at approximately $181,000. Finally, Capital Performance Advisors LLP acquired a new stake in Grocery Outlet during the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Craig Hallum dropped their price objective 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. Morgan Stanley dropped their target price on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company decreased their price target on Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Bank of America dropped their price objective on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Finally, Roth Mkm decreased their target price on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.25.

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.