Grocery Outlet (NASDAQ:GO) Trading 4.6% Higher – Time to Buy?

Grocery Outlet Holding Corp. (NASDAQ:GO)’s stock price traded up 4.6% during mid-day trading on Wednesday . The stock traded as high as $12.64 and last traded at $12.77. 163,141 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 2,044,771 shares. The stock had previously closed at $12.21.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Telsey Advisory Group reduced their price objective on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating for the company in a research note on Wednesday, February 26th. The Goldman Sachs Group reduced their price target on shares of Grocery Outlet from $14.00 to $11.00 and set a “sell” rating for the company in a research report on Thursday, February 27th. Bank of America lowered their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company reduced their price objective on shares of Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft lowered 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, February 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $15.25.

Grocery Outlet Stock Performance

The firm has a market cap of $1.26 billion, a PE ratio of 25.43, a PEG ratio of 9.08 and a beta of 0.36. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The company has a 50-day simple moving average of $14.61 and a two-hundred day simple moving average of $16.26.

Insider Buying and Selling

In other news, CFO Christopher M. Miller acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average price of $11.68 per share, for a total transaction of $116,800.00. Following the completion of the purchase, the chief financial officer now owns 10,000 shares in the company, valued at approximately $116,800. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Erik D. Ragatz acquired 165,000 shares of Grocery Outlet stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $12.25 per share, with a total value of $2,021,250.00. Following the completion of the acquisition, the director now owns 201,500 shares of the company’s stock, valued at $2,468,375. This trade represents a 452.05 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 200,000 shares of company stock valued at $2,435,050 and have sold 17,756 shares valued at $216,892. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Grocery Outlet

Several institutional investors have recently added to or reduced their stakes in the business. Decker Retirement Planning Inc. purchased a new stake in shares of Grocery Outlet during the fourth quarter worth $31,000. Aster Capital Management DIFC Ltd purchased a new stake in Grocery Outlet during the 4th quarter worth about $41,000. Quadrant Capital Group LLC boosted its stake in Grocery Outlet by 276.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company’s stock worth $43,000 after purchasing an additional 2,036 shares during the period. KBC Group NV boosted its stake in Grocery Outlet by 62.7% in the 4th quarter. KBC Group NV now owns 4,506 shares of the company’s stock worth $70,000 after purchasing an additional 1,736 shares during the period. Finally, True Wealth Design LLC purchased a new position in Grocery Outlet during the 3rd quarter valued at about $75,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

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.