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

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Erik D. Ragatz acquired 110,000 shares of the stock in a transaction on Friday, November 15th. The stock was bought at an average price of $18.25 per share, with a total value of $2,007,500.00. Following the transaction, the director now directly owns 539,785 shares in the company, valued at approximately $9,851,076.25. This represents a 25.59 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Grocery Outlet Price Performance

Grocery Outlet stock opened at $18.63 on Wednesday. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 36.53, a PEG ratio of 4.45 and a beta of 0.13. Grocery Outlet Holding Corp. has a 52-week low of $13.60 and a 52-week high of $29.80. The stock’s 50 day moving average price is $16.68 and its two-hundred day moving average price is $19.16. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46.

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

Hedge Funds Weigh In On Grocery Outlet

A number of large investors have recently modified their holdings of GO. GSA Capital Partners LLP purchased a new stake in shares of Grocery Outlet during the 3rd quarter valued at $2,507,000. Capital World Investors increased its position in shares of Grocery Outlet by 281.4% during the 1st quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock valued at $103,023,000 after purchasing an additional 2,641,016 shares during the last quarter. Millennium Management LLC increased its position in shares of Grocery Outlet by 677.6% during the 2nd quarter. Millennium Management LLC now owns 1,981,558 shares of the company’s stock valued at $43,832,000 after purchasing an additional 1,726,741 shares during the last quarter. CWM LLC increased its position in shares of Grocery Outlet by 505.6% during the 3rd quarter. CWM LLC now owns 51,933 shares of the company’s stock valued at $911,000 after purchasing an additional 43,358 shares during the last quarter. Finally, Bleakley Financial Group LLC purchased a new stake in shares of Grocery Outlet during the 1st quarter valued at $217,000. 99.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GO shares. TD Cowen lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $25.00 to $16.00 in a research note on Wednesday, November 6th. Roth Capital raised shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Craig Hallum cut 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 note on Wednesday, November 6th. The Goldman Sachs Group cut their price target on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a research note on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have 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 currently has a consensus rating of “Hold” and an average price target of $18.00.

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.