Grocery Outlet Holding Corp. (NASDAQ:GO) Director Buys $274,740.00 in Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Erik D. Ragatz bought 19,000 shares of the company’s stock in a transaction dated Friday, May 9th. The stock was purchased at an average cost of $14.46 per share, for a total transaction of $274,740.00. Following the completion of the transaction, the director now owns 19,000 shares of the company’s stock, valued at $274,740. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Grocery Outlet Price Performance

NASDAQ GO opened at $13.71 on Wednesday. The company has a 50 day moving average price of $14.20 and a two-hundred day moving average price of $15.83. Grocery Outlet Holding Corp. has a 12-month low of $10.26 and a 12-month high of $23.25. The stock has a market capitalization of $1.34 billion, a PE ratio of 26.88, a price-to-earnings-growth ratio of 9.08 and a beta of 0.42. 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 (NASDAQ:GO) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.06. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. Grocery Outlet’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.09 EPS. As a group, equities analysts predict 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 institutional investors and hedge funds have recently made changes to their positions in GO. Vanguard Group Inc. increased its holdings in shares of Grocery Outlet by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 10,717,454 shares of the company’s stock valued at $149,830,000 after acquiring an additional 582,822 shares during the last quarter. FPR Partners LLC boosted its position in Grocery Outlet by 15.2% during the fourth quarter. FPR Partners LLC now owns 5,991,474 shares of the company’s stock worth $93,527,000 after purchasing an additional 791,474 shares during the period. Dimensional Fund Advisors LP grew its holdings in Grocery Outlet by 0.9% during the fourth 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. Simcoe Capital Management LLC acquired a new position in Grocery Outlet during the fourth quarter valued at approximately $53,185,000. Finally, Clearbridge Investments LLC raised its position in shares of Grocery Outlet by 9.4% in the fourth quarter. Clearbridge Investments LLC now owns 3,158,059 shares of the company’s stock valued at $49,297,000 after purchasing an additional 272,285 shares during the period. Institutional investors and hedge funds own 99.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GO. Wells Fargo & Company increased their target price on Grocery Outlet from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Telsey Advisory Group reiterated a “market perform” rating and issued a $16.00 target price on shares of Grocery Outlet in a report on Wednesday, April 30th. UBS Group increased their price target on shares of Grocery Outlet from $14.50 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. 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 research report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 target price for the company. in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $15.62.

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.