Brokerages Set Grocery Outlet Holding Corp. (NASDAQ:GO) Price Target at $15.58

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have been given a consensus recommendation of “Hold” by the thirteen research firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $15.25.

A number of brokerages have weighed in on GO. TD Cowen downgraded Grocery Outlet from a “buy” rating to a “hold” rating and lowered their price target for the stock from $25.00 to $16.00 in a research report on Wednesday, November 6th. Roth Mkm lowered their price target on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Telsey Advisory Group lowered their price target on Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 26th. Bank of America lowered their price target on 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, The Goldman Sachs Group decreased their target price on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating on the stock in a research report on Thursday, February 27th.

Grocery Outlet Price Performance

Shares of NASDAQ GO opened at $11.47 on Thursday. The business’s 50 day moving average price is $15.69 and its two-hundred day moving average price is $16.87. The company has a market cap of $1.12 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 9.08 and a beta of 0.32. 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 has a twelve month low of $10.26 and a twelve month high of $29.13.

Insider Activity at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz bought 165,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was purchased at an average cost 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Christopher M. Miller bought 10,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were acquired at an average price of $11.68 per share, with a total value of $116,800.00. Following the completion of the purchase, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $116,800. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 200,000 shares of company stock worth $2,435,050. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FPR Partners LLC lifted its stake 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 last quarter. Dimensional Fund Advisors LP lifted its stake 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 worth $59,845,000 after purchasing an additional 35,938 shares during the last quarter. State Street Corp lifted its stake in Grocery Outlet by 0.6% during the third quarter. State Street Corp now owns 3,407,152 shares of the company’s stock worth $59,796,000 after purchasing an additional 21,237 shares during the last quarter. Simcoe Capital Management LLC bought a new stake in Grocery Outlet during the fourth quarter worth $53,185,000. Finally, Clearbridge Investments LLC lifted its stake in 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 purchasing an additional 272,285 shares during the last quarter. 99.87% of the stock is currently owned by 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.