Erik D. Ragatz Purchases 36,500 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Erik D. Ragatz purchased 36,500 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was bought at an average cost of $28.25 per share, for a total transaction of $1,031,125.00. Following the completion of the purchase, the director now directly owns 36,500 shares in the company, valued at $1,031,125. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Grocery Outlet Price Performance

Shares of GO stock opened at $29.00 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.43 and a current ratio of 1.35. Grocery Outlet Holding Corp. has a fifty-two week low of $23.41 and a fifty-two week high of $36.54. The firm has a market cap of $2.88 billion, a P/E ratio of 36.71, a P/E/G ratio of 2.66 and a beta of 0.08. The business’s 50 day moving average price is $26.17 and its 200-day moving average price is $27.41.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. Grocery Outlet had a return on equity of 7.17% and a net margin of 2.00%. The company had revenue of $989.82 million for the quarter, compared to analyst estimates of $982.44 million. On average, equities research analysts anticipate that Grocery Outlet Holding Corp. will post 0.95 earnings per share for the current year.

Institutional Investors Weigh In On Grocery Outlet

Several hedge funds have recently made changes to their positions in GO. Captrust Financial Advisors boosted its position in shares of Grocery Outlet by 58.1% during the second quarter. Captrust Financial Advisors now owns 762 shares of the company’s stock valued at $32,000 after purchasing an additional 280 shares in the last quarter. KBC Group NV bought a new stake in Grocery Outlet in the fourth quarter worth $32,000. CWM LLC boosted its holdings in Grocery Outlet by 248.0% in the third quarter. CWM LLC now owns 1,399 shares of the company’s stock worth $40,000 after acquiring an additional 997 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in Grocery Outlet in the first quarter worth $55,000. Finally, State of Wyoming boosted its holdings in Grocery Outlet by 78.7% in the fourth quarter. State of Wyoming now owns 2,012 shares of the company’s stock worth $59,000 after acquiring an additional 886 shares in the last quarter. 99.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. The Goldman Sachs Group cut Grocery Outlet from a “buy” rating to a “sell” rating and decreased their price target for the stock from $33.00 to $24.00 in a research note on Tuesday, December 12th. Craig Hallum raised Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Wednesday, February 28th. UBS Group decreased their price target on Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. Finally, Telsey Advisory Group decreased their price target on Grocery Outlet from $40.00 to $37.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $31.44.

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.