Telsey Advisory Group Reaffirms Outperform Rating for Grocery Outlet (NASDAQ:GO)

Telsey Advisory Group reaffirmed their outperform rating on shares of Grocery Outlet (NASDAQ:GO) in a research note published on Tuesday morning, Marketbeat.com reports. Telsey Advisory Group currently has a $27.00 target price on the stock.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company began coverage on shares of Grocery Outlet in a report on Thursday, July 18th. They issued an “overweight” rating and a $28.00 target price on the stock. Roth Capital upgraded Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Craig Hallum downgraded Grocery Outlet from a “buy” rating to a “hold” rating and lowered their price target for the stock from $32.00 to $20.00 in a report on Wednesday, July 31st. UBS Group cut their price target on shares of Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Loop Capital initiated coverage on shares of Grocery Outlet in a report on Thursday, October 17th. They set a “hold” rating and a $17.00 price objective on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.27.

Grocery Outlet Stock Performance

Grocery Outlet stock opened at $14.30 on Tuesday. Grocery Outlet has a 1 year low of $13.60 and a 1 year high of $29.98. The company’s 50-day moving average is $16.86 and its two-hundred day moving average is $20.09. The company has a current ratio of 1.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.31. The company has a market cap of $1.40 billion, a PE ratio of 26.48, a PEG ratio of 3.21 and a beta of 0.10.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 earnings per share. Equities analysts anticipate that Grocery Outlet will post 0.68 earnings per share for the current year.

Insider Transactions at Grocery Outlet

In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of Grocery Outlet stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the sale, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,340,728.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the sale, the director now directly owns 70,938 shares in the company, valued at approximately $1,155,580.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $18.90, for a total value of $1,890,000.00. Following the completion of the sale, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,340,728.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 500,095 shares of company stock worth $8,876,548 in the last three months. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Grocery Outlet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capstone Investment Advisors LLC increased its stake in shares of Grocery Outlet by 161.1% during the first quarter. Capstone Investment Advisors LLC now owns 93,188 shares of the company’s stock worth $2,682,000 after purchasing an additional 57,496 shares during the period. Capital World Investors lifted its holdings in shares of Grocery Outlet by 281.4% during the first quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock worth $103,023,000 after buying an additional 2,641,016 shares in the last quarter. Millennium Management LLC boosted its position in shares of Grocery Outlet by 677.6% in the second quarter. Millennium Management LLC now owns 1,981,558 shares of the company’s stock valued at $43,832,000 after acquiring an additional 1,726,741 shares during the period. CWM LLC grew its stake in shares of Grocery Outlet by 505.6% in the third quarter. CWM LLC now owns 51,933 shares of the company’s stock valued at $911,000 after acquiring an additional 43,358 shares in the last quarter. Finally, Bleakley Financial Group LLC bought a new position in Grocery Outlet during the first quarter worth about $217,000. 99.87% of the stock is owned by institutional investors.

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.