Grocery Outlet Holding Corp. (NASDAQ:GO) SVP Sells $24,424.96 in Stock

by · The Markets Daily

Grocery Outlet Holding Corp. (NASDAQ:GO – Get Free Report) SVP Lindsay E. Gray sold 1,856 shares of Grocery Outlet stock in a transaction on Monday, March 10th. The stock was sold at an average price of $13.16, for a total transaction of $24,424.96. Following the completion of the transaction, the senior vice president now owns 39,592 shares in the company, valued at $521,030.72. This trade represents a 4.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Grocery Outlet Price Performance

Shares of GO traded down $0.58 during mid-day trading on Tuesday, reaching $12.88. The company had a trading volume of 2,838,419 shares, compared to its average volume of 2,024,251. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The company has a market capitalization of $1.25 billion, a P/E ratio of 25.26, a P/E/G ratio of 9.08 and a beta of 0.36. Grocery Outlet Holding Corp. has a twelve month low of $10.26 and a twelve month high of $29.13. The company’s 50-day moving average is $15.52 and its 200-day moving average is $16.74.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GO. Morgan Stanley reduced their price objective on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating for the company in a research report on Wednesday, February 26th. Bank of America reduced their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Telsey Advisory Group dropped their price objective on shares of Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating on the stock in a report on Wednesday, February 26th. The Goldman Sachs Group reduced their target price on shares of Grocery Outlet from $14.00 to $11.00 and set a “sell” rating for the company in a research note on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft lowered Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $15.25.

Check Out Our Latest Stock Analysis on GO

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Creative Planning bought a new stake in shares of Grocery Outlet in the 3rd quarter worth about $198,000. Capital Performance Advisors LLP bought a new stake in Grocery Outlet during the third quarter worth about $32,000. State of New Jersey Common Pension Fund D grew its stake in Grocery Outlet by 28.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 111,500 shares of the company’s stock worth $1,957,000 after buying an additional 24,672 shares during the last quarter. Versor Investments LP acquired a new stake in shares of Grocery Outlet during the third quarter worth approximately $634,000. Finally, WCM Investment Management LLC boosted its holdings in shares of Grocery Outlet by 3.8% in the 3rd quarter. WCM Investment Management LLC now owns 1,264,133 shares of the company’s stock worth $22,337,000 after acquiring an additional 46,632 shares in the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.

About Grocery Outlet

(Get Free Report)

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.

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