Grocery Outlet (NASDAQ:GO – Get Rating) had its price objective increased by analysts at Cowen from $45.00 to $53.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. Cowen’s target price suggests a potential upside of 26.01% from the stock’s previous close.
A number of other equities analysts have also recently commented on GO. Deutsche Bank Aktiengesellschaft lifted their price target on Grocery Outlet from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday. The Goldman Sachs Group boosted their price target on Grocery Outlet from $43.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday. DA Davidson downgraded shares of Grocery Outlet from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $36.00 to $43.00 in a research report on Wednesday, July 6th. They noted that the move was a valuation call. TheStreet upgraded shares of Grocery Outlet from a “c” rating to a “b” rating in a report on Tuesday, June 21st. Finally, Bank of America raised shares of Grocery Outlet from an “underperform” rating to a “buy” rating and upped their price target for the company from $23.00 to $37.00 in a research report on Friday, April 29th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.30.
Grocery Outlet Stock Performance
GO opened at $42.06 on Thursday. The business’s 50-day moving average price is $42.25 and its two-hundred day moving average price is $35.14. Grocery Outlet has a 1 year low of $21.01 and a 1 year high of $46.37. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of 75.11, a P/E/G ratio of 5.49 and a beta of -0.27. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.90 and a quick ratio of 0.68.
Grocery Outlet (NASDAQ:GO – Get Rating) last released its earnings results on Tuesday, August 9th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The business had revenue of $897.70 million for the quarter, compared to the consensus estimate of $859.80 million. Grocery Outlet had a return on equity of 8.65% and a net margin of 1.74%. Grocery Outlet’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 earnings per share. Equities analysts expect that Grocery Outlet will post 0.78 EPS for the current fiscal year.
Insider Buying and Selling at Grocery Outlet
In other news, VP Lindsay E. Gray sold 2,500 shares of Grocery Outlet stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $38.41, for a total transaction of $96,025.00. Following the sale, the vice president now owns 18,598 shares of the company’s stock, valued at approximately $714,349.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Thomas F. Herman sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $36.10, for a total transaction of $72,200.00. Following the completion of the transaction, the director now directly owns 41,517 shares of the company’s stock, valued at $1,498,763.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lindsay E. Gray sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $38.41, for a total transaction of $96,025.00. Following the transaction, the vice president now directly owns 18,598 shares of the company’s stock, valued at $714,349.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 680,705 shares of company stock worth $26,525,184. 11.20% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Yousif Capital Management LLC purchased a new stake in Grocery Outlet during the fourth quarter valued at approximately $1,010,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Grocery Outlet by 73.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,868 shares of the company’s stock valued at $364,000 after buying an additional 5,468 shares during the last quarter. Mutual of America Capital Management LLC increased its holdings in Grocery Outlet by 1.6% during the fourth quarter. Mutual of America Capital Management LLC now owns 78,169 shares of the company’s stock valued at $2,211,000 after buying an additional 1,204 shares during the last quarter. American Century Companies Inc. increased its holdings in Grocery Outlet by 61.2% during the fourth quarter. American Century Companies Inc. now owns 533,504 shares of the company’s stock valued at $15,088,000 after buying an additional 202,487 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Grocery Outlet by 20.8% during the fourth quarter. Victory Capital Management Inc. now owns 22,044 shares of the company’s stock valued at $623,000 after buying an additional 3,797 shares during the last quarter. 96.41% of the stock is owned by hedge funds and other institutional investors.
About Grocery Outlet
Grocery Outlet Holding Corp. owns and operates a network of independently operated stores in the United States. The company’s stores offer products in various categories, such as dairy and deli, produce, floral, and fresh meat and seafood products, as well as grocery, general merchandise, health and beauty care, frozen foods, and beer and wine.