Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) Director Erik D. Ragatz purchased 110,000 shares of the stock in a transaction dated Friday, November 15th. The shares were acquired at an average cost of $18.25 per share, with a total value of $2,007,500.00. Following the acquisition, the director now directly owns 539,785 shares in the company, valued at $9,851,076.25. This represents a 25.59 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Grocery Outlet Stock Up 0.2 %
Grocery Outlet stock opened at $17.86 on Tuesday. The firm has a 50 day moving average price of $16.64 and a two-hundred day moving average price of $19.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. Grocery Outlet Holding Corp. has a 52-week low of $13.60 and a 52-week high of $29.80. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 35.02, a PEG ratio of 4.45 and a beta of 0.13.
Grocery Outlet (NASDAQ:GO - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The business's revenue was up 10.4% compared to the same quarter last year. During the same period last year, the business posted $0.25 EPS. Equities analysts predict that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.
Institutional Trading of Grocery Outlet
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Several hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new stake in Grocery Outlet in the first quarter valued at $25,000. Blue Trust Inc. grew its stake in shares of Grocery Outlet by 76.6% in the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company's stock valued at $29,000 after buying an additional 722 shares during the period. Capital Performance Advisors LLP bought a new stake in Grocery Outlet in the 3rd quarter valued at about $32,000. Innealta Capital LLC bought a new position in Grocery Outlet in the second quarter worth approximately $38,000. Finally, True Wealth Design LLC acquired a new stake in Grocery Outlet in the third quarter valued at approximately $75,000. Institutional investors own 99.87% of the company's stock.
Analyst Ratings Changes
Several research analysts have commented on the company. The Goldman Sachs Group lowered their target price on Grocery Outlet from $17.00 to $15.00 and set a "sell" rating for the company in a research note on Friday, November 1st. TD Cowen downgraded shares of Grocery Outlet from a "buy" rating to a "hold" rating and dropped their price objective for the company from $25.00 to $16.00 in a research note on Wednesday, November 6th. Melius Research assumed coverage on shares of Grocery Outlet in a report on Monday, September 23rd. They set a "hold" rating and a $17.00 price target for the company. Loop Capital started coverage on Grocery Outlet in a report on Thursday, October 17th. They set a "hold" rating and a $17.00 price objective on the stock. Finally, UBS Group dropped their target price on Grocery Outlet from $21.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Grocery Outlet presently has an average rating of "Hold" and an average target price of $18.00.
Get Our Latest Stock Analysis on Grocery Outlet
About Grocery Outlet
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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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