Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) SVP Lindsay E. Gray sold 1,856 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $13.16, for a total value of $24,424.96. Following the completion of the sale, the senior vice president now directly owns 39,592 shares of the company's stock, valued at $521,030.72. The trade was a 4.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Grocery Outlet Price Performance
GO stock opened at $12.88 on Wednesday. Grocery Outlet Holding Corp. has a 52-week low of $10.26 and a 52-week high of $29.13. The stock's fifty day simple moving average is $15.47 and its 200-day simple moving average is $16.71. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 25.26, a price-to-earnings-growth ratio of 9.08 and a beta of 0.36.
Institutional Investors Weigh In On Grocery Outlet
Several hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. raised its position in shares of Grocery Outlet by 1.8% in the 3rd quarter. Franklin Resources Inc. now owns 29,987 shares of the company's stock worth $526,000 after buying an additional 529 shares during the period. Amundi raised its position in shares of Grocery Outlet by 0.6% in the 4th quarter. Amundi now owns 116,139 shares of the company's stock worth $1,895,000 after buying an additional 719 shares during the period. Cedar Wealth Management LLC raised its position in shares of Grocery Outlet by 3.9% in the 4th quarter. Cedar Wealth Management LLC now owns 20,370 shares of the company's stock worth $318,000 after buying an additional 765 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Grocery Outlet by 2.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 46,875 shares of the company's stock valued at $732,000 after purchasing an additional 1,240 shares during the period. Finally, Integrated Wealth Concepts LLC raised its position in Grocery Outlet by 9.6% in the fourth quarter. Integrated Wealth Concepts LLC now owns 15,671 shares of the company's stock valued at $245,000 after purchasing an additional 1,377 shares during the period. Institutional investors and hedge funds own 99.87% of the company's stock.
Analysts Set New Price Targets
Several analysts have commented on GO shares. Wells Fargo & Company reduced their price objective on Grocery Outlet from $23.00 to $18.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Telsey Advisory Group cut their target price on Grocery Outlet from $18.00 to $16.00 and set a "market perform" rating for the company in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft downgraded Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 target price for the company. in a research note on Wednesday, February 26th. Morgan Stanley cut their target price on Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating for the company in a research note on Wednesday, February 26th. Finally, Bank of America cut their target price on Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $15.25.
View Our Latest Stock Analysis on GO
Grocery Outlet Company Profile
(
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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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