Grocery Outlet (NASDAQ:GO) Hits New 52-Week Low After Analyst Downgrade

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) hit a new 52-week low during trading on Wednesday after UBS Group lowered their price target on the stock from $30.00 to $27.00. UBS Group currently has a neutral rating on the stock. Grocery Outlet traded as low as $22.04 and last traded at $22.04, with a volume of 6183 shares trading hands. The stock had previously closed at $25.90.

Several other brokerages also recently commented on GO. Craig Hallum raised shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Wednesday, February 28th. Telsey Advisory Group decreased their target price on Grocery Outlet from $37.00 to $31.00 and set an “outperform” rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $30.44.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, Director Thomas F. Herman sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $29.00, for a total value of $58,000.00. Following the sale, the director now owns 11,400 shares in the company, valued at approximately $330,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Grocery Outlet news, insider Andrea Renee Bortner sold 4,112 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $26.33, for a total transaction of $108,268.96. Following the sale, the insider now directly owns 49,308 shares of the company’s stock, valued at approximately $1,298,279.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas F. Herman sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $29.00, for a total value of $58,000.00. Following the completion of the transaction, the director now owns 11,400 shares of the company’s stock, valued at approximately $330,600. The disclosure for this sale can be found here. Insiders have sold 506,588 shares of company stock valued at $13,367,577 in the last 90 days. 4.50% of the stock is currently owned by company insiders.

Institutional Trading of Grocery Outlet

Institutional investors and hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue lifted its stake in Grocery Outlet by 6.6% in the third quarter. State of Alaska Department of Revenue now owns 11,818 shares of the company’s stock valued at $340,000 after acquiring an additional 730 shares during the last quarter. Xponance Inc. grew its holdings in Grocery Outlet by 7.1% during the third quarter. Xponance Inc. now owns 11,652 shares of the company’s stock worth $336,000 after purchasing an additional 776 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Grocery Outlet by 12.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,364 shares of the company’s stock worth $530,000 after buying an additional 2,074 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in Grocery Outlet by 7.4% in the third quarter. Oregon Public Employees Retirement Fund now owns 27,744 shares of the company’s stock valued at $800,000 after buying an additional 1,900 shares during the period. Finally, State of Michigan Retirement System lifted its position in shares of Grocery Outlet by 6.8% in the third quarter. State of Michigan Retirement System now owns 23,580 shares of the company’s stock valued at $680,000 after buying an additional 1,500 shares during the last quarter. Institutional investors own 99.87% of the company’s stock.

Grocery Outlet Price Performance

The company has a current ratio of 1.35, a quick ratio of 0.43 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $2.09 billion, a P/E ratio of 26.59, a P/E/G ratio of 2.47 and a beta of 0.13. The company has a 50 day moving average price of $26.94 and a 200 day moving average price of $27.07.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $989.82 million during the quarter, compared to analysts’ expectations of $982.44 million. Grocery Outlet had a net margin of 2.00% and a return on equity of 7.17%. On average, equities analysts predict that Grocery Outlet Holding Corp. will post 0.95 EPS for the current fiscal year.

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.