Grocery Outlet Holding Corp. (NASDAQ:GO) EVP Steven K. Wilson Sells 15,000 Shares

Grocery Outlet Holding Corp. (NASDAQ:GO) EVP Steven K. Wilson sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $28.50, for a total transaction of $427,500.00. Following the completion of the transaction, the executive vice president now directly owns 165,931 shares of the company’s stock, valued at $4,729,033.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Grocery Outlet Stock Performance

Grocery Outlet stock opened at $29.00 on Thursday. The firm’s fifty day moving average price is $26.17 and its 200-day moving average price is $27.41. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.43 and a current ratio of 1.35. The stock has a market cap of $2.88 billion, a P/E ratio of 36.71, a price-to-earnings-growth ratio of 2.66 and a beta of 0.08. Grocery Outlet Holding Corp. has a fifty-two week low of $23.41 and a fifty-two week high of $36.54.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. The firm had revenue of $989.82 million for 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 research analysts expect that Grocery Outlet Holding Corp. will post 0.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. UBS Group cut their price objective on shares of Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Craig Hallum raised shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Wednesday, February 28th. Telsey Advisory Group cut their price objective on shares of Grocery Outlet from $40.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group downgraded shares of Grocery Outlet from a “buy” rating to a “sell” rating and cut their price objective for the stock from $33.00 to $24.00 in a report on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.44.

Hedge Funds Weigh In On Grocery Outlet

A number of large investors have recently added to or reduced their stakes in the business. Capital Research Global Investors raised its position in Grocery Outlet by 2.2% in the 4th quarter. Capital Research Global Investors now owns 9,342,414 shares of the company’s stock worth $251,871,000 after purchasing an additional 199,926 shares during the period. Vanguard Group Inc. grew its holdings in Grocery Outlet by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 9,273,020 shares of the company’s stock worth $250,001,000 after acquiring an additional 101,056 shares during the last quarter. BlackRock Inc. grew its holdings in Grocery Outlet by 7.7% in the 1st quarter. BlackRock Inc. now owns 8,852,693 shares of the company’s stock worth $290,192,000 after acquiring an additional 631,964 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Grocery Outlet by 12.8% in the 4th quarter. Alliancebernstein L.P. now owns 5,445,064 shares of the company’s stock worth $158,941,000 after acquiring an additional 616,589 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in Grocery Outlet by 4.6% in the 4th quarter. Mackenzie Financial Corp now owns 4,926,336 shares of the company’s stock worth $132,814,000 after acquiring an additional 216,257 shares during the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

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.