Grocery Outlet (NASDAQ:GO) Price Target Cut to $27.00

Grocery Outlet (NASDAQ:GO) had its price objective dropped by research analysts at UBS Group from $30.00 to $27.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential upside of 25.99% from the stock’s current price.

Other analysts have also issued research reports about the company. Craig Hallum raised Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Wednesday, February 28th. Telsey Advisory Group decreased their price target on shares of Grocery Outlet from $37.00 to $31.00 and set an “outperform” rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $30.44.

Grocery Outlet Stock Down 17.3 %

Shares of NASDAQ GO traded down $4.47 during mid-day trading on Wednesday, reaching $21.43. 1,352,204 shares of the company’s stock traded hands, compared to its average volume of 1,239,295. The business has a 50-day simple moving average of $26.95 and a 200 day simple moving average of $27.09. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 0.43. Grocery Outlet has a 1-year low of $20.48 and a 1-year high of $36.54. The stock has a market cap of $2.14 billion, a P/E ratio of 27.13, a PEG ratio of 2.47 and a beta of 0.13.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings results 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 company had revenue of $989.82 million for the quarter, compared to analyst estimates of $982.44 million. Grocery Outlet had a return on equity of 7.17% and a net margin of 2.00%. On average, analysts expect that Grocery Outlet will post 0.95 EPS for the current fiscal year.

Insider Buying and Selling at Grocery Outlet

In related news, CEO Robert Joseph Jr. Sheedy sold 10,456 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $26.33, for a total transaction of $275,306.48. Following the transaction, the chief executive officer now directly owns 198,992 shares of the company’s stock, valued at $5,239,459.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Robert Joseph Jr. Sheedy sold 10,456 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $26.33, for a total transaction of $275,306.48. Following the sale, the chief executive officer now directly owns 198,992 shares in the company, valued at approximately $5,239,459.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrea Renee Bortner sold 5,522 shares of Grocery Outlet stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $25.83, for a total transaction of $142,633.26. Following the sale, the insider now owns 43,786 shares of the company’s stock, valued at $1,130,992.38. The disclosure for this sale can be found here. Insiders sold a total of 506,588 shares of company stock worth $13,367,577 over the last three months. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

Several institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Grocery Outlet in the 1st quarter valued at about $25,000. Acadian Asset Management LLC purchased a new stake in Grocery Outlet in the 3rd quarter worth approximately $113,000. Daiwa Securities Group Inc. acquired a new stake in Grocery Outlet in the first quarter valued at approximately $127,000. Headlands Technologies LLC boosted its holdings in Grocery Outlet by 32,200.0% in the 4th quarter. Headlands Technologies LLC now owns 4,845 shares of the company’s stock worth $131,000 after buying an additional 4,830 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in Grocery Outlet during the fourth quarter worth about $193,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

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.