Erik D. Ragatz Buys 19,000 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) Stock

Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) Director Erik D. Ragatz acquired 19,000 shares of Grocery Outlet stock in a transaction that occurred on Friday, May 9th. The shares were purchased at an average cost of $14.46 per share, for a total transaction of $274,740.00. Following the purchase, the director now directly owns 19,000 shares in the company, valued at $274,740. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Grocery Outlet Stock Performance

Shares of GO stock traded down $0.22 during midday trading on Monday, hitting $14.18. 5,528,317 shares of the company were exchanged, compared to its average volume of 2,403,689. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. The firm has a market capitalization of $1.39 billion, a P/E ratio of 27.80, a PEG ratio of 9.08 and a beta of 0.42. The firm's 50 day moving average price is $14.11 and its two-hundred day moving average price is $15.86. Grocery Outlet Holding Corp. has a 52 week low of $10.26 and a 52 week high of $23.25.

Grocery Outlet (NASDAQ:GO - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.06. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the prior year, the company earned $0.09 EPS. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

Analyst Ratings Changes

GO has been the topic of several recent analyst reports. Jefferies Financial Group raised shares of Grocery Outlet from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $13.00 to $18.00 in a research note on Wednesday, April 16th. Morgan Stanley dropped their target price on shares of Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating on the stock in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 target price on the stock. in a report on Wednesday, February 26th. Telsey Advisory Group restated a "market perform" rating and set a $16.00 target price on shares of Grocery Outlet in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group dropped their target price on shares of Grocery Outlet from $14.00 to $11.00 and set a "sell" rating on the stock in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Grocery Outlet has an average rating of "Hold" and an average target price of $15.62.

Hedge Funds Weigh In On Grocery Outlet

A number of institutional investors and hedge funds have recently modified their holdings of the business. Simcoe Capital Management LLC purchased a new position in shares of Grocery Outlet in the 4th quarter worth approximately $53,185,000. Junto Capital Management LP purchased a new stake in shares of Grocery Outlet in the 4th quarter valued at $39,128,000. Freestone Grove Partners LP purchased a new stake in Grocery Outlet during the 4th quarter valued at $13,602,000. FPR Partners LLC raised its holdings in Grocery Outlet by 15.2% in the 4th quarter. FPR Partners LLC now owns 5,991,474 shares of the company's stock worth $93,527,000 after purchasing an additional 791,474 shares in the last quarter. Finally, Senvest Management LLC increased its stake in shares of Grocery Outlet by 88.3% in the 4th quarter. Senvest Management LLC now owns 1,569,656 shares of the company's stock worth $24,502,000 after acquiring an additional 735,931 shares in the last quarter. 99.87% of the stock is currently owned by institutional investors.

Grocery Outlet Company Profile

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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