Grocery Outlet Holding Corp. (NASDAQ:GO) EVP Sells $384,000.00 in Stock

Key Points

• Steven K. Wilson, Executive Vice President of Grocery Outlet, sold 20,000 shares of the company's stock for a total of $384,000, reducing his position by 11.98%.
• The company's stock is currently trading at $18.22, down 1.7%, with a 12-month low of $10.26 and a high of $21.67.
• Grocery Outlet's recent earnings report showed an EPS of $0.23, exceeding analysts' expectations, although revenue of $1.18 billion fell short of estimates.

Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) EVP Steven K. Wilson sold 20,000 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $19.20, for a total value of $384,000.00. Following the completion of the transaction, the executive vice president owned 146,923 shares of the company's stock, valued at $2,820,921.60. The trade was a 11.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Grocery Outlet Trading Down 1.7%

NASDAQ GO traded down $0.32 on Monday, reaching $18.22. The stock had a trading volume of 4,615,173 shares, compared to its average volume of 3,296,028. Grocery Outlet Holding Corp. has a 12-month low of $10.26 and a 12-month high of $21.67. The stock has a fifty day moving average price of $13.67 and a two-hundred day moving average price of $14.22. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 260.32, a P/E/G ratio of 4.13 and a beta of 0.27. The company has a quick ratio of 0.25, a current ratio of 1.21 and a debt-to-equity ratio of 0.38.

Grocery Outlet (NASDAQ:GO - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Grocery Outlet had a net margin of 0.18% and a return on equity of 6.34%. Grocery Outlet's revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.25 earnings per share. As a group, sell-side analysts forecast that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Institutional Trading of Grocery Outlet

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its position in shares of Grocery Outlet by 213.5% during the second quarter. Parallel Advisors LLC now owns 2,025 shares of the company's stock worth $25,000 after buying an additional 1,379 shares during the period. PNC Financial Services Group Inc. increased its position in Grocery Outlet by 32.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,942 shares of the company's stock valued at $37,000 after acquiring an additional 719 shares during the period. US Bancorp DE increased its position in Grocery Outlet by 64.2% in the 1st quarter. US Bancorp DE now owns 3,024 shares of the company's stock valued at $42,000 after acquiring an additional 1,182 shares during the period. AlphaQuest LLC increased its position in Grocery Outlet by 327.7% in the 2nd quarter. AlphaQuest LLC now owns 5,761 shares of the company's stock valued at $72,000 after acquiring an additional 4,414 shares during the period. Finally, GAMMA Investing LLC increased its position in Grocery Outlet by 236.0% in the 1st quarter. GAMMA Investing LLC now owns 5,188 shares of the company's stock valued at $73,000 after acquiring an additional 3,644 shares during the period. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GO. Wells Fargo & Company raised their target price on Grocery Outlet from $18.00 to $19.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Morgan Stanley upgraded Grocery Outlet from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $13.00 to $16.00 in a research report on Wednesday, August 6th. UBS Group boosted their target price on Grocery Outlet from $14.50 to $17.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Craig Hallum upgraded Grocery Outlet from a "hold" rating to a "buy" rating and set a $17.00 target price for the company in a research report on Wednesday, August 6th. Finally, Telsey Advisory Group restated a "market perform" rating and issued a $16.00 price target on shares of Grocery Outlet in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $16.08.

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.

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