Brokerages Set Grocery Outlet Holding Corp. (NASDAQ:GO) PT at $15.62

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) have earned an average rating of "Hold" from the fourteen brokerages that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $15.62.

GO has been the subject of a number of research reports. Jefferies Financial Group raised shares of Grocery Outlet from a "hold" rating to a "buy" rating and increased their price target for the stock from $13.00 to $18.00 in a research note on Wednesday, April 16th. The Goldman Sachs Group decreased their price target on shares of Grocery Outlet from $14.00 to $11.00 and set a "sell" rating for the company in a research note on Thursday, February 27th. UBS Group increased their price target on shares of Grocery Outlet from $14.50 to $17.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Wells Fargo & Company raised their target price on shares of Grocery Outlet from $18.00 to $19.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley decreased their target price on shares of Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating for the company in a research note on Wednesday, February 26th.

Insider Activity

In other news, Director Erik D. Ragatz purchased 19,000 shares of the business's stock in a transaction dated Friday, May 9th. The shares were purchased at an average price of $14.46 per share, for a total transaction of $274,740.00. Following the completion of the acquisition, the director now directly owns 19,000 shares in the company, valued at $274,740. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Steven K. Wilson sold 6,477 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $11.34, for a total transaction of $73,449.18. Following the completion of the sale, the executive vice president now owns 173,605 shares in the company, valued at $1,968,680.70. This represents a 3.60% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 219,000 shares of company stock worth $2,709,790 and have sold 17,756 shares worth $216,892. Corporate insiders own 4.50% of the company's stock.

Institutional Investors Weigh In On Grocery Outlet

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Decker Retirement Planning Inc. purchased a new stake in Grocery Outlet in the fourth quarter worth approximately $31,000. Aster Capital Management DIFC Ltd purchased a new stake in Grocery Outlet in the fourth quarter worth approximately $41,000. US Bancorp DE boosted its holdings in Grocery Outlet by 64.2% in the first quarter. US Bancorp DE now owns 3,024 shares of the company's stock worth $42,000 after purchasing an additional 1,182 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Grocery Outlet by 276.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company's stock worth $43,000 after purchasing an additional 2,036 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Grocery Outlet by 62.7% in the fourth quarter. KBC Group NV now owns 4,506 shares of the company's stock worth $70,000 after purchasing an additional 1,736 shares during the last quarter. Hedge funds and other institutional investors own 99.87% of the company's stock.

Grocery Outlet Trading Up 1.8%

Shares of NASDAQ:GO traded up $0.25 during midday trading on Tuesday, hitting $14.22. 3,161,108 shares of the stock traded hands, compared to its average volume of 2,406,177. The stock has a market capitalization of $1.39 billion, a PE ratio of 27.88, a P/E/G ratio of 9.08 and a beta of 0.42. The business's 50 day moving average is $14.25 and its two-hundred day moving average is $15.80. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. Grocery Outlet has a one year low of $10.26 and a one year high of $23.25.

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

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.