Grocery Outlet (NASDAQ:GO) Shares Up 3.9% - What's Next?

Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) was up 3.9% on Friday . The company traded as high as $13.68 and last traded at $13.70. Approximately 1,102,157 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 2,524,255 shares. The stock had previously closed at $13.19.

Analysts Set New Price Targets

A number of research analysts recently commented on GO shares. UBS Group upped their price objective on Grocery Outlet from $14.50 to $17.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft downgraded shares of Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 price objective for the company. in a report on Wednesday, February 26th. Wells Fargo & Company upped their price objective on shares of Grocery Outlet from $18.00 to $19.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $16.00 price objective on shares of Grocery Outlet in a report on Wednesday, April 30th. Finally, Jefferies Financial Group raised shares of Grocery Outlet from a "hold" rating to a "buy" rating and upped their price objective for the stock from $13.00 to $18.00 in a report on Wednesday, April 16th. Two equities research 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.com, the stock currently has a consensus rating of "Hold" and an average price target of $15.62.

Grocery Outlet Trading Up 5.3%

The company has a fifty day simple moving average of $14.48 and a 200-day simple moving average of $15.29. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 27.16, a P/E/G ratio of 9.08 and a beta of 0.32.

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

Insider Activity

In other news, Director Erik D. Ragatz acquired 19,000 shares of the company's stock in a transaction that occurred on 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 owns 19,000 shares of the company's stock, valued at approximately $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. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Grocery Outlet

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Grocery Outlet by 5.8% in the first quarter. Vanguard Group Inc. now owns 10,717,454 shares of the company's stock worth $149,830,000 after buying an additional 582,822 shares during the last quarter. FPR Partners LLC increased its holdings in Grocery Outlet by 15.2% in the fourth quarter. FPR Partners LLC now owns 5,991,474 shares of the company's stock worth $93,527,000 after buying an additional 791,474 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Grocery Outlet by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,833,955 shares of the company's stock worth $59,845,000 after buying an additional 35,938 shares during the last quarter. Simcoe Capital Management LLC bought a new stake in Grocery Outlet during the fourth quarter worth approximately $53,185,000. Finally, T. Rowe Price Investment Management Inc. boosted its position in Grocery Outlet by 1,577.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,262,956 shares of the company's stock worth $45,617,000 after purchasing an additional 3,068,405 shares during the period. Institutional investors and hedge funds own 99.87% of the company's stock.

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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