Grocery Outlet (NASDAQ:GO) Stock Price Down 3.8% - Should You Sell?

Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report)'s share price dropped 3.8% during mid-day trading on Monday . The company traded as low as $13.13 and last traded at $13.11. Approximately 933,875 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 2,537,303 shares. The stock had previously closed at $13.63.

Wall Street Analysts Forecast Growth

GO has been the topic of several research reports. Deutsche Bank Aktiengesellschaft downgraded Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 target price on the stock. in a research report on Wednesday, February 26th. Wells Fargo & Company increased their price objective on Grocery Outlet from $18.00 to $19.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Jefferies Financial Group upgraded shares of Grocery Outlet from a "hold" rating to a "buy" rating and increased their target price for the company from $13.00 to $18.00 in a research report on Wednesday, April 16th. Telsey Advisory Group reiterated a "market perform" rating and issued a $16.00 price objective on shares of Grocery Outlet in a report on Wednesday, April 30th. Finally, Morgan Stanley cut their price target on Grocery Outlet from $13.00 to $10.00 and set an "underperform" rating for the company in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Grocery Outlet currently has an average rating of "Hold" and an average target price of $15.62.

Grocery Outlet Price Performance

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The company has a 50-day moving average price of $14.48 and a two-hundred day moving average price of $15.15. The company has a market cap of $1.27 billion, a PE ratio of 25.39, a P/E/G ratio of 9.08 and a beta of 0.32.

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, beating analysts' consensus estimates of $0.07 by $0.06. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates 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 firm posted $0.09 EPS. Sell-side analysts expect that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Erik D. Ragatz acquired 19,000 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was purchased at an average price of $14.46 per share, for a total transaction of $274,740.00. Following the transaction, the director now directly owns 19,000 shares of the company's stock, valued at approximately $274,740. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.50% of the company's stock.

Institutional Trading of Grocery Outlet

Institutional investors and hedge funds have recently made changes to their positions in the business. Simcoe Capital Management LLC bought a new position in Grocery Outlet during the fourth quarter worth about $53,185,000. Wellington Management Group LLP bought a new position in shares of Grocery Outlet during the 1st quarter valued at about $43,509,000. T. Rowe Price Investment Management Inc. grew its position in shares of Grocery Outlet by 1,577.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,262,956 shares of the company's stock valued at $45,617,000 after purchasing an additional 3,068,405 shares during the period. Junto Capital Management LP bought a new stake in Grocery Outlet during the 4th quarter worth approximately $39,128,000. Finally, Solas Capital Management LLC bought a new position in shares of Grocery Outlet during the 1st quarter worth approximately $13,736,000. Institutional investors own 99.87% of the company's stock.

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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