Grocery Outlet (NASDAQ:GO) Shares Down 3.4% - What's Next?

Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report)'s stock price traded down 3.4% on Thursday . The stock traded as low as $13.57 and last traded at $13.29. 54,352 shares were traded during trading, a decline of 98% from the average session volume of 2,434,307 shares. The stock had previously closed at $13.75.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GO. Bank of America dropped their price target on Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. 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 research note on Wednesday, February 26th. Telsey Advisory Group restated a "market perform" rating and issued a $16.00 price objective on shares of Grocery Outlet in a research report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft cut Grocery Outlet from a "buy" rating to a "hold" rating and set a $12.00 target price for the company. in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company upped their target price on shares of Grocery Outlet from $18.00 to $19.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $15.62.

Grocery Outlet Trading Down 1.7%

The stock has a 50-day simple moving average of $14.47 and a 200 day simple moving average of $15.61. 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 company has a market cap of $1.32 billion, a price-to-earnings ratio of 26.49, a PEG ratio of 9.08 and a beta of 0.42.

Grocery Outlet (NASDAQ:GO - Get Free Report) last announced its quarterly earnings results 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 the consensus estimate of $1.12 billion. During the same quarter last year, the firm earned $0.09 EPS. The business's revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts predict that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, SVP Lindsay E. Gray sold 2,741 shares of the company'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 value of $31,082.94. Following the transaction, the senior vice president now directly owns 41,448 shares of the company's stock, valued at $470,020.32. This represents a 6.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kenneth W. Alterman acquired 25,000 shares of Grocery Outlet stock in a transaction on Monday, March 3rd. The shares were bought at an average price of $11.88 per share, for a total transaction of $297,000.00. Following the completion of the purchase, the director now directly owns 64,592 shares in the company, valued at $767,352.96. The trade was a 63.14% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 19,124 shares of company stock valued at $235,730. 4.50% of the stock is owned by company insiders.

Institutional Trading of Grocery Outlet

Several institutional investors have recently added to or reduced their stakes in GO. Aster Capital Management DIFC Ltd bought a new position in Grocery Outlet in the fourth quarter worth about $41,000. Quadrant Capital Group LLC lifted 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 period. US Bancorp DE lifted its stake in shares of Grocery Outlet by 64.2% in the 1st quarter. US Bancorp DE now owns 3,024 shares of the company's stock worth $42,000 after acquiring an additional 1,182 shares during the period. KBC Group NV increased its position in shares of Grocery Outlet by 62.7% during the 4th quarter. KBC Group NV now owns 4,506 shares of the company's stock valued at $70,000 after purchasing an additional 1,736 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Grocery Outlet by 472.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,896 shares of the company's stock valued at $76,000 after purchasing an additional 4,040 shares in the last quarter. Institutional investors 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.