Grocery Outlet (NASDAQ:GO) Hits New 52-Week Low on Analyst Downgrade

Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday after UBS Group lowered their price target on the stock from $30.00 to $27.00. UBS Group currently has a neutral rating on the stock. Grocery Outlet traded as low as $22.04 and last traded at $22.04, with a volume of 6183 shares. The stock had previously closed at $25.90.

GO has been the topic of several other reports. Craig Hallum raised Grocery Outlet from a "hold" rating to a "buy" rating and set a $36.00 price objective on the stock in a research report on Wednesday, February 28th. Telsey Advisory Group cut their price objective on Grocery Outlet from $37.00 to $31.00 and set an "outperform" rating on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Grocery Outlet presently has a consensus rating of "Hold" and a consensus price target of $30.44.

Insider Transactions at Grocery Outlet

In other news, insider Andrea Renee Bortner sold 4,112 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $26.33, for a total value of $108,268.96. Following the sale, the insider now directly owns 49,308 shares of the company's stock, valued at approximately $1,298,279.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Thomas F. Herman sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $29.00, for a total value of $29,000.00. Following the completion of the transaction, the director now directly owns 10,400 shares in the company, valued at approximately $301,600. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrea Renee Bortner sold 4,112 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $26.33, for a total transaction of $108,268.96. Following the completion of the transaction, the insider now owns 49,308 shares of the company's stock, valued at $1,298,279.64. The disclosure for this sale can be found here. Insiders have sold a total of 506,588 shares of company stock valued at $13,367,577 in the last ninety days. 4.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Grocery Outlet

Hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new position in Grocery Outlet in the 1st quarter worth $25,000. Acadian Asset Management LLC bought a new position in Grocery Outlet in the 3rd quarter worth $113,000. Daiwa Securities Group Inc. bought a new position in Grocery Outlet in the 1st quarter worth $127,000. Headlands Technologies LLC boosted its holdings in Grocery Outlet by 32,200.0% in the 4th quarter. Headlands Technologies LLC now owns 4,845 shares of the company's stock worth $131,000 after buying an additional 4,830 shares during the period. Finally, Quest Partners LLC bought a new position in Grocery Outlet in the 4th quarter worth $193,000. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

Grocery Outlet Price Performance

The company has a market cap of $2.09 billion, a P/E ratio of 26.59, a P/E/G ratio of 2.47 and a beta of 0.13. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.43 and a current ratio of 1.35. The firm's fifty day moving average is $26.94 and its two-hundred day moving average is $27.07.

Grocery Outlet (NASDAQ:GO - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. Grocery Outlet had a net margin of 2.00% and a return on equity of 7.17%. The business had revenue of $989.82 million during the quarter, compared to the consensus estimate of $982.44 million. As a group, analysts anticipate that Grocery Outlet Holding Corp. will post 0.95 earnings per share for the current fiscal 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.