Brokerages Set Grocery Outlet Holding Corp. (NASDAQ:GO) Target Price at $31.44

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) have earned a consensus recommendation of "Hold" from the nine brokerages that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $31.44.

Several research analysts have recently issued reports on GO shares. Telsey Advisory Group reduced their target price on shares of Grocery Outlet from $40.00 to $37.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 28th. The Goldman Sachs Group lowered shares of Grocery Outlet from a "buy" rating to a "sell" rating and reduced their target price for the company from $33.00 to $24.00 in a research note on Tuesday, December 12th. Craig Hallum raised shares of Grocery Outlet from a "hold" rating to a "buy" rating and set a $36.00 target price on the stock in a research note on Wednesday, February 28th. Finally, UBS Group reduced their target price on shares of Grocery Outlet from $32.00 to $30.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 28th.

Insiders Place Their Bets

In other Grocery Outlet news, Director Thomas F. Herman sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $29.00, for a total transaction of $58,000.00. Following the sale, the director now directly owns 11,400 shares in the company, valued at approximately $330,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Grocery Outlet news, Director Thomas F. Herman sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $29.00, for a total transaction of $58,000.00. Following the sale, the director now directly owns 11,400 shares in the company, valued at approximately $330,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrea Renee Bortner sold 5,522 shares of the firm's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $25.83, for a total transaction of $142,633.26. Following the sale, the insider now owns 43,786 shares in the company, valued at $1,130,992.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 506,588 shares of company stock worth $13,367,577. Company insiders own 6.20% of the company's stock.

Hedge Funds Weigh In On Grocery Outlet

Several hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors grew its stake in shares of Grocery Outlet by 58.1% in the second quarter. Captrust Financial Advisors now owns 762 shares of the company's stock valued at $32,000 after buying an additional 280 shares in the last quarter. KBC Group NV bought a new position in shares of Grocery Outlet in the fourth quarter valued at $32,000. CWM LLC grew its stake in shares of Grocery Outlet by 248.0% in the third quarter. CWM LLC now owns 1,399 shares of the company's stock valued at $40,000 after buying an additional 997 shares in the last quarter. Dark Forest Capital Management LP bought a new position in shares of Grocery Outlet in the first quarter valued at $55,000. Finally, State of Wyoming grew its stake in shares of Grocery Outlet by 78.7% in the fourth quarter. State of Wyoming now owns 2,012 shares of the company's stock valued at $59,000 after buying an additional 886 shares in the last quarter. 99.87% of the stock is owned by institutional investors.

Grocery Outlet Price Performance

NASDAQ:GO traded up $0.19 during mid-day trading on Monday, reaching $27.01. 1,053,292 shares of the company were exchanged, compared to its average volume of 1,256,563. Grocery Outlet has a 12 month low of $23.41 and a 12 month high of $36.54. The company has a fifty day moving average of $26.47 and a 200 day moving average of $27.30. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 0.24. The stock has a market cap of $2.68 billion, a PE ratio of 34.29, a PEG ratio of 2.58 and a beta of 0.10.

Grocery Outlet (NASDAQ:GO - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. Grocery Outlet had a net margin of 2.00% and a return on equity of 7.17%. The firm had revenue of $989.82 million for the quarter, compared to analyst estimates of $982.44 million. On average, research analysts anticipate that Grocery Outlet will post 0.95 EPS 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.