UBS Group Lowers Grocery Outlet (NASDAQ:GO) Price Target to $27.00

Grocery Outlet (NASDAQ:GO - Get Free Report) had its price objective cut by equities researchers at UBS Group from $30.00 to $27.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's price objective would suggest a potential upside of 29.31% from the stock's previous close.

Other research analysts have also issued research reports about the company. Telsey Advisory Group cut their price target on Grocery Outlet from $37.00 to $31.00 and set an "outperform" rating on the stock in a report on Wednesday. Craig Hallum raised shares of Grocery Outlet from a "hold" rating to a "buy" rating and set a $36.00 price target for the company in a research report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $30.44.

Grocery Outlet Trading Down 19.4 %

GO traded down $5.02 during trading on Wednesday, hitting $20.88. The company's stock had a trading volume of 10,716,829 shares, compared to its average volume of 1,343,403. The stock's fifty day moving average price is $26.94 and its 200-day moving average price is $27.07. The firm has a market capitalization of $2.09 billion, a P/E ratio of 26.59, a PEG ratio of 2.47 and a beta of 0.13. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 0.24. Grocery Outlet has a twelve month low of $19.73 and a twelve month high of $36.54.

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

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, CEO Robert Joseph Jr. Sheedy sold 10,456 shares of the company's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $26.33, for a total value of $275,306.48. Following the completion of the sale, the chief executive officer now directly owns 198,992 shares of the company's stock, valued at approximately $5,239,459.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Lindsay E. Gray sold 1,827 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $26.33, for a total transaction of $48,104.91. Following the completion of the transaction, the chief financial officer now owns 39,950 shares in the company, valued at $1,051,883.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Robert Joseph Jr. Sheedy sold 10,456 shares of Grocery Outlet 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 $275,306.48. Following the completion of the sale, the chief executive officer now directly owns 198,992 shares in the company, valued at approximately $5,239,459.36. 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. Corporate insiders own 4.50% of the company's stock.

Institutional Investors Weigh In On Grocery Outlet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors raised its stake in shares of Grocery Outlet by 2.2% during the 4th quarter. Capital Research Global Investors now owns 9,342,414 shares of the company's stock valued at $251,871,000 after purchasing an additional 199,926 shares during the period. Vanguard Group Inc. increased its position in shares of Grocery Outlet by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 9,273,020 shares of the company's stock valued at $250,001,000 after buying an additional 101,056 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Grocery Outlet by 4.6% in the fourth quarter. Mackenzie Financial Corp now owns 4,926,336 shares of the company's stock worth $132,814,000 after buying an additional 216,257 shares in the last quarter. 12 West Capital Management LP boosted its position in shares of Grocery Outlet by 383.3% in the first quarter. 12 West Capital Management LP now owns 3,625,000 shares of the company's stock valued at $104,328,000 after acquiring an additional 2,875,000 shares during the period. Finally, Clearbridge Investments LLC increased its holdings in Grocery Outlet by 16.1% during the 4th quarter. Clearbridge Investments LLC now owns 2,940,288 shares of the company's stock worth $79,270,000 after acquiring an additional 406,824 shares during the period. 99.87% of the stock is currently owned by institutional investors.

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.