Grocery Outlet (NASDAQ:GO) Given New $22.00 Price Target at Roth Mkm

Grocery Outlet (NASDAQ:GO - Free Report) had its price objective lowered by Roth Mkm from $27.00 to $22.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other analysts also recently issued reports about the company. UBS Group dropped their price objective on Grocery Outlet from $30.00 to $27.00 and set a neutral rating for the company in a report on Wednesday. Craig Hallum upgraded Grocery Outlet from a hold rating to a buy rating and set a $36.00 price target for the company in a research note on Wednesday, February 28th. The Goldman Sachs Group reduced their price objective on Grocery Outlet from $24.00 to $21.00 and set a sell rating on the stock in a research note on Thursday. Finally, Telsey Advisory Group dropped their target price on shares of Grocery Outlet from $37.00 to $31.00 and set an outperform rating for the company in a research report on Wednesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $29.33.

Grocery Outlet Price Performance

Shares of NASDAQ:GO traded up $0.04 on Thursday, reaching $20.92. 3,051,572 shares of the company were exchanged, compared to its average volume of 1,362,395. The company has a current ratio of 1.35, a quick ratio of 0.43 and a debt-to-equity ratio of 0.24. Grocery Outlet has a 1-year low of $19.73 and a 1-year high of $36.54. The company has a 50-day moving average of $26.83 and a 200-day moving average of $27.03. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 2.47 and a beta of 0.13.

Grocery Outlet (NASDAQ:GO - Get Free Report) last posted its 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 company had revenue of $989.82 million for the quarter, compared to the consensus estimate of $982.44 million. Grocery Outlet had a return on equity of 7.17% and a net margin of 2.00%. Equities analysts forecast that Grocery Outlet will post 0.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Grocery Outlet news, Director Thomas F. Herman sold 2,000 shares of Grocery Outlet stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $29.00, for a total value of $58,000.00. Following the completion of the transaction, the director now directly owns 11,400 shares in the company, valued at $330,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Eric J. Jr. Lindberg sold 300,000 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $26.16, for a total transaction of $7,848,000.00. Following the transaction, the director now owns 107,123 shares in the company, valued at $2,802,337.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas F. Herman sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $29.00, for a total value of $58,000.00. Following the completion of the sale, the director now owns 11,400 shares of the company's stock, valued at $330,600. The disclosure for this sale can be found here. Over the last three months, insiders have sold 506,588 shares of company stock valued at $13,367,577. Company insiders own 4.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GO. 12 West Capital Management LP lifted its stake in Grocery Outlet by 383.3% during 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 buying an additional 2,875,000 shares in the last quarter. Van Berkom & Associates Inc. lifted its position in shares of Grocery Outlet by 62.4% in the 3rd quarter. Van Berkom & Associates Inc. now owns 2,394,826 shares of the company's stock valued at $69,091,000 after acquiring an additional 920,032 shares in the last quarter. Norges Bank acquired a new position in Grocery Outlet in the 4th quarter worth approximately $24,588,000. Verition Fund Management LLC purchased a new position in Grocery Outlet during the 4th quarter worth approximately $16,049,000. Finally, Geneva Capital Management LLC raised its stake in Grocery Outlet by 48.1% during the 4th quarter. Geneva Capital Management LLC now owns 1,373,378 shares of the company's stock valued at $37,026,000 after purchasing an additional 446,198 shares during the period. Institutional investors and hedge funds 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.