Grocery Outlet (NASDAQ:GO) PT Lowered to $27.00 at Telsey Advisory Group

Grocery Outlet (NASDAQ:GO) had its target price lowered by Telsey Advisory Group from $31.00 to $27.00 in a report published on Wednesday, MarketBeat reports. Telsey Advisory Group currently has an outperform rating on the stock.

A number of other brokerages have also commented on GO. TD Cowen reduced their target price on shares of Grocery Outlet from $43.00 to $25.00 and set a buy rating on the stock in a research report on Friday, May 10th. Roth Mkm lowered their price objective on shares of Grocery Outlet from $27.00 to $22.00 and set a neutral rating for the company in a research note on Thursday, May 9th. The Goldman Sachs Group cut their target price on shares of Grocery Outlet from $24.00 to $21.00 and set a sell rating on the stock in a research report on Thursday, May 9th. Wells Fargo & Company started coverage on shares of Grocery Outlet in a research report on Thursday, July 18th. They issued an overweight rating and a $28.00 price target for the company. Finally, Craig Hallum downgraded shares of Grocery Outlet from a buy rating to a hold rating and reduced their price objective for the stock from $32.00 to $20.00 in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $22.75.

Grocery Outlet Trading Down 0.7 %

Shares of Grocery Outlet stock traded down $0.13 on Wednesday, reaching $19.60. The company had a trading volume of 2,039,151 shares, compared to its average volume of 1,749,049. The firm’s 50-day moving average price is $20.83 and its two-hundred day moving average price is $23.89. Grocery Outlet has a 1 year low of $18.16 and a 1 year high of $35.25. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 30.63, a P/E/G ratio of 3.55 and a beta of 0.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.25 and a quick ratio of 0.30.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. Grocery Outlet had a net margin of 1.60% and a return on equity of 5.46%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the company earned $0.23 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, research analysts predict that Grocery Outlet will post 0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Grocery Outlet news, EVP Luke D. Thompson sold 1,332 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $22.43, for a total value of $29,876.76. Following the sale, the executive vice president now directly owns 32,306 shares of the company’s stock, valued at $724,623.58. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Luke D. Thompson sold 1,332 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $22.43, for a total transaction of $29,876.76. Following the sale, the executive vice president now owns 32,306 shares of the company’s stock, valued at approximately $724,623.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John E. Bachman bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average price of $20.09 per share, with a total value of $200,900.00. Following the completion of the purchase, the director now owns 25,872 shares in the company, valued at $519,768.48. The disclosure for this purchase can be found here. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of Grocery Outlet

Several institutional investors have recently modified their holdings of GO. Capital Research Global Investors boosted its position in Grocery Outlet by 2.2% during the fourth quarter. Capital Research Global Investors now owns 9,342,414 shares of the company’s stock worth $251,871,000 after acquiring an additional 199,926 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Grocery Outlet by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 9,333,850 shares of the company’s stock worth $268,628,000 after purchasing an additional 60,830 shares during the last quarter. Mackenzie Financial Corp grew its position 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 valued at $132,814,000 after purchasing an additional 216,257 shares in the last quarter. 12 West Capital Management LP grew 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 purchasing an additional 2,875,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Grocery Outlet by 22.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,613,617 shares of the company’s stock valued at $79,933,000 after purchasing an additional 655,065 shares during the last quarter. 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.