Grocery Outlet (NASDAQ:GO) Shares Down 3.6% – Should You Sell?

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) dropped 3.6% on Friday . The company traded as low as $15.65 and last traded at $15.71. Approximately 180,188 shares changed hands during trading, a decline of 78% from the average daily volume of 807,336 shares. The stock had previously closed at $16.30.

Analyst Ratings Changes

GO has been the topic of several recent analyst reports. Craig Hallum dropped their price objective on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft dropped their target price on Grocery Outlet from $29.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Bank of America lowered Grocery Outlet from a “buy” rating to a “neutral” rating and lowered their price target for the company from $29.00 to $17.00 in a research report on Wednesday, October 30th. Loop Capital began coverage on Grocery Outlet in a report on Thursday, October 17th. They issued a “hold” rating and a $17.00 target price on the stock. Finally, Melius Research started coverage on Grocery Outlet in a research report on Monday, September 23rd. They issued a “hold” rating and a $17.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.00.

Grocery Outlet Trading Down 3.2 %

The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The stock has a market cap of $1.53 billion, a P/E ratio of 30.94, a PEG ratio of 4.81 and a beta of 0.25. The business’s 50 day simple moving average is $17.68 and its two-hundred day simple moving average is $18.40.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the firm earned $0.25 earnings per share. Grocery Outlet’s revenue was up 10.4% on a year-over-year basis. As a group, analysts expect that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz purchased 110,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price of $18.25 per share, for a total transaction of $2,007,500.00. Following the purchase, the director now directly owns 539,785 shares in the company, valued at approximately $9,851,076.25. This trade represents a 25.59 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its stake in Grocery Outlet by 22.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,613,617 shares of the company’s stock worth $79,933,000 after buying an additional 655,065 shares during the last quarter. Van Berkom & Associates Inc. boosted its position in shares of Grocery Outlet by 21.1% in the 2nd quarter. Van Berkom & Associates Inc. now owns 3,498,533 shares of the company’s stock worth $77,388,000 after buying an additional 609,871 shares in the last quarter. State Street Corp grew its holdings in Grocery Outlet by 0.6% during the 3rd quarter. State Street Corp now owns 3,407,152 shares of the company’s stock valued at $59,796,000 after buying an additional 21,237 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Grocery Outlet by 677.6% during the 2nd quarter. Millennium Management LLC now owns 1,981,558 shares of the company’s stock worth $43,832,000 after purchasing an additional 1,726,741 shares during the period. Finally, Solel Partners LP acquired a new position in Grocery Outlet during the second quarter worth approximately $35,980,000. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

About Grocery Outlet

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.