Grocery Outlet Sees Unusually Large Options Volume (NASDAQ:GO)

Grocery Outlet Holding Corp. (NASDAQ:GO) saw some unusual options trading activity on Tuesday. Traders purchased 10,055 put options on the company. This represents an increase of 2,317% compared to the typical daily volume of 416 put options.

Grocery Outlet Price Performance

Shares of Grocery Outlet stock traded down $2.75 during midday trading on Wednesday, hitting $13.86. 4,687,690 shares of the company traded hands, compared to its average volume of 1,770,616. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 3.21 and a beta of 0.10. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.29 and a current ratio of 1.29. The firm’s fifty day moving average price is $17.02 and its 200-day moving average price is $20.18. Grocery Outlet has a 12 month low of $13.60 and a 12 month high of $29.98.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.05. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the business posted $0.23 EPS. Grocery Outlet’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, sell-side analysts forecast that Grocery Outlet will post 0.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GO shares. Melius Research initiated coverage on shares of Grocery Outlet in a report on Monday, September 23rd. They issued a “hold” rating and a $17.00 price objective on the stock. Roth Mkm decreased their price target on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Loop Capital began coverage on shares of Grocery Outlet in a research report on Thursday, October 17th. They set a “hold” rating and a $17.00 price objective for the company. UBS Group decreased their target price on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, Roth Capital upgraded Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $20.27.

Insider Activity

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the sale, the director now directly owns 70,938 shares of the company’s stock, valued at $1,155,580.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the transaction, the director now owns 70,938 shares of the company’s stock, valued at $1,155,580.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $18.90, for a total value of $1,890,000.00. Following the completion of the sale, the director now directly owns 70,938 shares of the company’s stock, valued at approximately $1,340,728.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 500,095 shares of company stock worth $8,876,548 over the last ninety days. Insiders own 4.50% of the company’s stock.

Institutional Trading of Grocery Outlet

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Grocery Outlet by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 9,273,020 shares of the company’s stock worth $250,001,000 after acquiring an additional 101,056 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Grocery Outlet during the first quarter worth $25,000. State of Michigan Retirement System raised its stake in Grocery Outlet by 2.5% during the first quarter. State of Michigan Retirement System now owns 24,380 shares of the company’s stock worth $702,000 after buying an additional 600 shares during the last quarter. Norden Group LLC acquired a new position in Grocery Outlet in the first quarter valued at $442,000. Finally, Principal Financial Group Inc. boosted its position in Grocery Outlet by 2.5% during the first quarter. Principal Financial Group Inc. now owns 373,424 shares of the company’s stock valued at $10,747,000 after acquiring an additional 9,236 shares during the last quarter. Institutional investors 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.