Roth Mkm Has Lowered Expectations for Grocery Outlet (NASDAQ:GO) Stock Price

Grocery Outlet (NASDAQ:GO) had its target price decreased by investment analysts at Roth Mkm from $20.00 to $16.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Roth Mkm’s price target suggests a potential downside of 6.92% from the company’s current price.

Several other equities research analysts have also recently commented on GO. Telsey Advisory Group dropped their target price on shares of Grocery Outlet from $19.00 to $18.00 and set a “market perform” rating for the company in a research report on Wednesday. Craig Hallum decreased their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday. UBS Group cut their price objective 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. Loop Capital assumed coverage on Grocery Outlet in a research report on Thursday, October 17th. They issued a “hold” rating and a $17.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Grocery Outlet currently has a consensus rating of “Hold” and a consensus price target of $18.17.

Grocery Outlet Stock Up 6.7 %

NASDAQ GO opened at $17.19 on Wednesday. The business’s 50-day moving average is $16.59 and its 200 day moving average is $19.72. The stock has a market capitalization of $1.68 billion, a PE ratio of 33.63, a PEG ratio of 3.42 and a beta of 0.13. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.29. Grocery Outlet has a 1 year low of $13.60 and a 1 year high of $29.98.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the company earned $0.25 EPS. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. Sell-side analysts forecast that Grocery Outlet will post 0.66 earnings per share for the current year.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’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 completion of the sale, the director now directly owns 70,938 shares in the company, valued at approximately $1,155,580.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction 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 sale, the director now directly owns 70,938 shares in the company, valued at approximately $1,155,580.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $18.44, for a total value of $1,844,000.00. Following the completion of the transaction, the director now owns 70,938 shares of the company’s stock, valued at $1,308,096.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 500,095 shares of company stock valued at $8,876,548. Insiders own 4.50% of the company’s stock.

Institutional Trading of Grocery Outlet

Institutional investors have recently made changes to their positions in the stock. 12 West Capital Management LP boosted its stake in shares of Grocery Outlet by 383.3% in the 1st quarter. 12 West Capital Management LP now owns 3,625,000 shares of the company’s stock worth $104,328,000 after buying an additional 2,875,000 shares during the last quarter. Capital World Investors lifted its holdings in Grocery Outlet by 281.4% in the first quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock valued at $103,023,000 after acquiring an additional 2,641,016 shares during the period. Millennium Management LLC boosted its position in Grocery Outlet by 677.6% in the second 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 last quarter. Solel Partners LP bought a new stake in shares of Grocery Outlet during the 2nd quarter valued at about $35,980,000. Finally, American Century Companies Inc. increased its position in shares of Grocery Outlet by 889.9% during the 2nd quarter. American Century Companies Inc. now owns 1,010,785 shares of the company’s stock valued at $22,359,000 after purchasing an additional 908,680 shares during the last quarter. Hedge funds and other 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.