Grocery Outlet Holding Corp. (NASDAQ:GO) Director Buys $2,021,250.00 in Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Erik D. Ragatz bought 165,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $12.25 per share, for a total transaction of $2,021,250.00. Following the completion of the purchase, the director now directly owns 201,500 shares in the company, valued at approximately $2,468,375. This represents a 452.05 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Grocery Outlet Stock Up 1.3 %

NASDAQ:GO opened at $11.47 on Thursday. Grocery Outlet Holding Corp. has a 52 week low of $10.26 and a 52 week high of $29.13. 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’s fifty day moving average is $15.69 and its two-hundred day moving average is $16.87. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 22.49, a price-to-earnings-growth ratio of 9.08 and a beta of 0.36.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GO shares. The Goldman Sachs Group reduced their price objective on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating on the stock in a research report on Thursday, February 27th. Morgan Stanley reduced their price target on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, February 26th. UBS Group dropped their price objective on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a research note on Wednesday, February 26th. Finally, Roth Mkm dropped their price target on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.25.

Hedge Funds Weigh In On Grocery Outlet

Several hedge funds have recently bought and sold shares of GO. Simcoe Capital Management LLC purchased a new stake in Grocery Outlet during the fourth quarter worth about $53,185,000. Junto Capital Management LP acquired a new position in shares of Grocery Outlet in the fourth quarter valued at approximately $39,128,000. Freestone Grove Partners LP purchased a new stake in Grocery Outlet during the 4th quarter worth approximately $13,602,000. FPR Partners LLC lifted its holdings in Grocery Outlet by 15.2% during the 4th quarter. FPR Partners LLC now owns 5,991,474 shares of the company’s stock worth $93,527,000 after buying an additional 791,474 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in Grocery Outlet by 159.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,235,078 shares of the company’s stock valued at $21,676,000 after buying an additional 759,697 shares during the period. Institutional investors and hedge funds own 99.87% of the company’s stock.

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.