Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) insider Frank Michael Kerr sold 1,432 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $11.30, for a total transaction of $16,181.60. Following the completion of the transaction, the insider owned 54,342 shares of the company's stock, valued at $614,064.60. This trade represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Grocery Outlet Stock Performance
Grocery Outlet stock opened at $12.04 on Tuesday. Grocery Outlet Holding Corp. has a 1-year low of $5.66 and a 1-year high of $19.23. The company has a current ratio of 1.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $1.19 billion, a PE ratio of -3.11, a price-to-earnings-growth ratio of 8.87 and a beta of 0.65. The firm's 50 day simple moving average is $9.95 and its 200 day simple moving average is $8.73.
Grocery Outlet (NASDAQ:GO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.13 by $0.07. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. Grocery Outlet had a negative net margin of 8.04% and a positive return on equity of 5.84%. The business's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the firm earned $0.23 EPS. As a group, analysts expect that Grocery Outlet Holding Corp. will post 0.39 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Grocery Outlet
A number of hedge funds and other institutional investors have recently bought and sold shares of GO. Aster Capital Management DIFC Ltd raised its holdings in Grocery Outlet by 1,030.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,532 shares of the company's stock worth $26,000 after acquiring an additional 2,308 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Grocery Outlet during the 4th quarter valued at $35,000. Allworth Financial LP purchased a new stake in Grocery Outlet during the 2nd quarter valued at $40,000. Quantbot Technologies LP bought a new stake in shares of Grocery Outlet in the 2nd quarter worth $46,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Grocery Outlet in the second quarter worth $58,000. Hedge funds and other institutional investors own 99.87% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the company. DA Davidson lifted their price objective on Grocery Outlet from $9.00 to $12.00 and gave the company a "neutral" rating in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $9.00 target price on shares of Grocery Outlet in a research note on Thursday, August 13th. Morgan Stanley raised their price target on Grocery Outlet from $7.00 to $11.00 and gave the company an "equal weight" rating in a report on Thursday, August 13th. TD Cowen reissued a "hold" rating on shares of Grocery Outlet in a research note on Tuesday, August 18th. Finally, Roth Capital restated a "neutral" rating and set a $10.00 target price on shares of Grocery Outlet in a report on Thursday, August 13th. Twelve analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Grocery Outlet currently has an average rating of "Reduce" and an average target price of $10.59.
View Our Latest Stock Analysis on Grocery Outlet
About Grocery Outlet
(
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Grocery Outlet Holding Corp. (NASDAQ: GO) is a specialty discount retailer that offers consumers deeply discounted groceries by purchasing excess inventory, closeouts, and overstocks from manufacturers and distributors. Headquartered in Emeryville, California, the company operates two primary banners—Grocery Outlet and Fresh2Go—with a combined footprint of more than 400 stores. Its product assortment spans fresh produce, meat, dairy, bakery items, household staples, natural and organic offerings, and select specialty products, all sold at significant markdowns compared to conventional supermarkets.
The company's unique buying model enables it to source inventory through opportunistic purchases of surplus freight, discontinued items, and closeout deals, which it then passes on as savings to its customers.
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