Grocery Outlet Holding Corp. (NASDAQ:GO) Director Erik D. Ragatz Acquires 19,000 Shares

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Erik D. Ragatz acquired 19,000 shares of the company’s stock in a transaction dated Friday, May 9th. The shares were purchased at an average price of $14.46 per share, for a total transaction of $274,740.00. Following the purchase, the director now directly owns 19,000 shares of the company’s stock, valued at approximately $274,740. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Grocery Outlet Stock Performance

Grocery Outlet stock opened at $13.48 on Thursday. The company has a market cap of $1.32 billion, a PE ratio of 26.43, a P/E/G ratio of 9.08 and a beta of 0.42. The company has a fifty day moving average price of $14.21 and a two-hundred day moving average price of $15.81. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. Grocery Outlet Holding Corp. has a 12 month low of $10.26 and a 12 month high of $23.25.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Grocery Outlet had a net margin of 1.20% and a return on equity of 5.25%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 earnings per share. Research analysts expect that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Grocery Outlet from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Jefferies Financial Group upgraded shares of Grocery Outlet from a “hold” rating to a “buy” rating and lifted their price target for the stock from $13.00 to $18.00 in a research note on Wednesday, April 16th. The Goldman Sachs Group dropped their price target on shares of Grocery Outlet from $14.00 to $11.00 and set a “sell” rating for the company in a research note on Thursday, February 27th. Telsey Advisory Group restated a “market perform” rating and issued a $16.00 price target on shares of Grocery Outlet in a research note on Wednesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $15.62.

Hedge Funds Weigh In On Grocery Outlet

Several hedge funds and other institutional investors have recently modified their holdings of GO. Decker Retirement Planning Inc. acquired a new position in shares of Grocery Outlet during the fourth quarter valued at $31,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Grocery Outlet during the fourth quarter valued at $41,000. US Bancorp DE boosted its holdings in shares of Grocery Outlet by 64.2% during the first quarter. US Bancorp DE now owns 3,024 shares of the company’s stock valued at $42,000 after acquiring an additional 1,182 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Grocery Outlet by 276.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company’s stock valued at $43,000 after acquiring an additional 2,036 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Grocery Outlet by 62.7% during the fourth quarter. KBC Group NV now owns 4,506 shares of the company’s stock valued at $70,000 after acquiring an additional 1,736 shares during the period. Institutional investors and hedge funds 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.