Grocery Outlet (NASDAQ:GO) Stock Price Down 3.8% – What’s Next?

Grocery Outlet Holding Corp. (NASDAQ:GO) shares were down 3.8% on Monday . The company traded as low as $13.13 and last traded at $13.11. Approximately 933,875 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 2,537,303 shares. The stock had previously closed at $13.63.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Bank of America decreased their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Jefferies Financial Group raised shares of Grocery Outlet from a “hold” rating to a “buy” rating and increased their price target for the company from $13.00 to $18.00 in a report on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft cut Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a report on Wednesday, February 26th. Morgan Stanley dropped their price target on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating for the company in a report on Wednesday, February 26th. Finally, UBS Group upped their price objective on Grocery Outlet from $14.50 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.62.

Grocery Outlet Price Performance

The stock has a market cap of $1.27 billion, a P/E ratio of 25.39, a P/E/G ratio of 9.08 and a beta of 0.32. The company’s 50 day moving average price is $14.48 and its 200-day moving average price is $15.15. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34.

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

Insiders Place Their Bets

In other Grocery Outlet news, Director Erik D. Ragatz purchased 19,000 shares of the stock in a transaction dated Friday, May 9th. The shares were bought at an average price of $14.46 per share, with a total value of $274,740.00. Following the completion of the transaction, the director now directly owns 19,000 shares in the company, valued at approximately $274,740. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

Several hedge funds have recently added to or reduced their stakes in the company. Sterling Capital Management LLC boosted its holdings in Grocery Outlet by 53.9% during the 4th quarter. Sterling Capital Management LLC now owns 5,808 shares of the company’s stock valued at $91,000 after acquiring an additional 2,034 shares during the period. New York State Common Retirement Fund increased its stake in shares of Grocery Outlet by 124.7% in the fourth quarter. New York State Common Retirement Fund now owns 88,350 shares of the company’s stock worth $1,379,000 after buying an additional 49,035 shares during the period. Raymond James Financial Inc. bought a new stake in Grocery Outlet during the 4th quarter valued at $1,079,000. Invesco Ltd. raised its holdings in Grocery Outlet by 11.1% during the 4th quarter. Invesco Ltd. now owns 834,373 shares of the company’s stock valued at $13,025,000 after buying an additional 83,043 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Grocery Outlet by 2.1% during the 4th quarter. Principal Financial Group Inc. now owns 471,098 shares of the company’s stock valued at $7,354,000 after buying an additional 9,758 shares during the period. 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.