Grocery Outlet (NASDAQ:GO) Given New $21.00 Price Target at The Goldman Sachs Group

Grocery Outlet (NASDAQ:GO) had its price target lowered by research analysts at The Goldman Sachs Group from $24.00 to $21.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 0.57% from the company’s current price.

A number of other research analysts also recently weighed in on the company. UBS Group dropped their price target on Grocery Outlet from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday. Craig Hallum raised Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Wednesday, February 28th. Finally, Telsey Advisory Group reduced their price target on shares of Grocery Outlet from $37.00 to $31.00 and set an “outperform” rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $30.11.

Grocery Outlet Stock Performance

Shares of GO stock opened at $20.88 on Thursday. The business’s 50-day moving average price is $26.94 and its 200-day moving average price is $27.07. Grocery Outlet has a 12 month low of $19.73 and a 12 month high of $36.54. The company has a current ratio of 1.35, a quick ratio of 0.43 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 2.47 and a beta of 0.13.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $989.82 million for the quarter, compared to analyst estimates of $982.44 million. Grocery Outlet had a return on equity of 7.17% and a net margin of 2.00%. Equities research analysts forecast that Grocery Outlet will post 0.95 EPS for the current year.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, Director Thomas F. Herman sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $29.00, for a total transaction of $58,000.00. Following the sale, the director now owns 11,400 shares in the company, valued at $330,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Grocery Outlet news, Director Thomas F. Herman sold 2,000 shares of Grocery Outlet stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $29.00, for a total transaction of $58,000.00. Following the transaction, the director now directly owns 11,400 shares of the company’s stock, valued at $330,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas F. Herman sold 1,000 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $29.00, for a total transaction of $29,000.00. Following the completion of the sale, the director now directly owns 10,400 shares of the company’s stock, valued at approximately $301,600. The disclosure for this sale can be found here. Insiders have sold 506,588 shares of company stock valued at $13,367,577 in the last quarter. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WCM Investment Management LLC lifted its stake in Grocery Outlet by 4.8% in the fourth quarter. WCM Investment Management LLC now owns 946,674 shares of the company’s stock worth $25,532,000 after acquiring an additional 43,352 shares during the period. Hsbc Holdings PLC lifted its position in shares of Grocery Outlet by 1,410.7% in the 3rd quarter. Hsbc Holdings PLC now owns 138,349 shares of the company’s stock worth $3,983,000 after purchasing an additional 129,191 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Grocery Outlet by 4.6% during the 4th quarter. Mackenzie Financial Corp now owns 4,926,336 shares of the company’s stock valued at $132,814,000 after purchasing an additional 216,257 shares in the last quarter. State of Michigan Retirement System increased its position in shares of Grocery Outlet by 6.8% during the third quarter. State of Michigan Retirement System now owns 23,580 shares of the company’s stock valued at $680,000 after buying an additional 1,500 shares during the period. Finally, Barclays PLC raised its stake in Grocery Outlet by 88.6% in the third quarter. Barclays PLC now owns 100,361 shares of the company’s stock worth $2,897,000 after buying an additional 47,140 shares in the last quarter. 99.87% of the stock is currently owned by institutional investors.

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.