Paul Blaine Miller Acquires 8,000 Shares of Grocery Outlet (NASDAQ:GO) Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) insider Paul Blaine Miller purchased 8,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was acquired at an average cost of $10.90 per share, with a total value of $87,200.00. Following the transaction, the insider directly owned 72,171 shares in the company, valued at $786,663.90. This trade represents a 12.47% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Paul Blaine Miller also recently made the following trade(s):

• On Thursday, June 25th, Paul Blaine Miller acquired 5,000 shares of Grocery Outlet stock. The shares were bought at an average cost of $9.50 per share, for a total transaction of $47,500.00.
• On Thursday, June 18th, Paul Blaine Miller acquired 10,000 shares of Grocery Outlet stock. The stock was bought at an average price of $9.37 per share, for a total transaction of $93,700.00.

Grocery Outlet Trading Up 4.4%

NASDAQ:GO opened at $11.60 on Friday. The firm has a market cap of $1.15 billion, a PE ratio of -3.00, a price-to-earnings-growth ratio of 8.94 and a beta of 0.65. The stock has a fifty day moving average price of $9.90 and a 200 day moving average price of $8.71. Grocery Outlet Holding Corp. has a 12-month low of $5.66 and a 12-month 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.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.07. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. Grocery Outlet had a positive return on equity of 5.84% and a negative net margin of 8.04%.Grocery Outlet’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 EPS. Sell-side analysts anticipate that Grocery Outlet Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GO has been the topic of several analyst reports. DA Davidson raised their target price on shares of Grocery Outlet from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Wells Fargo & Company increased their price objective on shares of Grocery Outlet from $9.00 to $11.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $9.00 price objective on shares of Grocery Outlet in a report on Thursday, August 13th. Weiss Ratings raised shares of Grocery Outlet from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, August 13th. Finally, UBS Group boosted their target price on shares of Grocery Outlet from $10.00 to $11.50 and gave the stock a “neutral” rating in a research note on Monday, August 17th. Twelve analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Grocery Outlet has an average rating of “Reduce” and a consensus price target of $10.59.

Hedge Funds Weigh In On Grocery Outlet

Several hedge funds have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd increased its position in shares of Grocery Outlet by 1,030.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,532 shares of the company’s stock worth $26,000 after purchasing an additional 2,308 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Grocery Outlet in the 4th quarter valued at about $35,000. Allworth Financial LP purchased a new position in Grocery Outlet during the 2nd quarter worth approximately $40,000. Quantbot Technologies LP purchased a new position in Grocery Outlet during the 2nd quarter worth approximately $46,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Grocery Outlet during the second quarter worth approximately $58,000. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Grocery Outlet Company Profile

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.