Grocery Outlet (NASDAQ:GO) Sets New 12-Month Low at $19.72

Grocery Outlet Holding Corp. (NASDAQ:GO)’s stock price reached a new 52-week low on Tuesday . The company traded as low as $19.72 and last traded at $19.73, with a volume of 1652898 shares traded. The stock had previously closed at $20.36.

Analysts Set New Price Targets

GO has been the subject of a number of research analyst reports. TD Cowen cut their price target on shares of Grocery Outlet from $43.00 to $25.00 and set a “buy” rating for the company in a report on Friday, May 10th. Wells Fargo & Company started coverage on shares of Grocery Outlet in a research report on Thursday, July 18th. They set an “overweight” rating and a $28.00 price target for the company. Telsey Advisory Group lowered their price target on Grocery Outlet from $37.00 to $31.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. Roth Mkm reduced their price objective on Grocery Outlet from $27.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Finally, The Goldman Sachs Group decreased their target price on Grocery Outlet from $24.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $28.82.

Grocery Outlet Price Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 1.25 and a quick ratio of 0.30. The firm has a market capitalization of $1.98 billion, a PE ratio of 30.91, a P/E/G ratio of 3.60 and a beta of 0.09. The company has a 50-day moving average price of $21.41 and a 200-day moving average price of $24.43.

Grocery Outlet (NASDAQ:GO) last announced its earnings results on Tuesday, May 7th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.10). Grocery Outlet had a net margin of 1.60% and a return on equity of 5.46%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. Sell-side analysts forecast that Grocery Outlet Holding Corp. will post 0.69 EPS for the current year.

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz bought 100,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was purchased at an average cost of $20.91 per share, for a total transaction of $2,091,000.00. Following the completion of the purchase, the director now owns 429,785 shares of the company’s stock, valued at approximately $8,986,804.35. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Erik D. Ragatz bought 100,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was purchased at an average cost of $20.91 per share, for a total transaction of $2,091,000.00. Following the completion of the acquisition, the director now owns 429,785 shares in the company, valued at $8,986,804.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John E. Bachman purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was bought at an average price of $20.09 per share, for a total transaction of $200,900.00. Following the acquisition, the director now owns 25,872 shares in the company, valued at $519,768.48. The disclosure for this purchase can be found here. 4.50% of the stock is currently owned by insiders.

Institutional Trading of Grocery Outlet

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Louisiana State Employees Retirement System grew its stake in Grocery Outlet by 75.5% during the second quarter. Louisiana State Employees Retirement System now owns 50,200 shares of the company’s stock worth $1,110,000 after buying an additional 21,600 shares during the period. Washington Capital Management Inc. acquired a new position in shares of Grocery Outlet during the 2nd quarter valued at $396,000. Raymond James & Associates boosted its position in Grocery Outlet by 48.0% during the 2nd quarter. Raymond James & Associates now owns 82,730 shares of the company’s stock worth $1,830,000 after purchasing an additional 26,828 shares during the period. Boston Partners purchased a new stake in Grocery Outlet during the 1st quarter worth $303,000. Finally, Tidal Investments LLC increased its holdings in Grocery Outlet by 64.9% in the 1st quarter. Tidal Investments LLC now owns 39,037 shares of the company’s stock valued at $1,123,000 after purchasing an additional 15,369 shares in the last quarter. Institutional investors and hedge funds own 99.87% of the company’s stock.

About Grocery Outlet

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.