UBS Group Has Lowered Expectations for Grocery Outlet (NASDAQ:GO) Stock Price

Grocery Outlet (NASDAQ:GO) had its price target dropped by investment analysts at UBS Group from $21.00 to $16.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price would indicate a potential downside of 6.92% from the company’s current price.

A number of other research firms have also weighed in on GO. TD Cowen lowered Grocery Outlet from a “buy” rating to a “hold” rating and reduced their price objective for the company from $25.00 to $16.00 in a research note on Wednesday. Craig Hallum reduced their price target on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a research report on Wednesday. Melius Research initiated coverage on Grocery Outlet in a research report on Monday, September 23rd. They issued a “hold” rating and a $17.00 price objective on the stock. Roth Capital upgraded shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Telsey Advisory Group lowered their price target on shares of Grocery Outlet from $19.00 to $18.00 and set a “market perform” rating on the stock in a report on Wednesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.17.

Grocery Outlet Stock Performance

Shares of GO opened at $17.19 on Wednesday. Grocery Outlet has a 12 month low of $13.60 and a 12 month high of $29.98. The stock has a fifty day moving average price of $16.59 and a 200-day moving average price of $19.72. The company has a current ratio of 1.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.31. The firm has a market cap of $1.68 billion, a PE ratio of 33.63, a P/E/G ratio of 3.42 and a beta of 0.13.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. Grocery Outlet’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 EPS. Equities research analysts predict that Grocery Outlet will post 0.66 earnings per share for the current fiscal year.

Insider Activity at Grocery Outlet

In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the transaction, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,340,728.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of Grocery Outlet stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the sale, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,340,728.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the completion of the transaction, the director now owns 70,938 shares of the company’s stock, valued at $1,155,580.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 500,095 shares of company stock valued at $8,876,548. 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 added to or reduced their stakes in GO. Vanguard Group Inc. boosted its stake in shares of Grocery Outlet by 0.7% in the first quarter. Vanguard Group Inc. now owns 9,333,850 shares of the company’s stock valued at $268,628,000 after purchasing an additional 60,830 shares during the period. 12 West Capital Management LP boosted its position in Grocery Outlet by 383.3% in the 1st quarter. 12 West Capital Management LP now owns 3,625,000 shares of the company’s stock valued at $104,328,000 after buying an additional 2,875,000 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Grocery Outlet by 22.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,613,617 shares of the company’s stock worth $79,933,000 after acquiring an additional 655,065 shares in the last quarter. Capital World Investors increased its position in shares of Grocery Outlet by 281.4% during the first quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock worth $103,023,000 after acquiring an additional 2,641,016 shares during the period. Finally, Van Berkom & Associates Inc. increased its position in shares of Grocery Outlet by 21.1% during the second quarter. Van Berkom & Associates Inc. now owns 3,498,533 shares of the company’s stock worth $77,388,000 after acquiring an additional 609,871 shares during the period. Hedge funds and other 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.