Grocery Outlet Holding Corp. (NASDAQ:GO) Director Erik D. Ragatz Buys 110,000 Shares

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Erik D. Ragatz bought 110,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost of $18.25 per share, with a total value of $2,007,500.00. Following the completion of the purchase, the director now owns 539,785 shares in the company, valued at $9,851,076.25. This represents a 25.59 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Grocery Outlet Trading Down 1.0 %

Shares of Grocery Outlet stock opened at $18.44 on Thursday. The business has a fifty day simple moving average of $16.71 and a two-hundred day simple moving average of $19.15. Grocery Outlet Holding Corp. has a 1 year low of $13.60 and a 1 year high of $29.80. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 36.16, a P/E/G ratio of 4.45 and a beta of 0.13. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the firm posted $0.25 EPS. The company’s quarterly revenue was up 10.4% on a year-over-year basis. Research analysts forecast that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

Institutional Investors Weigh In On Grocery Outlet

Several hedge funds have recently added to or reduced their stakes in GO. Blue Trust Inc. lifted its holdings in shares of Grocery Outlet by 76.6% during the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after buying an additional 722 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Grocery Outlet during the first quarter worth $25,000. Swiss National Bank lifted its holdings in shares of Grocery Outlet by 0.6% during the first quarter. Swiss National Bank now owns 186,100 shares of the company’s stock worth $5,356,000 after buying an additional 1,200 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Grocery Outlet during the second quarter worth $38,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Grocery Outlet during the third quarter worth $32,000. Institutional investors and hedge funds own 99.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Telsey Advisory Group lowered their target price on Grocery Outlet from $19.00 to $18.00 and set a “market perform” rating for the company in a research note on Wednesday, November 6th. Loop Capital started coverage on shares of Grocery Outlet in a research note on Thursday, October 17th. They set a “hold” rating and a $17.00 price target for the company. Roth Capital raised shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. TD Cowen downgraded Grocery Outlet from a “buy” rating to a “hold” rating and cut their price objective for the company from $25.00 to $16.00 in a report on Wednesday, November 6th. Finally, Melius Research assumed coverage on Grocery Outlet in a report on Monday, September 23rd. They issued a “hold” rating and a $17.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.00.

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.