Grocery Outlet Holding Corp. (NASDAQ:GO) Director Erik D. Ragatz Acquires 165,000 Shares

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Erik D. Ragatz bought 165,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $12.25 per share, for a total transaction of $2,021,250.00. Following the completion of the transaction, the director now directly owns 201,500 shares in the company, valued at approximately $2,468,375. This trade represents a 452.05 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Grocery Outlet Stock Down 4.5 %

GO stock opened at $11.33 on Tuesday. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average of $15.86 and a two-hundred day moving average of $16.97. Grocery Outlet Holding Corp. has a 12 month low of $10.26 and a 12 month high of $29.13. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 9.08 and a beta of 0.32.

Analyst Ratings Changes

Several analysts have commented on the company. Morgan Stanley dropped their price objective on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, February 26th. UBS Group decreased their target price on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Craig Hallum cut their price target on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. TD Cowen downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and decreased their price objective for the company from $25.00 to $16.00 in a report on Wednesday, November 6th. Finally, Roth Mkm cut their target price on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $15.25.

Institutional Investors Weigh In On Grocery Outlet

Several hedge funds and other institutional investors have recently made changes to their positions in GO. Blue Trust Inc. grew its holdings in Grocery Outlet by 76.6% in the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after buying an additional 722 shares in the last quarter. Decker Retirement Planning Inc. acquired a new position in shares of Grocery Outlet during the 4th quarter valued at about $31,000. Capital Performance Advisors LLP purchased a new stake in shares of Grocery Outlet in the third quarter valued at about $32,000. Aster Capital Management DIFC Ltd acquired a new stake in Grocery Outlet during the fourth quarter worth about $41,000. Finally, Quadrant Capital Group LLC raised its stake in Grocery Outlet by 276.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,773 shares of the company’s stock worth $43,000 after purchasing an additional 2,036 shares during the period. Institutional investors and hedge funds 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.