Grocery Outlet Target of Unusually High Options Trading (NASDAQ:GO)

Grocery Outlet Holding Corp. (NASDAQ:GO) was the recipient of unusually large options trading activity on Tuesday. Stock traders purchased 10,055 put options on the stock. This represents an increase of approximately 2,317% compared to the typical volume of 416 put options.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wells Fargo & Company assumed coverage on Grocery Outlet in a research note on Thursday, July 18th. They issued an “overweight” rating and a $28.00 price target on the stock. Roth Mkm lowered their price objective on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. UBS Group dropped their target price on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Roth Capital raised shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Melius Research started coverage on shares of Grocery Outlet in a research report on Monday, September 23rd. They set a “hold” rating and a $17.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $21.60.

Insider Transactions at Grocery Outlet

In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the sale, the director now directly owns 70,938 shares in the company, valued at approximately $1,155,580.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was 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 in the company, valued at $1,340,728.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction dated 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 sale, the director now owns 70,938 shares in the company, valued at approximately $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. In the last quarter, insiders sold 500,095 shares of company stock worth $8,876,548. 4.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GO. Allspring Global Investments Holdings LLC bought a new stake in Grocery Outlet during the 1st quarter valued at $25,000. Blue Trust Inc. boosted its holdings in Grocery Outlet by 76.6% during the 3rd quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares during the period. Innealta Capital LLC bought a new position in shares of Grocery Outlet during the second quarter valued at about $38,000. Canada Pension Plan Investment Board purchased a new stake in Grocery Outlet in the second quarter worth $82,000. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Grocery Outlet during the first quarter valued at approximately $127,000. Institutional investors own 99.87% of the company’s stock.

Grocery Outlet Stock Down 1.5 %

Shares of Grocery Outlet stock traded down $0.25 during trading on Tuesday, reaching $16.59. The stock had a trading volume of 741,854 shares, compared to its average volume of 1,752,986. 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 stock has a fifty day moving average price of $17.07 and a two-hundred day moving average price of $20.25. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 31.19, a P/E/G ratio of 3.21 and a beta of 0.10. Grocery Outlet has a 52 week low of $15.18 and a 52 week high of $29.98.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the business earned $0.23 earnings per share. Grocery Outlet’s revenue was up 11.7% on a year-over-year basis. Sell-side analysts predict that Grocery Outlet will post 0.68 EPS for the current fiscal year.

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.