Wells Fargo & Company Cuts Grocery Outlet (NASDAQ:GO) Price Target to $18.00

Grocery Outlet (NASDAQ:GO) had its price target lowered by Wells Fargo & Company from $23.00 to $18.00 in a research report report published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other analysts have also recently weighed in on GO. Deutsche Bank Aktiengesellschaft cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a research note on Wednesday. UBS Group dropped their price target on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. TD Cowen downgraded Grocery Outlet from a “buy” rating to a “hold” rating and reduced their price target for the stock from $25.00 to $16.00 in a research report on Wednesday, November 6th. Bank of America lowered their price objective on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, The Goldman Sachs Group cut their target price on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $15.58.

Grocery Outlet Stock Performance

Shares of NASDAQ GO opened at $10.99 on Wednesday. Grocery Outlet has a one year low of $10.26 and a one year high of $29.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 9.08 and a beta of 0.32. The stock’s fifty day moving average price is $16.14 and its two-hundred day moving average price is $17.14.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Barclays PLC increased its holdings in Grocery Outlet by 1,224.1% in the 3rd quarter. Barclays PLC now owns 300,393 shares of the company’s stock worth $5,271,000 after purchasing an additional 277,706 shares in the last quarter. Jane Street Group LLC boosted its holdings in Grocery Outlet by 357.7% in the third quarter. Jane Street Group LLC now owns 519,542 shares of the company’s stock valued at $9,118,000 after acquiring an additional 406,039 shares during the last quarter. Choreo LLC acquired a new stake in Grocery Outlet during the 4th quarter valued at approximately $245,000. Cerity Partners LLC increased its position in Grocery Outlet by 887.1% during the 3rd quarter. Cerity Partners LLC now owns 105,675 shares of the company’s stock valued at $1,855,000 after purchasing an additional 94,969 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in Grocery Outlet during the 3rd quarter worth approximately $511,000. 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.