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

Grocery Outlet (NASDAQ:GO) had its target price cut by Telsey Advisory Group from $18.00 to $16.00 in a report issued on Wednesday,Benzinga reports. They currently have a market perform rating on the stock.

Other equities research analysts have also recently issued reports about the stock. TD Cowen cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and reduced their target price for the company from $25.00 to $16.00 in a report on Wednesday, November 6th. Bank of America reduced their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday. Wells Fargo & Company cut their price target on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. The Goldman Sachs Group cut their price target on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a report on Friday, November 1st. Finally, 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. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.25.

Grocery Outlet Price Performance

Shares of GO opened at $11.87 on Wednesday. Grocery Outlet has a 1-year low of $10.26 and a 1-year high of $29.13. The stock has a market cap of $1.15 billion, a PE ratio of 23.27, a price-to-earnings-growth ratio of 9.08 and a beta of 0.32. 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 fifty day moving average price of $15.95 and a 200 day moving average price of $17.05.

Insiders Place Their Bets

In other Grocery Outlet news, CFO Christopher M. Miller purchased 10,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $11.68 per share, for a total transaction of $116,800.00. Following the completion of the transaction, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $116,800. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 4.50% of the stock is currently owned by company insiders.

Institutional Trading of Grocery Outlet

Several large investors have recently modified their holdings of the business. FPR Partners LLC grew its position in shares of Grocery Outlet by 15.2% in the fourth quarter. FPR Partners LLC now owns 5,991,474 shares of the company’s stock valued at $93,527,000 after purchasing an additional 791,474 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Grocery Outlet by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,833,955 shares of the company’s stock valued at $59,845,000 after purchasing an additional 35,938 shares during the last quarter. State Street Corp grew its position in shares of Grocery Outlet by 0.6% in the third quarter. State Street Corp now owns 3,407,152 shares of the company’s stock valued at $59,796,000 after purchasing an additional 21,237 shares during the last quarter. Simcoe Capital Management LLC acquired a new stake in shares of Grocery Outlet in the fourth quarter valued at approximately $53,185,000. Finally, Clearbridge Investments LLC grew its position in shares of Grocery Outlet by 9.4% in the fourth quarter. Clearbridge Investments LLC now owns 3,158,059 shares of the company’s stock valued at $49,297,000 after purchasing an additional 272,285 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.

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.