Insider Selling: Grocery Outlet Holding Corp. (NASDAQ:GO) EVP Sells $427,500.00 in Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) EVP Steven K. Wilson sold 15,000 shares of Grocery Outlet stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $28.50, for a total value of $427,500.00. Following the transaction, the executive vice president now directly owns 165,931 shares in the company, valued at approximately $4,729,033.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Grocery Outlet Trading Up 4.1 %

Shares of GO stock opened at $29.00 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 0.43. Grocery Outlet Holding Corp. has a 1-year low of $23.41 and a 1-year high of $36.54. The business’s fifty day moving average price is $26.17 and its 200 day moving average price is $27.41. The firm has a market capitalization of $2.88 billion, a PE ratio of 36.71, a P/E/G ratio of 2.66 and a beta of 0.08.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. Grocery Outlet had a return on equity of 7.17% and a net margin of 2.00%. The business had revenue of $989.82 million for the quarter, compared to the consensus estimate of $982.44 million. As a group, sell-side analysts forecast that Grocery Outlet Holding Corp. will post 0.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Grocery Outlet

Several institutional investors and hedge funds have recently added to or reduced their stakes in GO. Clearfield Capital Management LP acquired a new stake in Grocery Outlet during the second quarter worth about $31,919,000. Van Berkom & Associates Inc. grew its stake in shares of Grocery Outlet by 62.4% in the third quarter. Van Berkom & Associates Inc. now owns 2,394,826 shares of the company’s stock valued at $69,091,000 after buying an additional 920,032 shares in the last quarter. Norges Bank purchased a new position in Grocery Outlet in the fourth quarter valued at about $24,588,000. Balyasny Asset Management L.P. purchased a new position in Grocery Outlet in the fourth quarter valued at about $22,781,000. Finally, BlackRock Inc. lifted its holdings in Grocery Outlet by 7.7% during the 1st quarter. BlackRock Inc. now owns 8,852,693 shares of the company’s stock worth $290,192,000 after buying an additional 631,964 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. The Goldman Sachs Group lowered Grocery Outlet from a “buy” rating to a “sell” rating and cut their price target for the stock from $33.00 to $24.00 in a research report on Tuesday, December 12th. Telsey Advisory Group dropped their target price on Grocery Outlet from $40.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Craig Hallum raised Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Wednesday, February 28th. Finally, UBS Group dropped their target price on Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $31.44.

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.