UBS Group Trims Grocery Outlet (NASDAQ:GO) Target Price to $27.00

Grocery Outlet (NASDAQ:GO) had its target price reduced by investment analysts at UBS Group from $30.00 to $27.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target suggests a potential upside of 25.99% from the company’s previous close.

Several other research firms also recently weighed in on GO. Telsey Advisory Group reduced their price objective on Grocery Outlet from $37.00 to $31.00 and set an “outperform” rating for the company in a research report on Wednesday. Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $30.44.

Grocery Outlet Price Performance

Shares of NASDAQ:GO traded down $4.47 during trading on Wednesday, reaching $21.43. 1,352,204 shares of the company traded hands, compared to its average volume of 1,239,295. Grocery Outlet has a 52 week low of $20.48 and a 52 week high of $36.54. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average is $26.95 and its two-hundred day moving average is $27.09. The firm has a market capitalization of $2.14 billion, a PE ratio of 27.13, a PEG ratio of 2.47 and a beta of 0.13.

Grocery Outlet (NASDAQ:GO) last issued its earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. Grocery Outlet had a return on equity of 7.17% and a net margin of 2.00%. The company had revenue of $989.82 million for the quarter, compared to analyst estimates of $982.44 million. As a group, sell-side analysts predict that Grocery Outlet will post 0.95 earnings per share for the current year.

Insider Transactions at Grocery Outlet

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 300,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $26.16, for a total value of $7,848,000.00. Following the completion of the transaction, the director now owns 107,123 shares in the company, valued at $2,802,337.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Eric J. Jr. Lindberg sold 300,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $26.16, for a total transaction of $7,848,000.00. Following the transaction, the director now directly owns 107,123 shares in the company, valued at $2,802,337.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrea Renee Bortner sold 4,112 shares of Grocery Outlet stock in a transaction on Monday, March 4th. The shares were sold at an average price of $26.33, for a total value of $108,268.96. Following the completion of the transaction, the insider now owns 49,308 shares in the company, valued at approximately $1,298,279.64. The disclosure for this sale can be found here. In the last three months, insiders sold 506,588 shares of company stock valued at $13,367,577. Insiders own 4.50% of the company’s stock.

Institutional Trading of Grocery Outlet

Institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank grew its position in shares of Grocery Outlet by 0.7% during the 3rd quarter. Amalgamated Bank now owns 58,944 shares of the company’s stock worth $1,701,000 after buying an additional 410 shares during the period. Treasurer of the State of North Carolina lifted its position in Grocery Outlet by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 42,093 shares of the company’s stock valued at $1,135,000 after purchasing an additional 410 shares during the last quarter. Securian Asset Management Inc. grew its holdings in shares of Grocery Outlet by 5.4% during the 3rd quarter. Securian Asset Management Inc. now owns 8,366 shares of the company’s stock valued at $241,000 after purchasing an additional 432 shares during the last quarter. Arizona State Retirement System grew its holdings in Grocery Outlet by 2.0% in the 3rd quarter. Arizona State Retirement System now owns 26,586 shares of the company’s stock worth $767,000 after acquiring an additional 520 shares during the last quarter. Finally, Versor Investments LP boosted its holdings in Grocery Outlet by 1.5% in the fourth quarter. Versor Investments LP now owns 37,341 shares of the company’s stock valued at $1,007,000 after acquiring an additional 550 shares in the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.

About Grocery Outlet

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.