Grocery Outlet (NASDAQ:GO) hits new 12-month low on domestic selloff

Grocery Outlet Holding Corp. (NASDAQ:GO – Get Your Free Report ) hit a new 52-week low during mid-day trading on Thursday, following internal selling activity. The company traded as high as $18.05 and last traded at $18.06 with a volume of 16380 shares. Shares previously closed at $18.25.

Specifically, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $18.44, for a total transaction of $1,844,000.00. Following the completion of the transaction, the director now owns 70,938 shares in the company, valued at approximately $1,308,096.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of Grocery Outlet stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the transaction, the director now directly owns 70,938 shares of the company’s stock, valued at $1,340,728.20. The disclosure for this sale can be found here. In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $18.83, for a total transaction of $1,883,000.00. Following the completion of the sale, the director now owns 70,938 shares of the company’s stock, valued at $1,335,762.54. The transaction was disclosed in a filing with the SEC, which is accessible via this link.

Analyst upgrades and downgrades

A number of equities research analysts have recently weighed in on the company. Goldman Sachs Group dropped their price target on Grocery Outlet from $24.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, May 9th. UBS Group cut their price target on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Craig Hallum downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and cut their price target for the stock from $32.00 to $20.00 in a research report on Wednesday , July 31. Roth Mkm cut their price objective on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, Telsey Advisory Group decreased their price target on shares of Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, 7 August. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $22.75, based on data from MarketBeat.

Read our latest research report on Grocery Outlet

Stock performance at grocery stores

The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 3.55 and a beta of 0.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.25, and a quick ratio of 0.30. The stock has a 50-day moving average of $20.36 and a 200-day moving average of $23.46.

Grocery Outlet (NASDAQ:GO – Get Free Report ) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. Grocery Outlet had a net margin of 1.60% and a return on equity of 5.46%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.10 billion. In the same quarter last year, the company earned $0.23 EPS. Grocery Outlet revenues increased 11.7% year over year. On average, analysts expect that Grocery Outlet Holding Corp. to post 0.69 EPS for the current year.

Institutional inputs and outputs

Large investors have recently made changes to their positions in the stock. Point72 Asset Management LP boosted its stake in Grocery Outlet by 73.8% in the second quarter. Point72 Asset Management LP now owns 475,381 shares of the company’s stock valued at $10,515,000 after acquiring an additional 201,881 shares in the last quarter. Lighthouse Investment Partners LLC boosted its stake in Grocery Outlet by 54.0% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 300,000 shares of the company’s stock worth $6,636,000 after acquiring an additional 105,160 shares shares in the last quarter. Millennium Management LLC boosted its holdings in Grocery Outlet by 677.6% in the second quarter. Millennium Management LLC now owns 1,981,558 shares of the company’s stock valued at $43,832,000 after purchasing an additional 1,726,741 shares during the period. Solel Partners LP bought a new stake in Grocery Outlet in the second quarter valued at about $35,980,000. Finally, Providence Capital Advisors LLC boosted its holdings in Grocery Outlet by 80.9% in the second quarter. Providence Capital Advisors LLC now owns 285,803 shares of the company’s stock worth $6,322,000 after buying an additional 127,812 shares during the period. Institutional investors and hedge funds own 99.87% of the company’s shares.

About Grocery Outlet

(Get a free report)

Grocery Outlet Holding Corp. operates as a retailer of groceries and fresh produce sold through independently operated stores in the United States. Its stores offer products from various categories such as dairy and deli, vegetables, flowers, fresh meat, seafood, grocery, general merchandise, health and beauty care, frozen goods, beer and wine, and ethnic products.

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