Grocery Outlet (NASDAQ:GO) Director Carey Jaros Acquires 15,000 Shares

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Carey Jaros purchased 15,000 shares of Grocery Outlet stock in a transaction dated Thursday, August 27th. The stock was bought at an average price of $11.70 per share, with a total value of $175,500.00. Following the completion of the purchase, the director directly owned 60,000 shares of the company’s stock, valued at approximately $702,000. This trade represents a 33.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Grocery Outlet Stock Down 1.8%

Shares of Grocery Outlet stock opened at $11.95 on Tuesday. Grocery Outlet Holding Corp. has a twelve month low of $5.66 and a twelve month high of $18.79. The company has a quick ratio of 0.30, a current ratio of 1.29 and a debt-to-equity ratio of 0.60. The company’s 50 day moving average is $10.21 and its 200 day moving average is $8.80. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -3.09, a price-to-earnings-growth ratio of 8.46 and a beta of 0.65.

Grocery Outlet (NASDAQ:GO) last posted its earnings results on Wednesday, August 12th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.07. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. Grocery Outlet had a negative net margin of 8.04% and a positive return on equity of 5.84%. The firm’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 EPS. Research analysts anticipate that Grocery Outlet Holding Corp. will post 0.42 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on GO. DA Davidson upped their price objective on Grocery Outlet from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, August 13th. UBS Group raised their target price on Grocery Outlet from $10.00 to $11.50 and gave the stock a “neutral” rating in a research report on Monday, August 17th. Morgan Stanley boosted their price target on Grocery Outlet from $7.00 to $11.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Roth Capital reaffirmed a “neutral” rating and set a $10.00 price target on shares of Grocery Outlet in a research report on Thursday, August 13th. Finally, Telsey Advisory Group reiterated a “market perform” rating on shares of Grocery Outlet in a research note on Thursday, August 13th. Twelve equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $10.59.

Institutional Trading of Grocery Outlet

A number of hedge funds and other institutional investors have recently bought and sold shares of GO. T. Rowe Price Investment Management Inc. lifted its position in shares of Grocery Outlet by 54.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 15,763,945 shares of the company’s stock valued at $159,216,000 after buying an additional 5,528,722 shares in the last quarter. BlackRock Inc. purchased a new position in Grocery Outlet during the second quarter valued at approximately $152,440,000. Vanguard Group Inc. lifted its holdings in Grocery Outlet by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 11,255,936 shares of the company’s stock valued at $113,685,000 after purchasing an additional 213,325 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Grocery Outlet by 0.5% in the fourth quarter. Mackenzie Financial Corp now owns 4,709,721 shares of the company’s stock worth $47,757,000 after purchasing an additional 22,418 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Grocery Outlet by 5.0% in the third quarter. Dimensional Fund Advisors LP now owns 4,619,851 shares of the company’s stock worth $74,149,000 after purchasing an additional 221,693 shares during the period. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. (NASDAQ: GO) is a specialty discount retailer that offers consumers deeply discounted groceries by purchasing excess inventory, closeouts, and overstocks from manufacturers and distributors. Headquartered in Emeryville, California, the company operates two primary banners—Grocery Outlet and Fresh2Go—with a combined footprint of more than 400 stores. Its product assortment spans fresh produce, meat, dairy, bakery items, household staples, natural and organic offerings, and select specialty products, all sold at significant markdowns compared to conventional supermarkets.

The company’s unique buying model enables it to source inventory through opportunistic purchases of surplus freight, discontinued items, and closeout deals, which it then passes on as savings to its customers.