Eric J. Jr. Lindberg Sells 300,000 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) Stock

Grocery Outlet Holding Corp. (NASDAQ:GOGet Free Report) Director Eric J. Jr. Lindberg sold 300,000 shares of Grocery Outlet stock in a transaction on 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 completion of the sale, the director now owns 107,123 shares of the company’s stock, valued at approximately $2,802,337.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Grocery Outlet Stock Performance

Shares of GO traded down $0.22 during midday trading on Monday, hitting $26.16. 1,454,762 shares of the stock traded hands, compared to its average volume of 1,240,458. Grocery Outlet Holding Corp. has a 1-year low of $23.41 and a 1-year high of $36.54. The firm has a market capitalization of $2.60 billion, a PE ratio of 33.39, a price-to-earnings-growth ratio of 2.69 and a beta of 0.08. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.43 and a current ratio of 1.35. The business’s 50 day moving average price is $26.10 and its two-hundred day moving average price is $27.93.

Institutional Investors Weigh In On Grocery Outlet

Several institutional investors have recently bought and sold shares of GO. Advisor Group Holdings Inc. lifted its holdings in Grocery Outlet by 51.3% in the first quarter. Advisor Group Holdings Inc. now owns 5,508 shares of the company’s stock worth $192,000 after purchasing an additional 1,868 shares during the period. Raymond James & Associates raised its position in Grocery Outlet by 38.3% in the first quarter. Raymond James & Associates now owns 55,554 shares of the company’s stock worth $1,821,000 after acquiring an additional 15,389 shares in the last quarter. Private Advisor Group LLC bought a new stake in Grocery Outlet in the first quarter worth about $242,000. Citigroup Inc. raised its position in Grocery Outlet by 120.4% in the first quarter. Citigroup Inc. now owns 22,823 shares of the company’s stock worth $748,000 after acquiring an additional 134,572 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in Grocery Outlet in the first quarter worth about $1,166,000.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GO shares. Roth Mkm decreased their price objective on shares of Grocery Outlet from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, November 8th. Craig Hallum raised shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Wednesday, February 28th. Telsey Advisory Group decreased their price objective on shares of Grocery Outlet from $40.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Morgan Stanley decreased their price objective on shares of Grocery Outlet from $27.00 to $20.00 and set an “underweight” rating for the company in a report on Thursday, November 9th. Finally, UBS Group decreased their price objective on shares of Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Grocery Outlet has an average rating of “Hold” and an average price target of $31.44.

Check Out Our Latest Research Report on GO

Grocery Outlet Company Profile

(Get Free Report)

Grocery Outlet Holding Corp. engages in ownership and operation of a network of independently operated stores in the United States. The company's stores offer products in various categories, such as dairy and deli, produce, floral, and fresh meat and seafood products, as well as grocery, general merchandise, health and beauty care, frozen foods, and beer and wine.

Further Reading

Insider Buying and Selling by Quarter for Grocery Outlet (NASDAQ:GO)

Receive News & Ratings for Grocery Outlet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Grocery Outlet and related companies with MarketBeat.com's FREE daily email newsletter.