Grocery Outlet Holding Corp. (NYSE:GO)’s stock price was up 5.5% on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $34.40 and last traded at $33.20, approximately 1,330,981 shares changed hands during trading. An increase of 20% from the average daily volume of 1,112,628 shares. The stock had previously closed at $31.47.

The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. The firm had revenue of $655.52 million for the quarter, compared to analysts’ expectations of $654.72 million. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year.

GO has been the subject of a number of recent analyst reports. Morgan Stanley boosted their target price on shares of Grocery Outlet from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday. Deutsche Bank lowered their target price on shares of Grocery Outlet from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Wednesday. Telsey Advisory Group reissued an “outperform” rating on shares of Grocery Outlet in a research note on Tuesday, March 17th. Craig Hallum initiated coverage on shares of Grocery Outlet in a research note on Wednesday, January 29th. They set a “buy” rating and a $47.00 target price for the company. Finally, Zacks Investment Research lowered shares of Grocery Outlet from a “hold” rating to a “sell” rating in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Grocery Outlet currently has an average rating of “Hold” and a consensus target price of $41.30.

In other Grocery Outlet news, Director Thomas F. Herman sold 2,000 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $29.28, for a total value of $58,560.00. Following the completion of the transaction, the director now directly owns 23,185 shares in the company, valued at $678,856.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Steven K. Wilson sold 32,888 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $36.01, for a total transaction of $1,184,296.88. Following the completion of the transaction, the senior vice president now owns 179,595 shares of the company’s stock, valued at $6,467,215.95. The disclosure for this sale can be found here. Insiders sold 61,638 shares of company stock valued at $2,161,939 over the last quarter.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Grocery Outlet by 3,843.5% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,876,455 shares of the company’s stock valued at $158,241,000 after acquiring an additional 4,752,798 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Grocery Outlet by 106.8% during the fourth quarter. Alliancebernstein L.P. now owns 3,677,055 shares of the company’s stock valued at $119,320,000 after acquiring an additional 1,899,073 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Grocery Outlet by 260.5% during the fourth quarter. Capital Research Global Investors now owns 2,523,700 shares of the company’s stock valued at $81,894,000 after acquiring an additional 1,823,700 shares in the last quarter. FMR LLC increased its holdings in shares of Grocery Outlet by 86.2% during the fourth quarter. FMR LLC now owns 1,968,473 shares of the company’s stock valued at $63,877,000 after acquiring an additional 911,423 shares in the last quarter. Finally, Third Point LLC increased its holdings in shares of Grocery Outlet by 538.9% during the fourth quarter. Third Point LLC now owns 1,150,000 shares of the company’s stock valued at $37,318,000 after acquiring an additional 970,000 shares in the last quarter.

The stock has a 50-day moving average of $31.76 and a 200 day moving average of $32.89.

About Grocery Outlet (NYSE:GO)

Grocery Outlet Holding Corp. owns and operates a chain of grocery stores in the United States. The company offers products in various categories, such as grocery, dairy and deli, produce, refrigerated and frozen, floral, beer and wine, general merchandise, and health and beauty care, as well as fresh meat and seafood; and natural, organic, specialty, and healthy products.

See Also: Sell-Side Analysts

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