Luke D. Thompson Sells 1,331 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) Stock

Posted by Mark Dietrich on May 26th, 2023

Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) SVP Luke D. Thompson sold 1,331 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $29.55, for a total value of $39,331.05. Following the transaction, the senior vice president now directly owns 21,790 shares in the company, valued at $643,894.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Grocery Outlet Stock Performance

NASDAQ:GO opened at $29.11 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.37 and a debt-to-equity ratio of 0.28. Grocery Outlet Holding Corp. has a 12-month low of $25.71 and a 12-month high of $46.37. The stock has a 50-day moving average price of $29.02 and a 200 day moving average price of $29.31. The stock has a market capitalization of $2.86 billion, a P/E ratio of 43.45, a P/E/G ratio of 3.65 and a beta of -0.01.

Grocery Outlet (NASDAQ:GO – Get Rating) last released its quarterly earnings results on Tuesday, February 28th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. The business had revenue of $930.83 million during the quarter, compared to analysts’ expectations of $904.17 million. Grocery Outlet had a return on equity of 7.41% and a net margin of 1.81%. Equities research analysts forecast that Grocery Outlet Holding Corp. will post 0.77 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Telsey Advisory Group reissued an “outperform” rating and issued a $44.00 target price on shares of Grocery Outlet in a report on Friday, February 24th. Morgan Stanley lowered their target price on Grocery Outlet from $26.00 to $25.00 and set an “underweight” rating on the stock in a report on Wednesday, March 1st. Deutsche Bank Aktiengesellschaft lowered their target price on Grocery Outlet from $38.00 to $34.00 in a report on Wednesday, March 1st. TheStreet downgraded Grocery Outlet from a “b-” rating to a “c+” rating in a report on Wednesday, February 1st. Finally, The Goldman Sachs Group lowered their target price on Grocery Outlet from $38.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, March 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.00.

Hedge Funds Weigh In On Grocery Outlet

Several institutional investors have recently added to or reduced their stakes in GO. Advisor Group Holdings Inc. lifted its stake in shares of Grocery Outlet by 51.3% in the 1st quarter. Advisor Group Holdings Inc. now owns 5,508 shares of the company’s stock valued at $192,000 after purchasing an additional 1,868 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Grocery Outlet by 38.3% in the 1st quarter. Raymond James & Associates now owns 55,554 shares of the company’s stock valued at $1,821,000 after purchasing an additional 15,389 shares during the last quarter. Private Advisor Group LLC bought a new stake in shares of Grocery Outlet in the 1st quarter valued at approximately $242,000. Citigroup Inc. lifted its stake in shares of Grocery Outlet by 120.4% in the 1st quarter. Citigroup Inc. now owns 22,823 shares of the company’s stock valued at $748,000 after purchasing an additional 134,572 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Grocery Outlet in the 1st quarter valued at approximately $1,166,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Grocery Outlet Company Profile

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Grocery Outlet Holding Corp. engages in the operation of retail stores in the United States. It offers name-brand consumables and fresh products through a network of independently operated stores. The company was founded by Jim Read in 1946 and is headquartered in Emeryville, CA.