Grocery Outlet (NASDAQ:GO) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Grocery Outlet (NASDAQ:GO) had its price target upped by Wells Fargo & Company from $18.00 to $19.00 in a research note issued to investors on Wednesday, Marketbeat reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group raised shares of Grocery Outlet from a “hold” rating to a “buy” rating and raised their target price for the stock from $13.00 to $18.00 in a report on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft cut Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a report on Wednesday, February 26th. Telsey Advisory Group reissued a “market perform” rating and set a $16.00 target price on shares of Grocery Outlet in a report on Wednesday, April 30th. The Goldman Sachs Group cut their price objective on shares of Grocery Outlet from $14.00 to $11.00 and set a “sell” rating for the company in a research report on Thursday, February 27th. Finally, Morgan Stanley decreased their target price on shares of Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.62.

Grocery Outlet Stock Down 3.9 %

Grocery Outlet stock opened at $14.40 on Wednesday. Grocery Outlet has a twelve month low of $10.26 and a twelve month high of $23.25. The stock has a market cap of $1.41 billion, a P/E ratio of 28.24, a P/E/G ratio of 9.08 and a beta of 0.42. The company’s 50-day moving average price is $14.11 and its two-hundred day moving average price is $15.87. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.06. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the company posted $0.09 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, analysts expect that Grocery Outlet will post 0.63 EPS for the current year.

Insider Buying and Selling

In other Grocery Outlet news, EVP Steven K. Wilson sold 6,477 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total transaction of $73,449.18. Following the completion of the transaction, the executive vice president now owns 173,605 shares in the company, valued at approximately $1,968,680.70. This trade represents a 3.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Lindsay E. Gray sold 2,741 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total transaction of $31,082.94. Following the completion of the transaction, the senior vice president now owns 41,448 shares in the company, valued at approximately $470,020.32. The trade was a 6.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 200,000 shares of company stock worth $2,435,050 and have sold 17,756 shares worth $216,892. 4.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Grocery Outlet

Institutional investors have recently added to or reduced their stakes in the business. Amundi increased its stake in Grocery Outlet by 0.6% during the 4th quarter. Amundi now owns 116,139 shares of the company’s stock valued at $1,895,000 after purchasing an additional 719 shares in the last quarter. Cedar Wealth Management LLC increased its position in shares of Grocery Outlet by 3.9% during the fourth quarter. Cedar Wealth Management LLC now owns 20,370 shares of the company’s stock worth $318,000 after acquiring an additional 765 shares in the last quarter. US Bancorp DE raised its holdings in shares of Grocery Outlet by 64.2% in the 1st quarter. US Bancorp DE now owns 3,024 shares of the company’s stock worth $42,000 after acquiring an additional 1,182 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Grocery Outlet by 2.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 46,875 shares of the company’s stock valued at $732,000 after purchasing an additional 1,240 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its position in shares of Grocery Outlet by 9.6% during the 4th quarter. Integrated Wealth Concepts LLC now owns 15,671 shares of the company’s stock valued at $245,000 after purchasing an additional 1,377 shares during the last quarter. 99.87% of the stock is owned by institutional investors and hedge funds.

About Grocery Outlet

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