Telsey Advisory Group Cuts Grocery Outlet (NASDAQ:GO) Price Target to $15.00

Grocery Outlet (NASDAQ:GO) had its target price cut by Telsey Advisory Group from $17.00 to $15.00 in a research note released on Tuesday, MarketBeat reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also issued reports on the company. Bank of America cut their target price on Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. UBS Group reissued a “neutral” rating and issued a $11.50 price target on shares of Grocery Outlet in a research note on Thursday, December 18th. Deutsche Bank Aktiengesellschaft set a $11.00 price objective on shares of Grocery Outlet in a research note on Thursday, January 8th. TD Cowen dropped their target price on shares of Grocery Outlet from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Wednesday, November 5th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Grocery Outlet in a report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.14.

Grocery Outlet Stock Performance

NASDAQ:GO opened at $10.20 on Tuesday. The company has a 50-day moving average of $9.90 and a 200-day moving average of $13.25. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -204.00, a price-to-earnings-growth ratio of 2.07 and a beta of 0.49. The company has a current ratio of 1.30, a quick ratio of 0.25 and a debt-to-equity ratio of 0.40. Grocery Outlet has a twelve month low of $8.96 and a twelve month high of $19.41.

Hedge Funds Weigh In On Grocery Outlet

A number of hedge funds have recently modified their holdings of GO. T. Rowe Price Investment Management Inc. boosted its position in Grocery Outlet by 54.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 15,763,945 shares of the company’s stock valued at $159,216,000 after purchasing an additional 5,528,722 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Grocery Outlet by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 11,255,936 shares of the company’s stock worth $113,685,000 after purchasing an additional 213,325 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Grocery Outlet by 0.5% during the 4th quarter. Mackenzie Financial Corp now owns 4,709,721 shares of the company’s stock valued at $47,757,000 after buying an additional 22,418 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Grocery Outlet by 5.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,619,851 shares of the company’s stock valued at $74,149,000 after buying an additional 221,693 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Grocery Outlet by 0.5% in the 3rd quarter. Marshall Wace LLP now owns 4,577,371 shares of the company’s stock valued at $73,467,000 after buying an additional 20,819 shares in the last quarter. 99.87% of the stock is owned by institutional investors and hedge funds.

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.