Telsey Advisory Group initiated coverage on shares of Grocery Outlet (NYSE:GO) in a report released on Monday morning, BenzingaRatingsTable reports. The firm issued an outperform rating and a $40.00 target price on the stock.
Shares of NYSE GO opened at $35.87 on Monday. Grocery Outlet has a 52-week low of $27.75 and a 52-week high of $36.60.
In related news, CFO Charles Bracher purchased 2,610 shares of Grocery Outlet stock in a transaction dated Monday, June 24th. The stock was bought at an average price of $22.00 per share, for a total transaction of $57,420.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey York purchased 25,000 shares of Grocery Outlet stock in a transaction dated Monday, June 24th. The stock was bought at an average price of $22.00 per share, with a total value of $550,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 58,530 shares of company stock valued at $1,287,660.
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.
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