Thomas F. Herman Sells 1,000 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) Director Thomas F. Herman sold 1,000 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $29.00, for a total value of $29,000.00. Following the completion of the transaction, the director now directly owns 10,400 shares in the company, valued at approximately $301,600. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Grocery Outlet Price Performance

Shares of NASDAQ GO opened at $29.00 on Thursday. Grocery Outlet Holding Corp. has a fifty-two week low of $23.41 and a fifty-two week high of $36.54. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 36.71, a PEG ratio of 2.68 and a beta of 0.08. The business has a 50-day moving average of $26.17 and a 200-day moving average of $27.41. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 0.43.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. The firm had revenue of $989.82 million during the quarter, compared to the consensus estimate of $982.44 million. Grocery Outlet had a net margin of 2.00% and a return on equity of 7.17%. As a group, sell-side analysts predict that Grocery Outlet Holding Corp. will post 0.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Captrust Financial Advisors increased its holdings in Grocery Outlet by 58.1% in the second quarter. Captrust Financial Advisors now owns 762 shares of the company’s stock valued at $32,000 after purchasing an additional 280 shares during the period. Amalgamated Bank increased its stake in shares of Grocery Outlet by 0.7% during the 3rd quarter. Amalgamated Bank now owns 58,944 shares of the company’s stock worth $1,701,000 after purchasing an additional 410 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in Grocery Outlet by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 42,093 shares of the company’s stock worth $1,135,000 after buying an additional 410 shares during the period. Osaic Holdings Inc. boosted its holdings in Grocery Outlet by 5.8% in the 2nd quarter. Osaic Holdings Inc. now owns 7,791 shares of the company’s stock valued at $241,000 after purchasing an additional 427 shares during the period. Finally, Securian Asset Management Inc. boosted its holdings in Grocery Outlet by 5.4% in the 3rd quarter. Securian Asset Management Inc. now owns 8,366 shares of the company’s stock valued at $241,000 after purchasing an additional 432 shares during the period. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GO has been the topic of a number of analyst reports. Telsey Advisory Group cut their price target on Grocery Outlet from $40.00 to $37.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. UBS Group lowered their price objective on shares of Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. The Goldman Sachs Group cut shares of Grocery Outlet from a “buy” rating to a “sell” rating and lowered their price objective for the company from $33.00 to $24.00 in a research report on Tuesday, December 12th. Finally, Craig Hallum upgraded shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Grocery Outlet currently has a consensus rating of “Hold” and an average target price of $31.44.

Grocery Outlet Company Profile

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.