Grocery Outlet Holding Corp. (NASDAQ:GO) CFO Christopher M. Miller Purchases 10,000 Shares of Stock

Grocery Outlet Holding Corp. (NASDAQ:GO) CFO Christopher M. Miller purchased 10,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $11.68 per share, for a total transaction of $116,800.00. Following the transaction, the chief financial officer now owns 10,000 shares of the company’s stock, valued at $116,800. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Grocery Outlet Stock Up 7.6 %

Shares of GO stock opened at $11.83 on Friday. Grocery Outlet Holding Corp. has a 52-week low of $10.26 and a 52-week high of $29.19. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 9.08 and a beta of 0.32. The firm’s 50-day moving average is $16.05 and its 200-day moving average is $17.10.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Grocery Outlet by 8.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 313,642 shares of the company’s stock valued at $4,896,000 after buying an additional 23,606 shares during the last quarter. Voloridge Investment Management LLC increased its stake in shares of Grocery Outlet by 28.8% during the fourth quarter. Voloridge Investment Management LLC now owns 1,239,352 shares of the company’s stock worth $19,346,000 after purchasing an additional 277,489 shares during the period. Twinbeech Capital LP acquired a new stake in Grocery Outlet during the 4th quarter worth approximately $4,040,000. Two Sigma Advisers LP acquired a new position in Grocery Outlet in the 4th quarter valued at $1,033,000. Finally, Two Sigma Investments LP increased its position in Grocery Outlet by 188.3% during the 4th quarter. Two Sigma Investments LP now owns 396,445 shares of the company’s stock worth $6,189,000 after buying an additional 258,913 shares during the period. 99.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GO. The Goldman Sachs Group reduced their target price on Grocery Outlet from $14.00 to $11.00 and set a “sell” rating for the company in a report on Thursday. Morgan Stanley cut their price target on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating for the company in a research note on Wednesday. UBS Group lowered their target price on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Wells Fargo & Company reduced their price objective on shares of Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Roth Mkm lowered their target price on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.25.

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.