Grocery Outlet (NASDAQ:GO) Given New $26.00 Price Target at Deutsche Bank Aktiengesellschaft

Grocery Outlet (NASDAQ:GO) had its target price trimmed by Deutsche Bank Aktiengesellschaft from $29.00 to $26.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

GO has been the subject of several other reports. TD Cowen cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and cut their target price for the company from $25.00 to $16.00 in a research note on Wednesday. Craig Hallum cut their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday. The Goldman Sachs Group cut their target price on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating for the company in a research note on Friday, November 1st. Bank of America cut shares of Grocery Outlet from a “buy” rating to a “neutral” rating and cut their target price for the company from $29.00 to $17.00 in a research note on Wednesday, October 30th. Finally, Melius Research initiated coverage on shares of Grocery Outlet in a research note on Monday, September 23rd. They issued a “hold” rating and a $17.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Grocery Outlet has a consensus rating of “Hold” and a consensus price target of $18.17.

Grocery Outlet Stock Up 3.4 %

Grocery Outlet stock traded up $0.55 during trading hours on Wednesday, hitting $16.66. The company had a trading volume of 122,833 shares, compared to its average volume of 1,812,992. The firm has a market capitalization of $1.63 billion, a P/E ratio of 31.59, a price-to-earnings-growth ratio of 3.42 and a beta of 0.13. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.29. The firm’s fifty day moving average is $16.66 and its 200-day moving average is $19.75. Grocery Outlet has a fifty-two week low of $13.60 and a fifty-two week high of $29.98.

Grocery Outlet (NASDAQ:GO) last posted its earnings results on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 earnings per share. On average, research analysts forecast that Grocery Outlet will post 0.66 earnings per share for the current year.

Insider Buying and Selling

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $18.83, for a total transaction of $1,883,000.00. Following the sale, the director now owns 70,938 shares of the company’s stock, valued at $1,335,762.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $18.83, for a total value of $1,883,000.00. Following the transaction, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,335,762.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the completion of the transaction, the director now directly owns 70,938 shares in the company, valued at $1,155,580.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 500,095 shares of company stock worth $8,876,548 in the last quarter. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Thrivent Financial for Lutherans lifted its stake in Grocery Outlet by 5.9% in the third quarter. Thrivent Financial for Lutherans now owns 209,531 shares of the company’s stock valued at $3,677,000 after buying an additional 11,615 shares in the last quarter. Angeles Investment Advisors LLC lifted its stake in Grocery Outlet by 18.5% in the third quarter. Angeles Investment Advisors LLC now owns 21,535 shares of the company’s stock valued at $378,000 after buying an additional 3,355 shares in the last quarter. Geneva Capital Management LLC lifted its position in shares of Grocery Outlet by 0.9% in the third quarter. Geneva Capital Management LLC now owns 1,575,495 shares of the company’s stock worth $27,650,000 after purchasing an additional 13,561 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Grocery Outlet by 23.2% in the third quarter. Victory Capital Management Inc. now owns 915,119 shares of the company’s stock worth $16,060,000 after purchasing an additional 172,050 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Grocery Outlet in the third quarter worth $2,507,000. Institutional investors own 99.87% of the company’s stock.

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.