Grocery Outlet (NYSE:GO) Trading Up 4%

Grocery Outlet Holding Corp. (NYSE:GO)’s stock price was up 4% during mid-day trading on Friday . The company traded as high as $43.82 and last traded at $45.49, approximately 46,661 shares changed hands during mid-day trading. A decline of 93% from the average daily volume of 629,265 shares. The stock had previously closed at $43.76.

A number of research analysts have recently issued reports on GO shares. Barclays reiterated a “hold” rating and issued a $37.00 target price on shares of Grocery Outlet in a research note on Thursday. Goldman Sachs Group started coverage on shares of Grocery Outlet in a research note on Monday, July 15th. They issued a “neutral” rating and a $32.00 target price for the company. Cowen reiterated an “outperform” rating and issued a $48.00 target price (up previously from $42.00) on shares of Grocery Outlet in a research note on Wednesday. Guggenheim started coverage on shares of Grocery Outlet in a research note on Monday, July 15th. They issued a “neutral” rating for the company. Finally, Bank of America lifted their target price on shares of Grocery Outlet from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $40.00.

The stock has a 50-day moving average of $36.39.

Grocery Outlet (NYSE:GO) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.07. The company had revenue of $645.30 million during the quarter, compared to the consensus estimate of $626.60 million. The business’s revenue was up 12.2% on a year-over-year basis.

In other Grocery Outlet news, SVP Steven K. Wilson bought 20,000 shares of the company’s stock in a transaction on Monday, June 24th. The stock was bought at an average price of $22.00 per share, for a total transaction of $440,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Charles Bracher bought 2,610 shares of the company’s stock in a transaction on Monday, June 24th. The shares were acquired at an average price of $22.00 per share, with a total value of $57,420.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 58,530 shares of company stock valued at $1,287,660 in the last quarter.

Several institutional investors have recently modified their holdings of GO. Price T Rowe Associates Inc. MD acquired a new position in shares of Grocery Outlet in the 2nd quarter valued at $52,501,000. Vanguard Group Inc. acquired a new position in shares of Grocery Outlet in the 2nd quarter valued at $33,674,000. JPMorgan Chase & Co. acquired a new position in shares of Grocery Outlet in the 2nd quarter valued at $25,921,000. Citadel Advisors LLC acquired a new position in shares of Grocery Outlet in the 2nd quarter valued at $26,055,000. Finally, Wasatch Advisors Inc. acquired a new position in shares of Grocery Outlet in the 2nd quarter valued at $21,111,000.

Grocery Outlet Company Profile (NYSE:GO)

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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