The chairman of Grocery Outlet Holding Corp. (NASDAQ:GO) Robert Joseph Jr. Sheedy sells 6,667 shares

Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) Chairman Robert Joseph Jr. Sheedy sold 6,667 shares in a trade on Thursday, September 8. The stock was sold at an average price of $38.32, for a total value of $255,479.44. As a result of the sale, the president now directly owns 63,992 shares of the company, valued at $2,452,173.44. The transaction was disclosed in a filing with the SEC, accessible via this link.

Robert Joseph Jr. Sheedy also recently made the following trade(s):

  • On Thursday, August 25, Robert Joseph Jr. Sheedy sold 6,667 shares of Grocery Outlet. The stock was sold at an average price of $39.33, for a total value of $262,213.11.
  • On Thursday, August 11, Robert Joseph Jr. Sheedy sold 6,667 shares of Grocery Outlet. The shares were sold at an average price of $42.33, for a total value of $282,214.11.
  • On Monday, July 25, Robert Joseph Jr. Sheedy sold 6,667 shares of Grocery Outlet. The stock was sold at an average price of $44.22, for a total value of $294,814.74.
  • On Monday, July 11, Robert Joseph Jr. Sheedy sold 6,667 shares of Grocery Outlet. The shares were sold at an average price of $44.30, for a total value of $295,348.10.
  • On Monday, June 27, Robert Joseph Jr. Sheedy sold 6,667 shares of Grocery Outlet. The stock was sold at an average price of $43.12, for a total value of $287,481.04.
  • On Monday, June 13, Robert Joseph Jr. Sheedy sold 6,667 shares of Grocery Outlet. The shares were sold at an average price of $38.32, for a total value of $255,479.44.

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GO stock traded at $0.51 in Friday’s midday session, hitting $38.27. The company’s shares had a trading volume of 749,836 shares, compared to its average volume of 1,025,274. The company has a market capitalization of $3.71 billion, a P/E ratio of 68.34, a PEG ratio of 4.18 and a beta of -0.23. The company has a 50-day simple moving average of $42.39 and a 200-day simple moving average of $37.28. Grocery Outlet Holding Corp. has a 52-week low of $21.01 and a 52-week high of $46.37. The company has a quick ratio of 0.42, a current ratio of 1.65 and a debt ratio of 0.36.

Grocery Outlet (NASDAQ:GO – Get Rating) last reported its quarterly results on Tuesday, August 9. The company reported EPS of $0.29 for the quarter, beating the consensus estimate of $0.24 by $0.05. Grocery Outlet had a net margin of 1.69% and a return on equity of 8.57%. The company posted revenue of $897.70 million for the quarter, versus analyst estimates of $859.80 million. During the same period last year, the company achieved EPS of $0.22. Grocery Outlet revenue for the quarter increased 15.8% compared to the same quarter last year. As a group, stock analysts expect Grocery Outlet Holding Corp. will post an EPS of 0.78 for the current year.

Hedge funds weigh on grocery stores

A number of institutional investors have recently changed their holdings in GO. BlackRock Inc. increased its stake in Grocery Outlet shares by 7.7% in the first quarter. BlackRock Inc. now owns 8,852,693 shares of the company valued at $290,192,000 after purchasing an additional 631,964 shares during the period. Vanguard Group Inc. increased its position in Grocery Outlet stocks by 1.2% during the first quarter. Vanguard Group Inc. now owns 8,490,964 shares of the company worth $278,334,000 after purchasing an additional 96,832 shares during the period. Capital Research Global Investors increased its stake in Grocery Outlet shares by 6.7% in the first quarter. Capital Research Global Investors now owns 7,339,446 shares of the company valued at $240,587,000 after purchasing an additional 463,415 shares last quarter. Capital World Investors increased its holdings of Grocery Outlet shares by 44.7% in the fourth quarter. Capital World Investors now owns 5,693,839 shares of the company valued at $161,022,000 after acquiring an additional 1,760,000 shares last quarter. Finally, Parnassus Investments LLC increased its equity stake in Grocery Outlet by 12.5% ​​in the first quarter. Parnassus Investments LLC now owns 5,448,421 shares of the company valued at $178,599,000 after purchasing an additional 605,392 shares during the period. Institutional investors and hedge funds own 98.42% of the company’s shares.

Changes to analyst ratings

Several equity research analysts have commented on GO shares. Telsey Advisory Group raised its price target on Grocery Outlet from $48.00 to $50.00 and gave the stock an “outperform” rating in a Wednesday, August 10 report. Morgan Stanley downgraded Grocery Outlet from an “equal weight” rating to an “underweight” rating and raised its price target for the company from $29.00 to $33.00 in a Tuesday report August 23. TheStreet upgraded Grocery Outlet from a “c” rating to a “b” rating in a Tuesday, June 21 research report. Deutsche Bank Aktiengesellschaft raised its price target on Grocery Outlet from $48.00 to $51.00 and gave the company a “buy” rating in a Wednesday, August 10 research report. Finally, Cowen raised its price target on Grocery Outlet from $45.00 to $53.00 in a Wednesday, August 10 report. One research analyst rated the security with a sell rating, two assigned a hold rating and six assigned a buy rating. According to MarketBeat.com, the stock currently has an average rating of “moderate buy” and a consensus target price of $43.80.

Grocery Business Profile

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Grocery Outlet Holding Corp. owns and operates a network of independent stores in the United States. The Company’s stores offer products in various categories, such as dairy and deli products, fruits and vegetables, floral and fresh meat and seafood products, as well as groceries, general merchandise, health and beauty care, frozen food, beer and wine.

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Insider buying and selling by quarter for grocery stores (NASDAQ:GO)

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