Emerald Advisers LLC bought a new stake in shares of Grocery Outlet Holding Corp. (NYSE:GO) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,790 shares of the company’s stock, valued at approximately $256,000.
Separately, Janus Henderson Group PLC purchased a new stake in Grocery Outlet in the second quarter worth $486,000.
Several equities research analysts recently weighed in on GO shares. Bank of America upped their price target on Grocery Outlet from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday. Jefferies Financial Group upped their price target on Grocery Outlet from $41.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday. Deutsche Bank upped their price target on Grocery Outlet from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday. Guggenheim started coverage on Grocery Outlet in a research note on Monday, July 15th. They issued a “neutral” rating on the stock. Finally, Barclays reaffirmed a “hold” rating and issued a $37.00 price target on shares of Grocery Outlet in a research note on Thursday. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $40.00.
NYSE GO opened at $41.65 on Thursday. Grocery Outlet Holding Corp. has a 12 month low of $27.75 and a 12 month high of $42.31. The business has a fifty day moving average of $35.95.
Grocery Outlet (NYSE:GO) last released its earnings results on Tuesday, August 13th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.07. The company had revenue of $645.30 million during the quarter, compared to analysts’ expectations of $626.60 million. Grocery Outlet’s quarterly revenue was up 12.2% compared to the same quarter last year.
In related news, President Robert Joseph Jr. Sheedy bought 10,000 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were purchased at an average cost of $22.00 per share, with a total value of $220,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey York bought 25,000 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was bought at an average cost of $22.00 per share, for a total transaction of $550,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 58,530 shares of company stock worth $1,287,660.
Grocery Outlet Company Profile
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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