Grocery Outlet (NASDAQ:GO) Price Target Cut to $10.00 by Analysts at Morgan Stanley

Grocery Outlet (NASDAQ:GO) had its price objective trimmed by Morgan Stanley from $13.00 to $10.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has an underperform rating on the stock.

Other analysts also recently issued research reports about the stock. Telsey Advisory Group reduced their price objective on shares of Grocery Outlet from $18.00 to $16.00 and set a “market perform” rating for the company in a research report on Wednesday. UBS Group reduced their price target on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Roth Mkm dropped their price objective on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Craig Hallum reduced their target price on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Finally, TD Cowen downgraded Grocery Outlet from a “buy” rating to a “hold” rating and dropped their price target for the stock from $25.00 to $16.00 in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $15.58.

Grocery Outlet Price Performance

Shares of NASDAQ GO opened at $10.99 on Wednesday. The stock’s 50-day simple moving average is $16.14 and its 200-day simple moving average is $17.14. 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 firm has a market capitalization of $1.07 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 9.08 and a beta of 0.32. Grocery Outlet has a fifty-two week low of $10.26 and a fifty-two week high of $29.19.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. FPR Partners LLC grew its holdings in Grocery Outlet by 15.2% during the 4th quarter. FPR Partners LLC now owns 5,991,474 shares of the company’s stock valued at $93,527,000 after buying an additional 791,474 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Grocery Outlet by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,833,955 shares of the company’s stock valued at $59,845,000 after acquiring an additional 35,938 shares in the last quarter. State Street Corp boosted its stake in shares of Grocery Outlet by 0.6% during the third quarter. State Street Corp now owns 3,407,152 shares of the company’s stock valued at $59,796,000 after acquiring an additional 21,237 shares during the last quarter. Simcoe Capital Management LLC purchased a new stake in Grocery Outlet during the 4th quarter worth about $53,185,000. Finally, Clearbridge Investments LLC raised its stake in Grocery Outlet by 9.4% in the 4th quarter. Clearbridge Investments LLC now owns 3,158,059 shares of the company’s stock valued at $49,297,000 after purchasing an additional 272,285 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.

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.