MKM Partners initiated coverage on shares of Grocery Outlet (NYSE:GO) in a research note issued to investors on Wednesday morning, BenzingaRatingsTable reports. The firm issued a buy rating and a $50.00 target price on the stock.

GO has been the subject of several other research reports. Nomura Instinet started coverage on shares of Grocery Outlet in a research note on Tuesday, June 16th. They issued a buy rating and a $40.00 target price for the company. Zacks Investment Research cut shares of Grocery Outlet from a buy rating to a hold rating in a research note on Friday, July 3rd. Morgan Stanley boosted their price objective on shares of Grocery Outlet from $38.00 to $41.00 and gave the company an equal weight rating in a research note on Tuesday, May 12th. Cowen reaffirmed a buy rating and set a $48.00 price objective on shares of Grocery Outlet in a research note on Thursday, June 18th. Finally, Deutsche Bank boosted their price objective on shares of Grocery Outlet from $42.00 to $43.00 and gave the company a buy rating in a research note on Tuesday, May 12th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Grocery Outlet presently has an average rating of Buy and a consensus target price of $43.85.

GO opened at $43.99 on Wednesday. The firm has a 50-day moving average price of $39.44 and a 200-day moving average price of $35.37. Grocery Outlet has a twelve month low of $28.11 and a twelve month high of $47.57.

Grocery Outlet (NYSE:GO) last posted its earnings results on Monday, May 11th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.04. The business had revenue of $760.30 million during the quarter, compared to analysts’ expectations of $748.13 million. Grocery Outlet’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS.

In other news, insider Thomas H. Mcmahon sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $37.00, for a total value of $925,000.00. Following the completion of the sale, the insider now directly owns 99,873 shares in the company, valued at approximately $3,695,301. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Steven K. Wilson sold 54,826 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $38.59, for a total transaction of $2,115,735.34. Following the completion of the sale, the senior vice president now owns 185,876 shares of the company’s stock, valued at $7,172,954.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 218,592 shares of company stock valued at $8,669,550.

Several institutional investors and hedge funds have recently made changes to their positions in GO. AllSquare Wealth Management LLC bought a new stake in shares of Grocery Outlet in the 1st quarter worth approximately $26,000. American International Group Inc. raised its holdings in Grocery Outlet by 68.8% during the 1st quarter. American International Group Inc. now owns 915 shares of the company’s stock valued at $31,000 after buying an additional 373 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in Grocery Outlet by 24.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,784 shares of the company’s stock valued at $61,000 after buying an additional 356 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in Grocery Outlet during the 1st quarter valued at $68,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Grocery Outlet during the 1st quarter valued at $69,000.

About Grocery Outlet

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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Analyst Recommendations for Grocery Outlet (NYSE:GO)

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