Grocery Outlet Holding Corp. to Post Q2 2024 Earnings of $0.13 Per Share, DA Davidson Forecasts (NASDAQ:GO)

Grocery Outlet Holding Corp. (NASDAQ:GO) – DA Davidson lowered their Q2 2024 earnings per share (EPS) estimates for shares of Grocery Outlet in a research note issued on Tuesday, August 6th. DA Davidson analyst M. Baker now expects that the company will post earnings per share of $0.13 for the quarter, down from their previous forecast of $0.14. The consensus estimate for Grocery Outlet’s current full-year earnings is $0.69 per share. DA Davidson also issued estimates for Grocery Outlet’s FY2024 earnings at $0.67 EPS and FY2025 earnings at $1.01 EPS.

Grocery Outlet (NASDAQ:GO) last issued its earnings results on Tuesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.05. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a net margin of 1.60% and a return on equity of 5.46%. Grocery Outlet’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the business posted $0.23 EPS.

A number of other research analysts have also recently issued reports on GO. Roth Mkm decreased their price objective on shares of Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday. Craig Hallum cut shares of Grocery Outlet from a “buy” rating to a “hold” rating and decreased their price objective for the company from $32.00 to $20.00 in a research note on Wednesday, July 31st. Wells Fargo & Company began coverage on shares of Grocery Outlet in a research note on Thursday, July 18th. They issued an “overweight” rating and a $28.00 price objective on the stock. UBS Group decreased their price objective on shares of Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, The Goldman Sachs Group decreased their target price on shares of Grocery Outlet from $24.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $25.40.

Grocery Outlet Stock Up 0.5 %

NASDAQ GO opened at $19.73 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23. Grocery Outlet has a 1-year low of $18.16 and a 1-year high of $36.54. The company has a 50 day moving average of $20.88 and a 200-day moving average of $23.94. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 30.83, a PEG ratio of 3.55 and a beta of 0.09.

Hedge Funds Weigh In On Grocery Outlet

Several institutional investors have recently made changes to their positions in GO. Allspring Global Investments Holdings LLC acquired a new position in shares of Grocery Outlet during the first quarter valued at about $25,000. Innealta Capital LLC acquired a new position in shares of Grocery Outlet during the second quarter valued at about $38,000. Daiwa Securities Group Inc. bought a new stake in shares of Grocery Outlet during the first quarter worth about $127,000. Headlands Technologies LLC increased its position in shares of Grocery Outlet by 32,200.0% during the fourth quarter. Headlands Technologies LLC now owns 4,845 shares of the company’s stock worth $131,000 after acquiring an additional 4,830 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Grocery Outlet during the fourth quarter worth about $193,000. Institutional investors and hedge funds own 99.87% of the company’s stock.

Insider Buying and Selling

In related news, EVP Luke D. Thompson sold 1,332 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $22.43, for a total value of $29,876.76. Following the transaction, the executive vice president now owns 32,306 shares in the company, valued at $724,623.58. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director John E. Bachman bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were acquired at an average price of $20.09 per share, for a total transaction of $200,900.00. Following the completion of the acquisition, the director now directly owns 25,872 shares in the company, valued at $519,768.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Luke D. Thompson sold 1,332 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $22.43, for a total transaction of $29,876.76. Following the completion of the transaction, the executive vice president now owns 32,306 shares in the company, valued at approximately $724,623.58. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by insiders.

Grocery Outlet Company Profile

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.