FY2024 EPS Estimates for Grocery Outlet Holding Corp. (NASDAQ:GO) Decreased by Analyst

Grocery Outlet Holding Corp. (NASDAQ:GO) – Equities research analysts at DA Davidson reduced their FY2024 EPS estimates for shares of Grocery Outlet in a research note issued to investors on Wednesday, September 25th. DA Davidson analyst M. Baker now expects that the company will post earnings of $0.69 per share for the year, down from their previous estimate of $0.70. The consensus estimate for Grocery Outlet’s current full-year earnings is $0.68 per share.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the firm posted $0.23 EPS. The business’s revenue was up 11.7% compared to the same quarter last year.

A number of other research firms have also recently weighed in on GO. UBS Group lowered their target price 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, August 7th. Telsey Advisory Group lowered their target price on shares of Grocery Outlet from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. 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 target price on the stock. Roth Capital raised shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Roth Mkm lowered their target price 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, August 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $22.11.

Grocery Outlet Stock Performance

NASDAQ:GO opened at $17.67 on Friday. The firm’s 50-day moving average is $18.25 and its 200-day moving average is $21.92. Grocery Outlet has a 52-week low of $15.72 and a 52-week high of $29.98. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.29 and a current ratio of 1.29. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 3.12 and a beta of 0.10.

Hedge Funds Weigh In On Grocery Outlet

Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Grocery Outlet during the first quarter worth approximately $25,000. Innealta Capital LLC acquired a new position in Grocery Outlet in the second quarter valued at approximately $38,000. Canada Pension Plan Investment Board acquired a new position in Grocery Outlet in the second quarter valued at approximately $82,000. Daiwa Securities Group Inc. acquired a new position in Grocery Outlet in the first quarter valued at approximately $127,000. Finally, Bleakley Financial Group LLC acquired a new position in Grocery Outlet in the first quarter valued at approximately $217,000. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the sale, the director now directly owns 70,938 shares of the company’s stock, valued at $1,340,728.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $18.90, for a total transaction of $1,890,000.00. Following the transaction, the director now directly owns 70,938 shares in the company, valued at $1,340,728.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the transaction, the director now owns 70,938 shares in the company, valued at $1,155,580.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 500,095 shares of company stock valued at $8,876,548. 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.