Zacks Research Reduces Earnings Estimates for Grocery Outlet

Grocery Outlet Holding Corp. (NASDAQ:GO) – Investment analysts at Zacks Research decreased their FY2024 earnings per share estimates for shares of Grocery Outlet in a report issued on Tuesday, November 19th. Zacks Research analyst S. Singh now forecasts that the company will post earnings per share of $0.63 for the year, down from their previous estimate of $0.67. The consensus estimate for Grocery Outlet’s current full-year earnings is $0.63 per share. Zacks Research also issued estimates for Grocery Outlet’s Q4 2024 earnings at $0.13 EPS, Q1 2025 earnings at $0.09 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.30 EPS, Q4 2025 earnings at $0.21 EPS, FY2025 earnings at $0.79 EPS, Q1 2026 earnings at $0.10 EPS, Q2 2026 earnings at $0.23 EPS, Q3 2026 earnings at $0.34 EPS and FY2026 earnings at $0.91 EPS.

GO has been the subject of a number of other research reports. UBS Group cut their target price 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. TD Cowen lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and reduced their price objective for the company from $25.00 to $16.00 in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Roth Capital upgraded Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company decreased their price objective on Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $18.00.

Grocery Outlet Trading Up 4.8 %

NASDAQ:GO opened at $19.54 on Friday. Grocery Outlet has a 12 month low of $13.60 and a 12 month high of $29.80. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. The firm’s 50 day moving average is $16.82 and its 200 day moving average is $19.06. The stock has a market capitalization of $1.90 billion, a PE ratio of 38.31, a price-to-earnings-growth ratio of 4.69 and a beta of 0.13.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the company posted $0.25 earnings per share. Grocery Outlet’s quarterly revenue was up 10.4% compared to the same quarter last year.

Insider Buying and Selling

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’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 value of $3,259,547.55. Following the completion of the sale, the director now owns 70,938 shares in the company, valued at approximately $1,155,580.02. The trade was a 73.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Erik D. Ragatz bought 110,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $18.25 per share, for a total transaction of $2,007,500.00. Following the completion of the purchase, the director now owns 539,785 shares of the company’s stock, valued at $9,851,076.25. This trade represents a 25.59 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Grocery Outlet

Several hedge funds have recently made changes to their positions in GO. Blue Trust Inc. lifted its holdings in Grocery Outlet by 76.6% in the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after buying an additional 722 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Grocery Outlet during the third quarter valued at approximately $32,000. Innealta Capital LLC purchased a new stake in Grocery Outlet in the second quarter worth $38,000. True Wealth Design LLC bought a new position in Grocery Outlet in the third quarter worth $75,000. Finally, Canada Pension Plan Investment Board purchased a new position in Grocery Outlet during the second quarter valued at $82,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

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.