Q3 EPS Estimates for Grocery Outlet Cut by DA Davidson

Grocery Outlet Holding Corp. (NASDAQ:GO) – Research analysts at DA Davidson lowered their Q3 2024 earnings per share estimates for shares of Grocery Outlet in a note issued to investors on Thursday, October 31st. DA Davidson analyst M. Baker now expects that the company will earn $0.21 per share for the quarter, down from their previous estimate of $0.22. The consensus estimate for Grocery Outlet’s current full-year earnings is $0.68 per share. DA Davidson also issued estimates for Grocery Outlet’s FY2024 earnings at $0.66 EPS and FY2025 earnings at $0.90 EPS.

Several other analysts have also recently issued reports on GO. Loop Capital initiated coverage on Grocery Outlet in a report on Thursday, October 17th. They issued a “hold” rating and a $17.00 target price for the company. Melius Research began coverage on Grocery Outlet in a research report on Monday, September 23rd. They issued a “hold” rating and a $17.00 price objective for the company. UBS Group reduced their target price on Grocery Outlet from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. The Goldman Sachs Group decreased their price objective on shares of Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a report on Friday. Finally, Bank of America downgraded shares of Grocery Outlet from a “buy” rating to a “neutral” rating and dropped their target price for the company from $29.00 to $17.00 in a report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.73.

Grocery Outlet Stock Up 5.2 %

Shares of GO opened at $15.05 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.31. The firm has a market cap of $1.47 billion, a P/E ratio of 27.87, a PEG ratio of 2.67 and a beta of 0.10. The stock’s 50 day moving average is $16.81 and its two-hundred day moving average is $20.01. Grocery Outlet has a 12 month low of $13.60 and a 12 month high of $29.98.

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

Insider Buying and Selling

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 100,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 70,938 shares of the company’s stock, valued at $1,340,728.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction that occurred on Thursday, September 19th. The shares were 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 of the company’s stock, valued at $1,155,580.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the sale, the director now directly owns 70,938 shares in the company, valued at approximately $1,340,728.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 500,095 shares of company stock valued at $8,876,548. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Grocery Outlet

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Grocery Outlet during the 1st quarter worth $25,000. Blue Trust Inc. increased its stake in shares of Grocery Outlet by 76.6% in the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after buying an additional 722 shares during the period. Capital Performance Advisors LLP acquired a new position in Grocery Outlet in the 3rd quarter valued at approximately $32,000. Innealta Capital LLC bought a new position in Grocery Outlet during the 2nd quarter worth $38,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Grocery Outlet in the second quarter worth approximately $82,000. 99.87% of the stock is currently owned by institutional investors and hedge funds.

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.