DA Davidson Estimates Grocery Outlet Q4 Earnings

Grocery Outlet Holding Corp. (NASDAQ:GO) – Stock analysts at DA Davidson issued their Q4 2024 earnings per share (EPS) estimates for Grocery Outlet in a research note issued to investors on Wednesday, November 6th. DA Davidson analyst M. Baker anticipates that the company will post earnings per share of $0.10 for the quarter. The consensus estimate for Grocery Outlet’s current full-year earnings is $0.65 per share. DA Davidson also issued estimates for Grocery Outlet’s FY2025 earnings at $0.65 EPS.

Grocery Outlet (NASDAQ:GO) last posted 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 net margin of 1.20% and a return on equity of 5.25%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the firm posted $0.25 EPS. Grocery Outlet’s revenue was up 10.4% on a year-over-year basis.

A number of other research firms have also commented on GO. Melius Research assumed coverage on Grocery Outlet in a report on Monday, September 23rd. They issued a “hold” rating and a $17.00 price target for the company. Telsey Advisory Group cut their target price on Grocery Outlet from $19.00 to $18.00 and set a “market perform” rating for the company in a research note on Wednesday. The Goldman Sachs Group decreased their price target on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a research report on Friday, November 1st. Loop Capital assumed coverage on shares of Grocery Outlet in a research report on Thursday, October 17th. They issued a “hold” rating and a $17.00 price objective for the company. Finally, UBS Group reduced their price objective on shares of Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $18.00.

Grocery Outlet Price Performance

NASDAQ GO opened at $17.80 on Friday. The company has a quick ratio of 0.29, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The company has a market cap of $1.74 billion, a PE ratio of 34.90, a price-to-earnings-growth ratio of 3.92 and a beta of 0.13. Grocery Outlet has a 52 week low of $13.60 and a 52 week high of $29.98. The firm’s 50-day simple moving average is $16.55 and its two-hundred day simple moving average is $19.64.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Capital World Investors lifted its position in Grocery Outlet by 281.4% during the 1st quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock valued at $103,023,000 after acquiring an additional 2,641,016 shares during the period. Millennium Management LLC lifted its holdings in shares of Grocery Outlet by 677.6% during the second quarter. Millennium Management LLC now owns 1,981,558 shares of the company’s stock valued at $43,832,000 after purchasing an additional 1,726,741 shares during the last quarter. CWM LLC boosted its position in shares of Grocery Outlet by 505.6% in the 3rd quarter. CWM LLC now owns 51,933 shares of the company’s stock worth $911,000 after purchasing an additional 43,358 shares in the last quarter. Bleakley Financial Group LLC purchased a new stake in shares of Grocery Outlet in the 1st quarter worth approximately $217,000. Finally, Thrivent Financial for Lutherans increased its position in Grocery Outlet by 137.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 197,916 shares of the company’s stock valued at $4,378,000 after buying an additional 114,576 shares in the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Insider Activity

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the sale, 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 sale 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 100,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the director now owns 70,938 shares of the company’s stock, valued at $1,340,728.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction 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 completion of the sale, the director now owns 70,938 shares in the company, valued at approximately $1,155,580.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 500,095 shares of company stock valued at $8,876,548. 4.50% of the stock is currently owned by company insiders.

About Grocery Outlet

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.