Brokers Set Expectations for Grocery Outlet FY2024 Earnings

Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) - Zacks Research decreased their FY2024 earnings estimates for shares of Grocery Outlet in a research report issued to clients and investors on Tuesday, November 19th. Zacks Research analyst S. Singh now expects that the company will earn $0.63 per share for the year, down from their prior forecast 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.

Several other brokerages have also recently commented on GO. Craig Hallum dropped their target price on Grocery Outlet from $20.00 to $17.00 and set a "hold" rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group cut their price target on shares of Grocery Outlet from $17.00 to $15.00 and set a "sell" rating on the stock in a report on Friday, November 1st. Roth Mkm dropped their price objective on shares of Grocery Outlet from $20.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 6th. UBS Group decreased 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 note on Wednesday, November 6th. Finally, Loop Capital began coverage on shares of Grocery Outlet in a research note on Thursday, October 17th. They issued a "hold" rating and a $17.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Grocery Outlet presently has an average rating of "Hold" and an average price target of $18.00.

Grocery Outlet Stock Performance

GO stock traded up $0.83 on Friday, reaching $19.48. The company's stock had a trading volume of 1,460,009 shares, compared to its average volume of 1,849,630. The firm has a fifty day moving average of $16.76 and a two-hundred day moving average of $19.15. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The company has a market capitalization of $1.89 billion, a P/E ratio of 36.57, a price-to-earnings-growth ratio of 4.65 and a beta of 0.13. Grocery Outlet has a 52 week low of $13.60 and a 52 week high of $29.80.

Grocery Outlet (NASDAQ:GO - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The business's revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 earnings per share.

Insider Activity at Grocery Outlet

In other news, Director Erik D. Ragatz bought 110,000 shares of the company's stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of $18.25 per share, with a total value of $2,007,500.00. Following the acquisition, the director now owns 539,785 shares in the company, valued at $9,851,076.25. This trade represents a 25.59 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet 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 sale, the director now directly owns 70,938 shares of the company's stock, valued at approximately $1,155,580.02. The trade was a 73.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital World Investors increased its stake in shares of Grocery Outlet by 281.4% in the first quarter. Capital World Investors now owns 3,579,683 shares of the company's stock valued at $103,023,000 after buying an additional 2,641,016 shares during the period. Millennium Management LLC lifted its stake in shares of Grocery Outlet by 677.6% in the second quarter. Millennium Management LLC now owns 1,981,558 shares of the company's stock valued at $43,832,000 after buying an additional 1,726,741 shares in the last quarter. Solel Partners LP acquired a new position in shares of Grocery Outlet during the second quarter valued at about $35,980,000. American Century Companies Inc. increased its position in shares of Grocery Outlet by 889.9% during the second quarter. American Century Companies Inc. now owns 1,010,785 shares of the company's stock worth $22,359,000 after acquiring an additional 908,680 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of Grocery Outlet by 159.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,235,078 shares of the company's stock worth $21,676,000 after acquiring an additional 759,697 shares during the last quarter. Institutional investors and hedge funds own 99.87% of the company's stock.

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.