DA Davidson Lowers Earnings Estimates for Grocery Outlet

Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) - Research analysts at DA Davidson dropped their Q3 2024 earnings estimates for shares of Grocery Outlet in a research report issued on Thursday, October 31st. DA Davidson analyst M. Baker now anticipates that the company will post earnings of $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.

Grocery Outlet (NASDAQ:GO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.25 EPS for the quarter, beating 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 business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the business posted $0.23 EPS. The company's quarterly revenue was up 11.7% on a year-over-year basis.

Several other equities analysts also recently issued reports on GO. The Goldman Sachs Group reduced their price objective on Grocery Outlet from $17.00 to $15.00 and set a "sell" rating for the company in a research report on Friday. UBS Group lowered their price target on Grocery Outlet from $27.00 to $21.00 and set a "neutral" rating on the stock in a report on Wednesday, August 7th. Wells Fargo & Company decreased their target price on shares of Grocery Outlet from $28.00 to $26.00 and set an "overweight" rating for the company in a research report on Wednesday. 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 price objective 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, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Grocery Outlet currently has a consensus rating of "Hold" and an average target price of $19.73.

Grocery Outlet Stock Performance

NASDAQ GO traded up $0.75 during trading hours on Friday, hitting $15.05. The company had a trading volume of 3,442,909 shares, compared to its average volume of 1,798,509. The company has a quick ratio of 0.29, a current ratio of 1.29 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 price-to-earnings-growth ratio of 2.67 and a beta of 0.10. Grocery Outlet has a fifty-two week low of $13.60 and a fifty-two week high of $29.98. The business has a fifty day simple moving average of $16.81 and a 200-day simple moving average of $20.01.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GO. Vanguard Group Inc. increased its stake in Grocery Outlet by 0.7% during the first quarter. Vanguard Group Inc. now owns 9,333,850 shares of the company's stock valued at $268,628,000 after acquiring an additional 60,830 shares during the period. 12 West Capital Management LP increased its position in shares of Grocery Outlet by 383.3% during the first quarter. 12 West Capital Management LP now owns 3,625,000 shares of the company's stock valued at $104,328,000 after purchasing an additional 2,875,000 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Grocery Outlet by 22.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,613,617 shares of the company's stock valued at $79,933,000 after purchasing an additional 655,065 shares in the last quarter. Capital World Investors lifted its position in Grocery Outlet by 281.4% in the first quarter. Capital World Investors now owns 3,579,683 shares of the company's stock worth $103,023,000 after purchasing an additional 2,641,016 shares during the period. Finally, Van Berkom & Associates Inc. boosted its stake in Grocery Outlet by 21.1% during the second quarter. Van Berkom & Associates Inc. now owns 3,498,533 shares of the company's stock worth $77,388,000 after buying an additional 609,871 shares in the last quarter. 99.87% of the stock is owned by institutional investors.

Insider Transactions at Grocery Outlet

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

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.