Q3 EPS Estimates for Grocery Outlet Increased by Analyst

Grocery Outlet Holding Corp. (NASDAQ:GO) – Telsey Advisory Group increased their Q3 2024 earnings per share (EPS) estimates for Grocery Outlet in a research report issued to clients and investors on Wednesday, October 30th. Telsey Advisory Group analyst J. Feldman now expects that the company will earn $0.21 per share for the quarter, up from their previous forecast of $0.20. Telsey Advisory Group has a “Market Perform” rating and a $19.00 price target on the stock. The consensus estimate for Grocery Outlet’s current full-year earnings is $0.68 per share. Telsey Advisory Group also issued estimates for Grocery Outlet’s Q4 2024 earnings at $0.18 EPS, FY2024 earnings at $0.62 EPS, Q2 2025 earnings at $0.22 EPS, Q3 2025 earnings at $0.22 EPS, Q4 2025 earnings at $0.18 EPS and FY2025 earnings at $0.76 EPS.

Other equities research analysts have also recently issued research reports about the stock. Melius Research initiated coverage on shares of Grocery Outlet in a research report on Monday, September 23rd. They issued a “hold” rating and a $17.00 price target on the stock. Roth Mkm reduced their target price on Grocery Outlet from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Craig Hallum lowered Grocery Outlet from a “buy” rating to a “hold” rating and lowered their price target for the company from $32.00 to $20.00 in a report on Wednesday, July 31st. The Goldman Sachs Group reduced their price objective on Grocery Outlet from $17.00 to $15.00 and set a “sell” rating on the stock in a report on Friday. Finally, Roth Capital upgraded Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.73.

Grocery Outlet Price Performance

NASDAQ 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 company’s 50 day moving average is $16.81 and its two-hundred day moving average is $20.01. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 2.67 and a beta of 0.10. Grocery Outlet has a 12 month low of $13.60 and a 12 month high of $29.98.

Grocery Outlet (NASDAQ:GO) last issued its earnings results 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. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.10 billion. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. Grocery Outlet’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.23 EPS.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GO. State of Michigan Retirement System boosted its position in shares of Grocery Outlet by 2.5% in the first quarter. State of Michigan Retirement System now owns 24,380 shares of the company’s stock worth $702,000 after buying an additional 600 shares during the period. Blue Trust Inc. boosted its holdings in Grocery Outlet by 76.6% during the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Grocery Outlet in the first quarter valued at about $25,000. Texas Permanent School Fund Corp increased its stake in shares of Grocery Outlet by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 86,879 shares of the company’s stock worth $2,500,000 after purchasing an additional 1,126 shares during the period. Finally, Swiss National Bank lifted its position in shares of Grocery Outlet by 0.6% during the 1st quarter. Swiss National Bank now owns 186,100 shares of the company’s stock worth $5,356,000 after purchasing an additional 1,200 shares during the last quarter. Institutional investors own 99.87% of the company’s stock.

Insider Buying and Selling at Grocery Outlet

In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 70,938 shares of the company’s stock, valued at $1,155,580.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other 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 transaction, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $18.44, for a total transaction of $1,844,000.00. Following the completion of the transaction, the director now owns 70,938 shares of the company’s stock, valued at $1,308,096.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 500,095 shares of company stock valued at $8,876,548. Corporate insiders own 4.50% 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.