Brokers Set Expectations for Grocery Outlet Q4 Earnings

Grocery Outlet Holding Corp. (NASDAQ:GO) – Research analysts at DA Davidson issued their Q4 2024 EPS estimates for shares of Grocery Outlet in a research report issued to clients and investors on Wednesday, November 6th. DA Davidson analyst M. Baker forecasts 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 $0.66 per share. DA Davidson also issued estimates for Grocery Outlet’s FY2025 earnings at $0.65 EPS.

Other research analysts have also recently issued reports about the company. Telsey Advisory Group decreased their price objective on Grocery Outlet from $19.00 to $18.00 and set a “market perform” rating on the stock in a report on Wednesday. TD Cowen downgraded Grocery Outlet from a “buy” rating to a “hold” rating and cut their price objective for the stock from $25.00 to $16.00 in a research report on Wednesday. Wells Fargo & Company reduced their price target on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock 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 note on Friday, November 1st. Finally, Bank of America downgraded Grocery Outlet from a “buy” rating to a “neutral” rating and cut their price objective for the company from $29.00 to $17.00 in a report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $18.17.

Grocery Outlet Price Performance

Shares of Grocery Outlet stock opened at $17.19 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.29. Grocery Outlet has a 12 month low of $13.60 and a 12 month high of $29.98. The stock has a market capitalization of $1.68 billion, a P/E ratio of 33.63, a PEG ratio of 3.42 and a beta of 0.13. The business has a 50 day simple moving average of $16.59 and a two-hundred day simple moving average of $19.72.

Grocery Outlet (NASDAQ:GO) last posted its earnings results on Tuesday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Grocery Outlet had a net margin of 1.30% and a return on equity of 5.18%. The business’s revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 EPS.

Insider Activity at Grocery Outlet

In related news, Director Eric J. Jr. Lindberg sold 100,000 shares of the firm’s stock in a transaction dated 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 owns 70,938 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of the business’s stock in a transaction dated 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 sale, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eric J. Jr. Lindberg sold 100,000 shares of the stock in a transaction dated 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 directly owns 70,938 shares of the company’s stock, valued at approximately $1,340,728.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 500,095 shares of company stock worth $8,876,548 in the last 90 days. 4.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quest Partners LLC acquired a new stake in Grocery Outlet during the 3rd quarter valued at $266,000. Thrivent Financial for Lutherans lifted its position in shares of Grocery Outlet by 5.9% in the third quarter. Thrivent Financial for Lutherans now owns 209,531 shares of the company’s stock valued at $3,677,000 after acquiring an additional 11,615 shares in the last quarter. Angeles Investment Advisors LLC boosted its stake in shares of Grocery Outlet by 18.5% during the third quarter. Angeles Investment Advisors LLC now owns 21,535 shares of the company’s stock valued at $378,000 after acquiring an additional 3,355 shares during the last quarter. Geneva Capital Management LLC increased its position in Grocery Outlet by 0.9% during the 3rd quarter. Geneva Capital Management LLC now owns 1,575,495 shares of the company’s stock worth $27,650,000 after purchasing an additional 13,561 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in Grocery Outlet by 23.2% in the 3rd quarter. Victory Capital Management Inc. now owns 915,119 shares of the company’s stock valued at $16,060,000 after purchasing an additional 172,050 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.