Grocery Outlet FY2024 EPS Forecast Reduced by Zacks Research

Grocery Outlet Holding Corp. (NASDAQ:GO) – Analysts at Zacks Research decreased their FY2024 earnings per share estimates for shares of Grocery Outlet in a research report issued 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 previous 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.

Grocery Outlet (NASDAQ:GO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 EPS.

Several other brokerages also recently issued reports on GO. Craig Hallum lowered their price objective on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Melius Research started coverage on shares of Grocery Outlet in a research report on Monday, September 23rd. They issued a “hold” rating and a $17.00 price objective on the stock. Wells Fargo & Company reduced their target price on shares of Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Loop Capital began coverage on shares of Grocery Outlet in a research note on Thursday, October 17th. They set a “hold” rating and a $17.00 price target on the stock. Finally, Roth Capital upgraded shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. One investment 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 company’s stock. According to data from MarketBeat.com, Grocery Outlet presently has an average rating of “Hold” and an average price target of $18.00.

Grocery Outlet Stock Performance

Shares of GO stock opened at $18.65 on Friday. The stock’s 50-day moving average is $16.76 and its two-hundred day moving average is $19.15. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. Grocery Outlet has a 1 year low of $13.60 and a 1 year high of $29.80. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 36.57, a PEG ratio of 4.65 and a beta of 0.13.

Hedge Funds Weigh In On Grocery Outlet

Several large investors have recently added to or reduced their stakes in GO. Capital World Investors lifted its position in Grocery Outlet by 281.4% in the 1st quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock valued at $103,023,000 after purchasing an additional 2,641,016 shares during the last quarter. Millennium Management LLC raised 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 buying an additional 1,726,741 shares during the last quarter. Solel Partners LP bought a new stake in Grocery Outlet during the 2nd quarter valued at $35,980,000. American Century Companies Inc. grew its holdings in 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 during the period. Finally, Point72 Asset Management L.P. lifted its holdings in 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 valued at $21,676,000 after acquiring an additional 759,697 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors.

Insider Transactions at Grocery Outlet

In related news, Director Eric J. Jr. Lindberg sold 200,095 shares of the company’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 directly owns 70,938 shares of the company’s stock, valued at $1,155,580.02. This represents a 73.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Erik D. Ragatz bought 110,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $18.25 per share, with a total value of $2,007,500.00. Following the transaction, the director now directly owns 539,785 shares in the company, valued at approximately $9,851,076.25. The trade was a 25.59 % increase in their position. The disclosure for this purchase can be found here. 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.