Brokerages Set Grocery Outlet Holding Corp. (NASDAQ:GO) PT at $16.08

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO) have been assigned a consensus recommendation of “Hold” from the thirteen brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $16.0769.

A number of analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Grocery Outlet from $14.50 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Morgan Stanley raised Grocery Outlet from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $13.00 to $16.00 in a report on Wednesday, August 6th. Wells Fargo & Company boosted their price target on Grocery Outlet from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Telsey Advisory Group restated a “market perform” rating and set a $16.00 price objective on shares of Grocery Outlet in a research report on Wednesday, August 6th. Finally, Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Wednesday, August 6th.

Grocery Outlet Stock Performance

GO opened at $18.50 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.25 and a current ratio of 1.21. Grocery Outlet has a 52-week low of $10.26 and a 52-week high of $21.67. The firm has a market cap of $1.81 billion, a P/E ratio of 264.32, a price-to-earnings-growth ratio of 4.07 and a beta of 0.27. The business’s fifty day moving average is $14.94 and its 200-day moving average is $14.40.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Grocery Outlet had a return on equity of 6.34% and a net margin of 0.18%.The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the firm earned $0.25 earnings per share. Grocery Outlet’s revenue for the quarter was up 4.5% compared to the same quarter last year. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. Sell-side analysts expect that Grocery Outlet will post 0.63 EPS for the current fiscal year.

Insider Transactions at Grocery Outlet

In related news, EVP Steven K. Wilson sold 20,000 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $19.20, for a total value of $384,000.00. Following the completion of the transaction, the executive vice president owned 146,923 shares of the company’s stock, valued at $2,820,921.60. This represents a 11.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans boosted its holdings in shares of Grocery Outlet by 1.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 72,087 shares of the company’s stock valued at $895,000 after acquiring an additional 739 shares in the last quarter. Caxton Associates LLP bought a new position in Grocery Outlet in the second quarter valued at about $534,000. Public Sector Pension Investment Board boosted its stake in shares of Grocery Outlet by 8.5% during the second quarter. Public Sector Pension Investment Board now owns 334,224 shares of the company’s stock valued at $4,151,000 after purchasing an additional 26,136 shares in the last quarter. Headlands Technologies LLC grew its holdings in shares of Grocery Outlet by 289.8% during the second quarter. Headlands Technologies LLC now owns 28,635 shares of the company’s stock worth $356,000 after purchasing an additional 21,288 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of Grocery Outlet by 1.7% in the second quarter. CANADA LIFE ASSURANCE Co now owns 115,509 shares of the company’s stock valued at $1,435,000 after buying an additional 1,957 shares during the period. 99.87% of the stock is currently owned by institutional investors and hedge funds.

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.