Analysts Set Grocery Outlet Holding Corp. (NASDAQ:GO) Target Price at $16.27

Grocery Outlet Holding Corp. (NASDAQ:GO) has been assigned a consensus recommendation of “Hold” from the thirteen analysts that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $15.7273.

Several brokerages recently issued reports on GO. Telsey Advisory Group cut Grocery Outlet from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 5th. Zacks Research raised shares of Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Grocery Outlet in a report on Wednesday, October 8th. Bank of America cut their price target on shares of Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Finally, UBS Group decreased their price objective on shares of Grocery Outlet from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th.

Grocery Outlet Stock Down 4.6%

Shares of NASDAQ GO opened at $11.59 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.30 and a quick ratio of 0.25. Grocery Outlet has a 1 year low of $10.26 and a 1 year high of $21.67. The stock has a market capitalization of $1.14 billion, a P/E ratio of -231.80, a P/E/G ratio of 1.97 and a beta of 0.33. The company has a 50-day moving average price of $15.69 and a 200-day moving average price of $15.09.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Grocery Outlet had a negative net margin of 0.10% and a positive return on equity of 5.86%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 EPS. Grocery Outlet has set its FY 2025 guidance at 0.780-0.80 EPS. On average, equities research analysts forecast that Grocery Outlet will post 0.63 EPS for the current fiscal year.

Insider Activity at Grocery Outlet

In related news, EVP Steven K. Wilson sold 25,000 shares of Grocery Outlet stock in a transaction on Friday, November 7th. The stock was sold at an average price of $12.53, for a total transaction of $313,250.00. Following the sale, the executive vice president directly owned 116,923 shares in the company, valued at approximately $1,465,045.19. This trade represents a 17.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

A number of hedge funds have recently made changes to their positions in GO. GAMMA Investing LLC boosted its holdings in shares of Grocery Outlet by 236.0% in the 1st quarter. GAMMA Investing LLC now owns 5,188 shares of the company’s stock worth $73,000 after buying an additional 3,644 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in Grocery Outlet in the first quarter valued at about $199,000. Principal Financial Group Inc. grew its position in shares of Grocery Outlet by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 482,178 shares of the company’s stock valued at $6,741,000 after acquiring an additional 11,080 shares during the period. D.A. Davidson & CO. purchased a new stake in shares of Grocery Outlet during the 1st quarter worth approximately $165,000. Finally, New York State Common Retirement Fund increased its stake in shares of Grocery Outlet by 49.4% during the 1st quarter. New York State Common Retirement Fund now owns 131,983 shares of the company’s stock worth $1,845,000 after purchasing an additional 43,633 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors.

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.