Grocery Outlet (NASDAQ:GO) Hits New 12-Month Low – Here’s Why

Grocery Outlet Holding Corp. (NASDAQ:GO)’s share price reached a new 52-week low on Thursday . The stock traded as low as $10.23 and last traded at $10.25, with a volume of 2237551 shares changing hands. The stock had previously closed at $10.40.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GO shares. Morgan Stanley raised Grocery Outlet from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $13.00 to $16.00 in a research report on Wednesday, August 6th. TD Cowen decreased their price target on shares of Grocery Outlet from $18.00 to $16.00 and set a “hold” rating for the company in a research note on Wednesday, November 5th. Bank of America dropped their price objective on shares of Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Telsey Advisory Group downgraded shares of Grocery Outlet from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 5th. Finally, UBS Group dropped their price target on Grocery Outlet from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Grocery Outlet currently has a consensus rating of “Hold” and an average target price of $15.73.

Grocery Outlet Price Performance

The company has a market cap of $1.01 billion, a price-to-earnings ratio of -205.00, a PEG ratio of 1.75 and a beta of 0.33. The company’s 50 day moving average price is $14.72 and its 200 day moving average price is $14.84. The company has a current ratio of 1.30, a quick ratio of 0.25 and a debt-to-equity ratio of 0.40.

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

Insider Buying and Selling at Grocery Outlet

In other Grocery Outlet news, EVP Steven K. Wilson sold 25,000 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $12.53, for a total value of $313,250.00. Following the completion of the sale, the executive vice president owned 116,923 shares of the company’s stock, valued at approximately $1,465,045.19. This trade represents a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Grocery Outlet

A number of large investors have recently made changes to their positions in the stock. Parallel Advisors LLC lifted its position in shares of Grocery Outlet by 213.5% during the 2nd quarter. Parallel Advisors LLC now owns 2,025 shares of the company’s stock valued at $25,000 after acquiring an additional 1,379 shares during the period. Bayforest Capital Ltd acquired a new position in Grocery Outlet during the third quarter worth $29,000. Hantz Financial Services Inc. boosted its position in Grocery Outlet by 591.5% during the third quarter. Hantz Financial Services Inc. now owns 2,033 shares of the company’s stock worth $33,000 after purchasing an additional 1,739 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Grocery Outlet by 32.3% in the second quarter. PNC Financial Services Group Inc. now owns 2,942 shares of the company’s stock valued at $37,000 after buying an additional 719 shares in the last quarter. Finally, US Bancorp DE raised its stake in shares of Grocery Outlet by 64.2% during the 1st quarter. US Bancorp DE now owns 3,024 shares of the company’s stock worth $42,000 after buying an additional 1,182 shares during the last quarter. Hedge funds and other institutional investors 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.