Grocery Outlet (NASDAQ:GO) Releases Earnings Results, Beats Estimates By $0.02 EPS

Grocery Outlet (NASDAQ:GO) posted its quarterly earnings data on Tuesday. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02, Zacks reports. Grocery Outlet had a net margin of 0.18% and a return on equity of 6.34%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the company posted $0.28 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Grocery Outlet updated its FY 2025 guidance to 0.780-0.80 EPS.

Grocery Outlet Stock Down 0.5%

Shares of GO stock opened at $14.17 on Wednesday. Grocery Outlet has a one year low of $10.26 and a one year high of $21.67. The stock has a market cap of $1.39 billion, a P/E ratio of 202.46, a price-to-earnings-growth ratio of 3.01 and a beta of 0.33. The stock has a fifty day moving average price of $16.17 and a 200 day moving average price of $15.19. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.21 and a quick ratio of 0.25.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Morgan Stanley raised shares of Grocery Outlet from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $13.00 to $16.00 in a research note on Wednesday, August 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grocery Outlet in a research note on Wednesday, October 8th. Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a report on Wednesday, August 6th. Telsey Advisory Group upgraded Grocery Outlet from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $16.00 to $20.00 in a report on Wednesday, October 1st. Finally, Zacks Research upgraded Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.27.

Insider Buying and Selling at Grocery Outlet

In other news, EVP Steven K. Wilson sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $18.24, for a total value of $91,200.00. Following the sale, the executive vice president directly owned 141,923 shares in the company, valued at approximately $2,588,675.52. This represents a 3.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC raised its holdings in Grocery Outlet by 289.8% during the 2nd 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. Rafferty Asset Management LLC raised its holdings in Grocery Outlet by 7.4% during the 2nd quarter. Rafferty Asset Management LLC now owns 27,017 shares of the company’s stock worth $336,000 after purchasing an additional 1,852 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in Grocery Outlet during the 2nd quarter worth about $535,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Grocery Outlet during the 2nd quarter worth about $645,000. Finally, The Manufacturers Life Insurance Company raised its holdings in Grocery Outlet by 207.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 47,350 shares of the company’s stock worth $588,000 after purchasing an additional 31,968 shares during the last quarter. 99.87% of the stock is 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.