Equities analysts forecast that Grocery Outlet Holding Corp. (NYSE:GO) will announce $652.66 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Grocery Outlet’s earnings, with the lowest sales estimate coming in at $650.32 million and the highest estimate coming in at $655.00 million. The business is expected to announce its next earnings report on Monday, February 17th.
On average, analysts expect that Grocery Outlet will report full year sales of $2.56 billion for the current financial year, with estimates ranging from $2.55 billion to $2.56 billion. For the next financial year, analysts anticipate that the business will report sales of $2.90 billion, with estimates ranging from $2.90 billion to $2.91 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Grocery Outlet.
Grocery Outlet (NYSE:GO) last released its quarterly earnings results on Monday, November 11th. The company reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.03. The business had revenue of $652.50 million during the quarter, compared to analyst estimates of $652.60 million. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year.
Several equities analysts have recently commented on GO shares. Zacks Investment Research lowered Grocery Outlet from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd. Craig Hallum started coverage on Grocery Outlet in a report on Wednesday, January 29th. They set a “buy” rating and a $47.00 target price for the company. Finally, Morgan Stanley lowered their target price on Grocery Outlet from $39.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $41.20.
In other news, Director Thomas F. Herman sold 2,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $33.70, for a total transaction of $67,400.00. Following the completion of the sale, the director now owns 23,185 shares in the company, valued at approximately $781,334.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Charles Bracher sold 18,750 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $35.31, for a total value of $662,062.50. Following the completion of the sale, the chief financial officer now owns 60,840 shares of the company’s stock, valued at approximately $2,148,260.40. The disclosure for this sale can be found here. Insiders have sold a total of 55,638 shares of company stock valued at $1,978,559 in the last quarter.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blueshift Asset Management LLC boosted its holdings in Grocery Outlet by 35.3% during the fourth quarter. Blueshift Asset Management LLC now owns 32,547 shares of the company’s stock valued at $1,056,000 after acquiring an additional 8,489 shares during the period. Bank of America Corp DE boosted its holdings in Grocery Outlet by 198.7% during the fourth quarter. Bank of America Corp DE now owns 78,919 shares of the company’s stock valued at $2,561,000 after acquiring an additional 52,502 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in Grocery Outlet by 28.9% during the fourth quarter. UBS Asset Management Americas Inc. now owns 404,294 shares of the company’s stock valued at $13,119,000 after acquiring an additional 90,600 shares during the period. Marshall Wace LLP bought a new stake in Grocery Outlet during the fourth quarter valued at about $853,000. Finally, Bank of New York Mellon Corp boosted its holdings in Grocery Outlet by 50.3% during the fourth quarter. Bank of New York Mellon Corp now owns 592,496 shares of the company’s stock valued at $19,227,000 after acquiring an additional 198,222 shares during the period.
Grocery Outlet stock traded up $0.71 during midday trading on Tuesday, hitting $32.91. The stock had a trading volume of 613,700 shares, compared to its average volume of 1,092,452. Grocery Outlet has a 12 month low of $27.75 and a 12 month high of $47.57. The business has a fifty day moving average price of $32.98 and a 200 day moving average price of $34.64.
Grocery Outlet Company Profile
Grocery Outlet Holding Corp. owns and operates a chain of grocery stores in the United States. The company offers products in various categories, such as grocery, dairy and deli, produce, refrigerated and frozen, floral, beer and wine, general merchandise, and health and beauty care, as well as fresh meat and seafood; and natural, organic, specialty, and healthy products.
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