Grocery Outlet (NASDAQ:GO) Announces Earnings Results

Grocery Outlet (NASDAQ:GO) issued its quarterly earnings results on Tuesday. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02, Zacks reports. Grocery Outlet had a negative net margin of 0.10% and a positive return on equity of 5.88%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the firm earned $0.28 earnings per share. The business’s revenue for the quarter 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 Price Performance

Shares of GO traded down $0.58 during mid-day trading on Thursday, reaching $12.46. 1,753,454 shares of the stock traded hands, compared to its average volume of 3,146,569. Grocery Outlet has a 1 year low of $10.26 and a 1 year high of $21.67. The company has a current ratio of 1.21, a quick ratio of 0.25 and a debt-to-equity ratio of 0.38. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -250.70, a price-to-earnings-growth ratio of 2.99 and a beta of 0.33. The firm has a fifty day moving average price of $16.06 and a 200 day moving average price of $15.18.

Insiders Place Their Bets

In other Grocery Outlet news, EVP Steven K. Wilson sold 5,000 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $18.24, for a total value of $91,200.00. Following the completion of the sale, the executive vice president directly owned 141,923 shares of the company’s stock, valued at $2,588,675.52. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Grocery Outlet

Several large investors have recently modified their holdings of GO. Headlands Technologies LLC raised its position in 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 acquiring an additional 21,288 shares during the period. Rafferty Asset Management LLC increased its position in Grocery Outlet by 7.4% during the second 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 acquired a new stake in Grocery Outlet during the second quarter worth about $535,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Grocery Outlet during the second quarter worth about $645,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Grocery Outlet by 207.8% during the second quarter. The Manufacturers Life Insurance Company now owns 47,350 shares of the company’s stock worth $588,000 after buying an additional 31,968 shares during the period. Institutional investors own 99.87% of the company’s stock.

Analyst Upgrades and Downgrades

GO has been the subject of a number of research reports. Zacks Research upgraded Grocery Outlet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. DA Davidson dropped their price objective on Grocery Outlet from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday. Bank of America lowered their target price on Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday. Morgan Stanley upgraded Grocery Outlet from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $13.00 to $16.00 in a research report on Wednesday, August 6th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Grocery Outlet in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.73.

About Grocery Outlet

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.