Grocery Outlet (NASDAQ:GO – Get Rating) is scheduled to be releasing its earnings data after the market closes on Tuesday, November 8th. Analysts expect Grocery Outlet to post earnings of $0.25 per share for the quarter. Grocery Outlet has set its FY 2022 guidance at $0.97-$1.00 EPS and its FY22 guidance at $0.97-1.00 EPS.Investors interested in registering for the company’s conference call can do so using this link.
Grocery Outlet (NASDAQ:GO – Get Rating) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. Grocery Outlet had a net margin of 1.69% and a return on equity of 8.57%. The company had revenue of $897.70 million during the quarter, compared to analysts’ expectations of $859.80 million. During the same period in the prior year, the business posted $0.22 earnings per share. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, analysts expect Grocery Outlet to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
Grocery Outlet Trading Down 0.3 %
Shares of GO traded down $0.10 during mid-day trading on Tuesday, reaching $34.47. The stock had a trading volume of 2,301 shares, compared to its average volume of 1,092,305. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.65 and a quick ratio of 0.42. Grocery Outlet has a 52-week low of $21.86 and a 52-week high of $46.37. The business’s fifty day moving average is $35.48 and its 200 day moving average is $38.13. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 61.73, a P/E/G ratio of 3.83 and a beta of -0.06.
Wall Street Analyst Weigh In
Several analysts recently weighed in on GO shares. Cowen raised their target price on shares of Grocery Outlet from $45.00 to $53.00 in a report on Wednesday, August 10th. Deutsche Bank Aktiengesellschaft raised their target price on Grocery Outlet from $48.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. Morgan Stanley downgraded Grocery Outlet from an “equal weight” rating to an “underweight” rating and lifted their price target for the stock from $29.00 to $33.00 in a research note on Tuesday, August 23rd. Telsey Advisory Group boosted their target price on shares of Grocery Outlet from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, August 10th. Finally, DA Davidson cut Grocery Outlet from a “buy” rating to a “neutral” rating and lifted their price target for the company from $36.00 to $43.00 in a report on Wednesday, July 6th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Grocery Outlet presently has an average rating of “Moderate Buy” and an average target price of $42.70.
Insider Buying and Selling
In other Grocery Outlet news, Director Thomas F. Herman sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $41.62, for a total value of $83,240.00. Following the sale, the director now owns 39,917 shares of the company’s stock, valued at approximately $1,661,345.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Steven K. Wilson sold 5,555 shares of Grocery Outlet stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $42.33, for a total value of $235,143.15. Following the completion of the sale, the senior vice president now directly owns 155,993 shares of the company’s stock, valued at approximately $6,603,183.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas F. Herman sold 2,000 shares of Grocery Outlet stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $41.62, for a total value of $83,240.00. Following the sale, the director now directly owns 39,917 shares of the company’s stock, valued at $1,661,345.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 286,560 shares of company stock valued at $11,126,487. Corporate insiders own 11.20% of the company’s stock.
Institutional Trading of Grocery Outlet
Institutional investors have recently modified their holdings of the company. Captrust Financial Advisors raised its holdings in Grocery Outlet by 58.1% during the second quarter. Captrust Financial Advisors now owns 762 shares of the company’s stock worth $32,000 after acquiring an additional 280 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Grocery Outlet by 3.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 451,916 shares of the company’s stock worth $19,265,000 after acquiring an additional 16,163 shares during the period. First Republic Investment Management Inc. grew its holdings in Grocery Outlet by 15.8% during the 2nd quarter. First Republic Investment Management Inc. now owns 43,576 shares of the company’s stock worth $1,858,000 after acquiring an additional 5,932 shares during the period. Prudential Financial Inc. grew its holdings in Grocery Outlet by 27.7% during the 2nd quarter. Prudential Financial Inc. now owns 8,728 shares of the company’s stock worth $372,000 after acquiring an additional 1,895 shares during the period. Finally, Macquarie Group Ltd. grew its stake in shares of Grocery Outlet by 66.7% in the 2nd quarter. Macquarie Group Ltd. now owns 210,487 shares of the company’s stock valued at $8,973,000 after buying an additional 84,196 shares during the period. 98.42% of the stock is currently owned by institutional investors.
Grocery Outlet Company Profile
Grocery Outlet Holding Corp. owns and operates a network of independently operated stores in the United States. The company’s stores offer products in various categories, such as dairy and deli, produce, floral, and fresh meat and seafood products, as well as grocery, general merchandise, health and beauty care, frozen foods, and beer and wine.