Grocery Outlet Holding Corp. (NASDAQ:GO) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Grocery Outlet Holding Corp. has been assigned an average recommendation of "Hold" by analysts, with one sell rating, nine hold ratings, and three buy ratings.
• Recent target price adjustments include Morgan Stanley raising it to $16.00, while Craig Hallum upgraded it to $17.00 and Wells Fargo increased theirs to $19.00.
• For its last quarter, Grocery Outlet reported an earnings per share (EPS) of $0.23, beating estimates, with a revenue of $1.18 billion that fell short of expectations.

Shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) have been assigned an average recommendation of "Hold" from the thirteen analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $16.0769.

A number of research analysts have recently commented on the company. Morgan Stanley raised Grocery Outlet from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $13.00 to $16.00 in a research report on Wednesday, August 6th. Telsey Advisory Group reiterated a "market perform" rating and set a $16.00 target price on shares of Grocery Outlet in a research note on Wednesday, August 6th. Craig Hallum upgraded Grocery Outlet from a "hold" rating to a "buy" rating and set a $17.00 target price on the stock in a research report on Wednesday, August 6th. Wells Fargo & Company lifted their target price on Grocery Outlet from $18.00 to $19.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Finally, UBS Group raised their price target on Grocery Outlet from $14.50 to $17.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th.

Grocery Outlet Stock Performance

Shares of NASDAQ GO opened at $18.43 on Thursday. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 263.32, a P/E/G ratio of 4.06 and a beta of 0.27. Grocery Outlet has a one year low of $10.26 and a one year high of $21.67. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.21 and a quick ratio of 0.25. The stock's fifty day moving average price is $14.41 and its two-hundred day moving average price is $14.35.

Grocery Outlet (NASDAQ:GO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Grocery Outlet had a return on equity of 6.34% and a net margin of 0.18%.The business's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. On average, equities analysts forecast that Grocery Outlet will post 0.63 EPS for the current year.

Insider Activity

In other Grocery Outlet news, EVP Steven K. Wilson sold 20,000 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $19.20, for a total transaction of $384,000.00. Following the completion of the transaction, the executive vice president owned 146,923 shares in the company, valued at $2,820,921.60. The trade was a 11.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Grocery Outlet

Hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Grocery Outlet in the 4th quarter valued at about $1,079,000. Sterling Capital Management LLC boosted its position in shares of Grocery Outlet by 53.9% during the 4th quarter. Sterling Capital Management LLC now owns 5,808 shares of the company's stock worth $91,000 after purchasing an additional 2,034 shares during the period. Guggenheim Capital LLC boosted its position in shares of Grocery Outlet by 9.1% during the 4th quarter. Guggenheim Capital LLC now owns 16,955 shares of the company's stock worth $265,000 after purchasing an additional 1,408 shares during the period. Jump Financial LLC purchased a new position in shares of Grocery Outlet during the 4th quarter worth approximately $704,000. Finally, Canada Pension Plan Investment Board grew its stake in shares of Grocery Outlet by 81.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company's stock worth $105,000 after acquiring an additional 3,000 shares in the last quarter. 99.87% of the stock is owned by institutional investors and hedge funds.

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.

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