Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) shares traded down 5.1% during trading on Monday . The stock traded as low as $17.09 and last traded at $16.87. 948,431 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 3,166,111 shares. The stock had previously closed at $17.77.
Analyst Upgrades and Downgrades
Several analysts have commented on the company. Craig Hallum upgraded Grocery Outlet from a "hold" rating to a "buy" rating and set a $17.00 price target for the company in a 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 report on Wednesday, August 6th. Finally, Morgan Stanley upgraded Grocery Outlet from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $13.00 to $16.00 in a report on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $16.08.
Check Out Our Latest Research Report on Grocery Outlet
Grocery Outlet Stock Down 2.5%
The firm has a 50-day moving average of $16.51 and a 200 day moving average of $14.71. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 236.46, a price-to-earnings-growth ratio of 3.63 and a beta of 0.32. The company has a current ratio of 1.21, a quick ratio of 0.25 and a debt-to-equity ratio of 0.38.
Grocery Outlet (NASDAQ:GO - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. Grocery Outlet had a return on equity of 6.34% and a net margin of 0.18%.The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the company posted $0.25 EPS. Grocery Outlet's revenue for the quarter was up 4.5% on a year-over-year basis. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. On average, sell-side analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.
Insider Activity
In other Grocery Outlet news, EVP Steven K. Wilson sold 20,000 shares of the company'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 value of $384,000.00. Following the transaction, the executive vice president directly owned 146,923 shares of the company's stock, valued at $2,820,921.60. This represents a 11.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.50% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Grocery Outlet
Institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC raised its position in shares of Grocery Outlet by 213.5% during the 2nd quarter. Parallel Advisors LLC now owns 2,025 shares of the company's stock valued at $25,000 after acquiring an additional 1,379 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Grocery Outlet by 32.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,942 shares of the company's stock valued at $37,000 after acquiring an additional 719 shares in the last quarter. US Bancorp DE raised its position in shares of Grocery Outlet by 64.2% during the 1st quarter. US Bancorp DE now owns 3,024 shares of the company's stock valued at $42,000 after acquiring an additional 1,182 shares in the last quarter. AlphaQuest LLC raised its position in shares of Grocery Outlet by 327.7% during the 2nd quarter. AlphaQuest LLC now owns 5,761 shares of the company's stock valued at $72,000 after acquiring an additional 4,414 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Grocery Outlet by 236.0% during the 1st quarter. GAMMA Investing LLC now owns 5,188 shares of the company's stock valued at $73,000 after acquiring an additional 3,644 shares in the last quarter. 99.87% of the stock is owned by institutional investors and hedge funds.
About Grocery Outlet
(
Get Free Report)
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.
Further Reading
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