Grocery Outlet (GO) Stock Forecast, Price & News

10 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Grocery Outlet in the last year. There are currently 1 sell rating, 6 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" GO shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in GO, but not buy additional shares or sell existing shares.
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10 equities research analysts have issued 1 year price objectives for Grocery Outlet's shares. Their GO share price forecasts range from $27.00 to $40.00. On average, they predict the company's share price to reach $35.11 in the next twelve months. This suggests a possible upside of 23.6% from the stock's current price.
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Grocery Outlet's stock was trading at $29.19 at the beginning of 2023. Since then, GO stock has decreased by 2.7% and is now trading at $28.41.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 14th 2023.
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Grocery Outlet Holding Corp. (NASDAQ:GO) announced its earnings results on Tuesday, August, 8th. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.02. The firm earned $1.01 billion during the quarter, compared to the consensus estimate of $974.89 million. Grocery Outlet had a trailing twelve-month return on equity of 7.28% and a net margin of 1.87%.

ETFs with the largest weight of Grocery Outlet (NASDAQ:GO) stock in their portfolio include SPDR S&P Retail ETF (XRT), Direxion Daily Retail Bull 3X Shares (RETL), First Trust Consumer Staples AlphaDEX Fund (FXG), First Trust Horizon Managed Volatility Small/Mid ETF (HSMV), ETC 6 Meridian Low Beta Equity Strategy ETF (SIXL) and Etho Climate Leadership US ETF (ETHO).iShares U.S. Consumer Staples ETF (IYK).

Grocery Outlet issued an update on its FY 2023 earnings guidance on Tuesday, August, 8th. The company provided EPS guidance of $1.04-$1.08 for the period, compared to the consensus earnings per share estimate of $1.01. The company issued revenue guidance of $3.95 billion-$3.95 billion, compared to the consensus revenue estimate of $3.91 billion.

142 employees have rated Grocery Outlet Chief Executive Officer Eric Lindberg/ MacGregor Read on Glassdoor.com. Eric Lindberg/ MacGregor Read has an approval rating of 93% among the company's employees. This puts Eric Lindberg/ MacGregor Read in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

(GO) raised $275 million in an initial public offering (IPO) on Thursday, June 20th 2019. The company issued 17,200,000 shares at a price of $15.00-$17.00 per share. BofA Merrill Lynch, Morgan Stanley, Deutsche Bank Securities, Jefferies, Barclays, Goldman Sachs, Guggenheim Securities, UBS Investment Bank and Cowen served as the underwriters for the IPO and Telsey Advisory Group, Drexel Hamilton and Penserra Securities were co-managers.

Grocery Outlet trades on the NASDAQ under the ticker symbol "GO."

Grocery Outlet's stock is owned by a number of retail and institutional investors. Top institutional shareholders include Capital Research Global Investors (9.58%), BlackRock Inc. (8.94%), Jackson Square Partners LLC (5.74%), Alliancebernstein L.P. (5.68%), Mackenzie Financial Corp (4.82%) and Parnassus Investments LLC (4.56%). Insiders that own company stock include Brian Mcandrews, Charles Bracher, Eric J Jr Lindberg, Eric J Jr Lindberg, Erik D Ragatz, Heather L Mayo, Jeffrey York, Lindsay E Gray, Luke D Thompson, Pamela B Burke, Robert Joseph Jr Sheedy, S Macgregor Jr Read, Steven K Wilson, Steven K Wilson, Thomas F Herman, Thomas F Herman and Thomas H Mcmahon.
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Shares of GO stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of GO stock can currently be purchased for approximately $28.41.

Grocery Outlet (NASDAQ:GO) has a market capitalization of $2.81 billion and generates $3.58 billion in revenue each year. The company earns $65.05 million in net income (profit) each year or $0.71 on an earnings per share basis.

The company employs 864 workers across the globe.

Grocery Outlet's mailing address is 5650 HOLLIS STREET, EMERYVILLE CA, 94608. The official website for the company is www.groceryoutlet.com. The company can be reached via phone at (510) 845-1999 or via email at investor.relations@groceryoutlet.com.