Grocery Outlet Holding Corp. (NASDAQ:GO – Get Rating) – Stock analysts at DA Davidson issued their Q2 2022 earnings per share estimates for shares of Grocery Outlet in a research report issued on Wednesday, May 11th. DA Davidson analyst M. Baker forecasts that the company will earn $0.24 per share for the quarter. DA Davidson also issued estimates for Grocery Outlet’s FY2023 earnings at $1.15 EPS.
GO has been the topic of several other reports. Cowen boosted their target price on Grocery Outlet from $30.00 to $32.00 in a research note on Thursday, March 3rd. Bank of America raised shares of Grocery Outlet from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $23.00 to $37.00 in a research report on Friday, April 29th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft raised shares of Grocery Outlet from a “hold” rating to a “buy” rating and raised their target price for the stock from $29.00 to $40.00 in a research report on Wednesday. TheStreet raised shares of Grocery Outlet from a “d+” rating to a “c-” rating in a research note on Friday, February 25th. Finally, Craig Hallum upgraded shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, Grocery Outlet currently has a consensus rating of “Hold” and a consensus price target of $32.70.
Grocery Outlet (NASDAQ:GO – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. The firm had revenue of $831.40 million during the quarter, compared to the consensus estimate of $810.39 million. Grocery Outlet had a net margin of 2.02% and a return on equity of 8.98%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 earnings per share.
Large investors have recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new position in Grocery Outlet during the third quarter valued at approximately $36,000. Advisor Group Holdings Inc. raised its stake in Grocery Outlet by 51.3% during the 1st quarter. Advisor Group Holdings Inc. now owns 5,508 shares of the company’s stock valued at $192,000 after buying an additional 1,868 shares during the last quarter. Lombard Odier Asset Management USA Corp bought a new position in shares of Grocery Outlet during the 4th quarter valued at $202,000. ProShare Advisors LLC purchased a new position in shares of Grocery Outlet in the 4th quarter worth $223,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Grocery Outlet in the fourth quarter worth $229,000. 96.41% of the stock is currently owned by hedge funds and other institutional investors.
In other Grocery Outlet news, insider Brian Mcandrews sold 10,000 shares of Grocery Outlet stock in a transaction dated Friday, March 4th. The shares were sold at an average price of $29.26, for a total value of $292,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas F. Herman sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $34.07, for a total transaction of $68,140.00. Following the completion of the transaction, the director now owns 43,517 shares in the company, valued at approximately $1,482,624.19. The disclosure for this sale can be found here. Over the last three months, insiders sold 130,980 shares of company stock worth $4,318,598. Insiders own 11.80% of the company’s stock.
About Grocery Outlet (Get Rating)
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.
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