Q4 EPS Estimates for Grocery Outlet Lifted by DA Davidson

Grocery Outlet Holding Corp. (NASDAQ:GO) – Equities researchers at DA Davidson upped their Q4 2024 earnings per share estimates for shares of Grocery Outlet in a research note issued on Friday, February 14th. DA Davidson analyst M. Baker now expects that the company will earn $0.13 per share for the quarter, up from their prior forecast of $0.12. The consensus estimate for Grocery Outlet’s current full-year earnings is $0.63 per share.

Several other analysts have also issued reports on the company. Telsey Advisory Group reissued a “market perform” rating and set a $18.00 target price on shares of Grocery Outlet in a report on Wednesday, January 22nd. TD Cowen lowered Grocery Outlet from a “buy” rating to a “hold” rating and reduced their target price for the stock from $25.00 to $16.00 in a report on Wednesday, November 6th. UBS Group reduced their target price on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Bank of America lowered Grocery Outlet from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $29.00 to $17.00 in a report on Wednesday, October 30th. Finally, Wells Fargo & Company reduced their target price on Grocery Outlet from $26.00 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $18.00.

Grocery Outlet Stock Performance

Shares of NASDAQ GO opened at $16.05 on Monday. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 31.47, a P/E/G ratio of 18.37 and a beta of 0.32. Grocery Outlet has a one year low of $13.60 and a one year high of $29.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.33. The stock’s fifty day moving average price is $16.51 and its two-hundred day moving average price is $17.30.

Hedge Funds Weigh In On Grocery Outlet

Large investors have recently bought and sold shares of the company. Simcoe Capital Management LLC bought a new position in shares of Grocery Outlet during the fourth quarter worth about $53,185,000. Junto Capital Management LP acquired a new stake in Grocery Outlet during the fourth quarter worth approximately $39,128,000. Freestone Grove Partners LP acquired a new stake in Grocery Outlet during the fourth quarter worth approximately $13,602,000. FPR Partners LLC grew its stake in Grocery Outlet by 15.2% during the fourth quarter. FPR Partners LLC now owns 5,991,474 shares of the company’s stock worth $93,527,000 after purchasing an additional 791,474 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in Grocery Outlet by 159.8% during the third quarter. Point72 Asset Management L.P. now owns 1,235,078 shares of the company’s stock worth $21,676,000 after purchasing an additional 759,697 shares during the period. 99.87% of the stock is currently owned by institutional investors.

About Grocery Outlet

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.