Grocery Outlet (NYSE:GO) posted its quarterly earnings data on Monday. The company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.03, Briefing.com reports. The business had revenue of $652.50 million during the quarter, compared to analysts’ expectations of $652.60 million. Grocery Outlet’s quarterly revenue was up 13.1% compared to the same quarter last year. Grocery Outlet updated its FY19 guidance to $0.73-$0.74 EPS.

Shares of NYSE GO traded up $0.55 during trading on Wednesday, reaching $33.15. 184,180 shares of the stock traded hands, compared to its average volume of 780,896. Grocery Outlet has a 52-week low of $27.75 and a 52-week high of $47.57. The firm has a 50-day moving average of $32.92.

In related news, Vice Chairman S. Macgregor Jr. Read sold 350,000 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $32.72, for a total transaction of $11,452,000.00. Also, CAO Pamela B. Burke sold 26,470 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $32.72, for a total value of $866,098.40. Insiders have sold a total of 12,119,742 shares of company stock worth $396,557,958 in the last ninety days.

A number of research analysts have recently commented on the company. Barclays reaffirmed a “hold” rating and set a $37.00 price target on shares of Grocery Outlet in a research report on Thursday, August 15th. Deutsche Bank upped their price target on Grocery Outlet from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Jefferies Financial Group set a $51.00 price target on Grocery Outlet and gave the company a “buy” rating in a research report on Tuesday, October 8th. Cowen reaffirmed an “outperform” rating and set a $48.00 price target (up previously from $42.00) on shares of Grocery Outlet in a research report on Wednesday, August 14th. Finally, Zacks Investment Research cut Grocery Outlet from a “buy” rating to a “hold” rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Grocery Outlet presently has an average rating of “Hold” and an average price target of $39.89.

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. owns and operates a chain of grocery stores in the United States. The company offers products in various categories, such as grocery, dairy and deli, produce, refrigerated and frozen, floral, beer and wine, general merchandise, and health and beauty care, as well as fresh meat and seafood; and natural, organic, specialty, and healthy products.

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