Grocery Outlet (NASDAQ:GO) Issues Earnings Results, Misses Estimates By $0.02 EPS

Grocery Outlet (NASDAQ:GO) announced its quarterly earnings data on Wednesday. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.02), FiscalAI reports. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Grocery Outlet had a positive return on equity of 5.86% and a negative net margin of 0.10%.

Grocery Outlet Stock Down 0.9%

Shares of NASDAQ GO traded down $0.08 during mid-day trading on Wednesday, hitting $8.79. The company had a trading volume of 5,104,948 shares, compared to its average volume of 2,358,647. The company has a market capitalization of $862.65 million, a PE ratio of -175.80, a price-to-earnings-growth ratio of 1.88 and a beta of 0.50. The company has a current ratio of 1.30, a quick ratio of 0.25 and a debt-to-equity ratio of 0.40. Grocery Outlet has a one year low of $8.73 and a one year high of $19.41. The firm has a 50-day simple moving average of $9.82 and a two-hundred day simple moving average of $12.77.

Institutional Trading of Grocery Outlet

Large investors have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd increased its position in Grocery Outlet by 1,030.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,532 shares of the company’s stock valued at $26,000 after purchasing an additional 2,308 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of Grocery Outlet during the fourth quarter valued at approximately $35,000. State of Wyoming increased its stake in shares of Grocery Outlet by 96.9% during the 4th quarter. State of Wyoming now owns 7,886 shares of the company’s stock worth $80,000 after purchasing an additional 3,880 shares during the last quarter. Shay Capital LLC purchased a new stake in Grocery Outlet during the third quarter valued at about $160,000. Finally, Olympiad Research LP purchased a new position in shares of Grocery Outlet in the fourth quarter valued at $101,000. 99.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on GO. TD Cowen dropped their price target on shares of Grocery Outlet from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Wednesday, November 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Grocery Outlet in a research report on Thursday, January 22nd. The Goldman Sachs Group cut their price objective on Grocery Outlet from $12.00 to $9.00 and set a “sell” rating on the stock in a research note on Thursday, February 19th. DA Davidson reaffirmed a “neutral” rating and set a $15.00 target price on shares of Grocery Outlet in a research report on Thursday, December 4th. Finally, Bank of America lowered their price target on Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $13.64.

About Grocery Outlet

Grocery Outlet Holding Corp. (NASDAQ: GO) is a specialty discount retailer that offers consumers deeply discounted groceries by purchasing excess inventory, closeouts, and overstocks from manufacturers and distributors. Headquartered in Emeryville, California, the company operates two primary banners—Grocery Outlet and Fresh2Go—with a combined footprint of more than 400 stores. Its product assortment spans fresh produce, meat, dairy, bakery items, household staples, natural and organic offerings, and select specialty products, all sold at significant markdowns compared to conventional supermarkets.

The company’s unique buying model enables it to source inventory through opportunistic purchases of surplus freight, discontinued items, and closeout deals, which it then passes on as savings to its customers.