Grocery Outlet (NASDAQ:GO) Hits New 12-Month Low – Here’s What Happened

Grocery Outlet Holding Corp. (NASDAQ:GO) hit a new 52-week low during trading on Tuesday . The stock traded as low as $10.19 and last traded at $10.20, with a volume of 2433520 shares trading hands. The stock had previously closed at $10.56.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Grocery Outlet in a research report on Wednesday, October 8th. Morgan Stanley decreased their target price on shares of Grocery Outlet from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Thursday, December 4th. UBS Group cut their price target on shares of Grocery Outlet from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. DA Davidson restated a “neutral” rating and issued a $15.00 price target on shares of Grocery Outlet in a research report on Thursday, December 4th. Finally, Bank of America lowered their price objective on shares of Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Grocery Outlet has a consensus rating of “Hold” and a consensus price target of $15.55.

Grocery Outlet Price Performance

The stock has a market capitalization of $1.00 billion, a PE ratio of -203.80, a P/E/G ratio of 1.72 and a beta of 0.47. The company has a quick ratio of 0.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.40. The stock’s 50-day moving average is $12.80 and its 200 day moving average is $14.44.

Grocery Outlet (NASDAQ:GO) last issued its earnings results on Tuesday, November 4th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. Grocery Outlet had a negative net margin of 0.10% and a positive return on equity of 5.86%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the business posted $0.28 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Grocery Outlet has set its FY 2025 guidance at 0.780-0.80 EPS. As a group, equities analysts predict that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

Insider Buying and Selling

In other Grocery Outlet news, EVP Steven K. Wilson sold 25,000 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $12.53, for a total value of $313,250.00. Following the transaction, the executive vice president directly owned 116,923 shares of the company’s stock, valued at $1,465,045.19. This represents a 17.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Grocery Outlet

Hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in Grocery Outlet by 32.3% during the second quarter. PNC Financial Services Group Inc. now owns 2,942 shares of the company’s stock valued at $37,000 after purchasing an additional 719 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Grocery Outlet by 1.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 72,087 shares of the company’s stock worth $895,000 after buying an additional 739 shares during the period. Bank of Montreal Can grew its stake in Grocery Outlet by 5.1% in the 2nd quarter. Bank of Montreal Can now owns 16,525 shares of the company’s stock valued at $205,000 after buying an additional 803 shares during the last quarter. Amalgamated Bank raised its holdings in Grocery Outlet by 3.5% in the 3rd quarter. Amalgamated Bank now owns 28,875 shares of the company’s stock worth $463,000 after acquiring an additional 967 shares during the period. Finally, US Bancorp DE raised its holdings in Grocery Outlet by 64.2% in the 1st quarter. US Bancorp DE now owns 3,024 shares of the company’s stock worth $42,000 after acquiring an additional 1,182 shares during the period. Institutional investors and hedge funds own 99.87% of the company’s stock.

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.