Grocery Outlet (NASDAQ:GO) Research Coverage Started at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft began coverage on shares of Grocery Outlet (NASDAQ:GO) in a report released on Thursday morning, MarketBeat.com reports. The brokerage issued a hold rating on the stock.

Several other analysts have also commented on the stock. 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 report on Wednesday, November 5th. Weiss Ratings restated a “sell (d)” rating on shares of Grocery Outlet in a research report on Wednesday, October 8th. Morgan Stanley cut their price target on Grocery Outlet from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, December 4th. Wells Fargo & Company lowered their price target on Grocery Outlet from $19.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, December 19th. Finally, Bank of America cut their price objective on Grocery Outlet from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.77.

Grocery Outlet Price Performance

Grocery Outlet stock opened at $9.55 on Thursday. The business’s 50-day moving average price is $10.85 and its 200 day moving average price is $13.97. 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 firm has a market cap of $937.24 million, a price-to-earnings ratio of -191.00, a price-to-earnings-growth ratio of 1.52 and a beta of 0.47. Grocery Outlet has a 52 week low of $8.96 and a 52 week high of $19.41.

Grocery Outlet (NASDAQ:GO) last announced its quarterly 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. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. Grocery Outlet had a positive return on equity of 5.86% and a negative net margin of 0.10%.Grocery Outlet’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. Grocery Outlet has set its FY 2025 guidance at 0.780-0.80 EPS. As a group, sell-side analysts anticipate that Grocery Outlet will post 0.63 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Grocery Outlet

A number of large investors have recently made changes to their positions in the stock. Parallel Advisors LLC lifted its position in Grocery Outlet by 213.5% during the second quarter. Parallel Advisors LLC now owns 2,025 shares of the company’s stock worth $25,000 after buying an additional 1,379 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in shares of Grocery Outlet in the 3rd quarter worth $29,000. Hantz Financial Services Inc. raised its holdings in shares of Grocery Outlet by 591.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,033 shares of the company’s stock worth $33,000 after acquiring an additional 1,739 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Grocery Outlet by 32.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,942 shares of the company’s stock valued at $37,000 after acquiring an additional 719 shares during the last quarter. Finally, AlphaQuest LLC boosted its position in shares of Grocery Outlet by 327.7% during the 2nd quarter. AlphaQuest LLC now owns 5,761 shares of the company’s stock valued at $72,000 after acquiring an additional 4,414 shares during the last quarter. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

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.