TD Cowen Cuts Grocery Outlet (NASDAQ:GO) Price Target to $16.00

Grocery Outlet (NASDAQ:GO) had its target price lowered by TD Cowen from $18.00 to $16.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other equities analysts also recently commented on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grocery Outlet in a report on Wednesday, October 8th. Craig Hallum upgraded shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Wednesday, August 6th. Zacks Research raised Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 16th. DA Davidson decreased their price target on Grocery Outlet from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Telsey Advisory Group cut Grocery Outlet from an “outperform” rating to a “market perform” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.73.

Grocery Outlet Price Performance

Shares of GO opened at $12.15 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.25 and a current ratio of 1.30. The company has a 50-day simple moving average of $15.82 and a 200-day simple moving average of $15.13. Grocery Outlet has a 52 week low of $10.26 and a 52 week high of $21.67. The firm has a market capitalization of $1.19 billion, a P/E ratio of -243.00, a P/E/G ratio of 2.02 and a beta of 0.33.

Grocery Outlet (NASDAQ:GO) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.21 EPS for the quarter, topping 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%.The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company earned $0.28 EPS. Grocery Outlet has set its FY 2025 guidance at 0.780-0.80 EPS. On average, equities research analysts expect that Grocery Outlet will post 0.63 earnings per share for the current year.

Insider Activity

In other Grocery Outlet news, EVP Steven K. Wilson sold 5,000 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $18.24, for a total transaction of $91,200.00. Following the sale, the executive vice president owned 141,923 shares of the company’s stock, valued at $2,588,675.52. This represents a 3.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Grocery Outlet by 5.8% in the first quarter. Vanguard Group Inc. now owns 10,717,454 shares of the company’s stock valued at $149,830,000 after buying an additional 582,822 shares during the period. Marshall Wace LLP grew its holdings in Grocery Outlet by 0.9% during the 2nd quarter. Marshall Wace LLP now owns 4,556,552 shares of the company’s stock worth $56,592,000 after acquiring an additional 40,977 shares during the period. Van Berkom & Associates Inc. raised its position in shares of Grocery Outlet by 16.9% during the 3rd quarter. Van Berkom & Associates Inc. now owns 3,757,022 shares of the company’s stock valued at $60,300,000 after acquiring an additional 543,535 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Grocery Outlet by 1,577.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,262,956 shares of the company’s stock valued at $45,617,000 after purchasing an additional 3,068,405 shares during the period. Finally, Wellington Management Group LLP bought a new position in shares of Grocery Outlet in the 1st quarter worth $43,509,000. Institutional investors own 99.87% of the company’s stock.

Grocery Outlet Company Profile

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.