Grocery Outlet (NASDAQ:GO) Reaches New 52-Week Low – Here’s What Happened

Grocery Outlet Holding Corp. (NASDAQ:GO)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $10.23 and last traded at $10.25, with a volume of 2237551 shares traded. The stock had previously closed at $10.40.

Analyst Ratings Changes

GO has been the topic of several analyst reports. Morgan Stanley raised shares of Grocery Outlet from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $13.00 to $16.00 in a research report on Wednesday, August 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Grocery Outlet in a report on Wednesday, October 8th. DA Davidson cut their price objective on Grocery Outlet from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Telsey Advisory Group cut Grocery Outlet from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 5th. Finally, TD Cowen lowered their price target on Grocery Outlet from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned 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 $15.73.

Grocery Outlet Stock Performance

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 firm has a 50 day moving average of $14.43 and a two-hundred day moving average of $14.77. The stock has a market cap of $1.04 billion, a P/E ratio of -211.40, a P/E/G ratio of 1.62 and a beta of 0.33.

Grocery Outlet (NASDAQ:GO) last issued its quarterly earnings results 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 analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 earnings per share. Grocery Outlet has set its FY 2025 guidance at 0.780-0.80 EPS. On average, research analysts predict that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Insider Activity

In other news, EVP Steven K. Wilson sold 25,000 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $12.53, for a total transaction of $313,250.00. Following the completion of the transaction, the executive vice president owned 116,923 shares of the company’s stock, valued at approximately $1,465,045.19. This represents a 17.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.50% of the company’s stock.

Institutional Trading of Grocery Outlet

Several institutional investors have recently modified their holdings of GO. CIBC Bancorp USA Inc. bought a new stake in shares of Grocery Outlet during the third quarter valued at approximately $162,000. Scientech Research LLC raised its stake in shares of Grocery Outlet by 63.4% in the 3rd quarter. Scientech Research LLC now owns 20,702 shares of the company’s stock valued at $332,000 after buying an additional 8,036 shares in the last quarter. Prosperity Wealth Management Inc. acquired a new position in shares of Grocery Outlet in the 3rd quarter valued at $305,000. Mariner LLC bought a new position in shares of Grocery Outlet during the 3rd quarter worth about $402,000. Finally, Millennium Management LLC boosted its position in shares of Grocery Outlet by 3,558.0% during the 3rd quarter. Millennium Management LLC now owns 1,825,407 shares of the company’s stock valued at $29,298,000 after acquiring an additional 1,775,505 shares in the last quarter. Institutional investors and hedge funds 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.