Grocery Outlet Holding Corp. to Post Q3 2019 Earnings of $0.19 Per Share, Jefferies Financial Group Forecasts (NYSE:GO)

Grocery Outlet Holding Corp. (NYSE:GO) – Jefferies Financial Group boosted their Q3 2019 earnings per share (EPS) estimates for Grocery Outlet in a research note issued on Tuesday, October 8th. Jefferies Financial Group analyst R. Konik now forecasts that the company will post earnings of $0.19 per share for the quarter, up from their prior estimate of $0.18. Jefferies Financial Group currently has a “Buy” rating and a $51.00 target price on the stock.

Grocery Outlet (NYSE:GO) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.07. The company had revenue of $645.30 million during the quarter, compared to analysts’ expectations of $626.60 million. The firm’s quarterly revenue was up 12.2% on a year-over-year basis.

GO has been the subject of several other reports. Guggenheim initiated coverage on shares of Grocery Outlet in a research report on Monday, July 15th. They issued a “neutral” rating for the company. Deutsche Bank increased their price objective on shares of Grocery Outlet from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Barclays reaffirmed a “hold” rating and issued a $37.00 price objective on shares of Grocery Outlet in a research report on Thursday, August 15th. Morgan Stanley initiated coverage on shares of Grocery Outlet in a research report on Monday, July 15th. They issued an “equal weight” rating and a $30.00 price objective for the company. Finally, Cowen reaffirmed an “outperform” rating and issued a $48.00 price objective (up from $42.00) on shares of Grocery Outlet in a research report on Wednesday, August 14th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Grocery Outlet currently has a consensus rating of “Hold” and an average target price of $40.13.

Shares of Grocery Outlet stock opened at $32.79 on Thursday. The firm has a 50 day moving average of $37.54. Grocery Outlet has a 52 week low of $27.75 and a 52 week high of $47.57.

In other news, CEO Eric J. Jr. Lindberg sold 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $32.72, for a total transaction of $8,180,000.00. Also, CAO Pamela B. Burke sold 26,470 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $32.72, for a total transaction of $866,098.40. In the last quarter, insiders sold 12,119,742 shares of company stock worth $396,557,958.

Several hedge funds and other institutional investors have recently modified their holdings of the company. LGT Capital Partners LTD. acquired a new stake in shares of Grocery Outlet during the 3rd quarter worth approximately $2,150,000. Harbor Advisors LLC acquired a new stake in shares of Grocery Outlet during the 2nd quarter worth approximately $217,000. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Grocery Outlet during the 2nd quarter worth approximately $2,854,000. Ladenburg Thalmann Financial Services Inc. acquired a new stake in shares of Grocery Outlet during the 2nd quarter worth approximately $30,000. Finally, OZ Management LP acquired a new stake in shares of Grocery Outlet during the 2nd quarter worth approximately $1,973,000.

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. owns and operates a chain of grocery stores in the United States. The company offers products in various categories, such as grocery, dairy and deli, produce, refrigerated and frozen, floral, beer and wine, general merchandise, and health and beauty care, as well as fresh meat and seafood; and natural, organic, specialty, and healthy products.

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