Grocery Outlet Holding Corp. (NASDAQ:GO) Expected to Post Quarterly Sales of $759.80 Million

Wall Street analysts expect that Grocery Outlet Holding Corp. (NASDAQ:GO) will announce $759.80 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Grocery Outlet’s earnings. The highest sales estimate is $771.70 million and the lowest is $746.00 million. Grocery Outlet reported sales of $760.31 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.1%. The firm is scheduled to report its next quarterly earnings report on Monday, May 10th.

On average, analysts expect that Grocery Outlet will report full-year sales of $3.23 billion for the current fiscal year, with estimates ranging from $3.20 billion to $3.28 billion. For the next financial year, analysts forecast that the business will post sales of $3.60 billion, with estimates ranging from $3.56 billion to $3.68 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Grocery Outlet.

Grocery Outlet (NASDAQ:GO) last posted its earnings results on Monday, March 1st. The company reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The business had revenue of $806.82 million for the quarter, compared to analyst estimates of $786.11 million. Grocery Outlet had a net margin of 3.09% and a return on equity of 17.92%. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.21 EPS.

Several research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Grocery Outlet from a “buy” rating to a “hold” rating and set a $37.00 price target on the stock. in a research report on Thursday, March 4th. Morgan Stanley reduced their price target on shares of Grocery Outlet from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 9th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $45.27.

In other news, Director S. Macgregor Jr. Read sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 11th. The shares were sold at an average price of $42.65, for a total transaction of $2,132,500.00. Following the completion of the transaction, the director now directly owns 52,712 shares of the company’s stock, valued at approximately $2,248,166.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian Mcandrews sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, January 8th. The stock was sold at an average price of $39.83, for a total transaction of $159,320.00. Following the transaction, the insider now directly owns 12,055 shares of the company’s stock, valued at $480,150.65. The disclosure for this sale can be found here. Insiders sold a total of 356,327 shares of company stock worth $14,337,952 over the last quarter. 15.50% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of GO. Parnassus Investments CA lifted its holdings in Grocery Outlet by 569.7% during the 4th quarter. Parnassus Investments CA now owns 3,216,927 shares of the company’s stock valued at $126,264,000 after purchasing an additional 2,736,555 shares during the last quarter. Jackson Square Partners LLC lifted its holdings in shares of Grocery Outlet by 18.1% during the fourth quarter. Jackson Square Partners LLC now owns 8,794,232 shares of the company’s stock worth $345,173,000 after buying an additional 1,347,685 shares in the last quarter. Thornburg Investment Management Inc. lifted its holdings in shares of Grocery Outlet by 4,204.2% during the fourth quarter. Thornburg Investment Management Inc. now owns 905,600 shares of the company’s stock worth $35,545,000 after buying an additional 884,560 shares in the last quarter. FIL Ltd lifted its holdings in shares of Grocery Outlet by 244.6% during the fourth quarter. FIL Ltd now owns 1,105,363 shares of the company’s stock worth $43,386,000 after buying an additional 784,579 shares in the last quarter. Finally, Sands Capital Management LLC lifted its holdings in shares of Grocery Outlet by 8.2% during the fourth quarter. Sands Capital Management LLC now owns 8,875,266 shares of the company’s stock worth $348,354,000 after buying an additional 675,706 shares in the last quarter. 96.03% of the stock is owned by institutional investors.

NASDAQ GO traded up $0.29 on Friday, hitting $37.36. 9,613 shares of the company were exchanged, compared to its average volume of 943,598. The firm has a 50 day moving average of $37.25 and a two-hundred day moving average of $38.68. The company has a market cap of $3.56 billion, a P/E ratio of 39.02, a P/E/G ratio of 2.19 and a beta of -0.39. The company has a current ratio of 1.76, a quick ratio of 0.47 and a debt-to-equity ratio of 0.50. Grocery Outlet has a 1-year low of $31.81 and a 1-year high of $48.87.

About Grocery Outlet

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 dairy and deli, produce, and fresh meat and seafood products, as well as grocery, frozen, beer and wine, general merchandise, and health and beauty care products; and natural, organic, specialty, and healthy products.

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