Grocery Outlet Holding Corp. (NYSE:GO) Expected to Announce Quarterly Sales of $652.66 Million

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Wall Street brokerages expect Grocery Outlet Holding Corp. (NYSE:GO) to announce $652.66 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Grocery Outlet’s earnings. The highest sales estimate is $655.00 million and the lowest is $650.32 million. The company is expected to issue its next quarterly earnings results on Monday, February 10th.

According to Zacks, analysts expect that Grocery Outlet will report full year sales of $2.56 billion for the current fiscal year, with estimates ranging from $2.55 billion to $2.56 billion. For the next fiscal year, analysts expect that the business will post sales of $2.89 billion, with estimates ranging from $2.86 billion to $2.91 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Grocery Outlet.

Grocery Outlet (NYSE:GO) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The company had revenue of $652.50 million for the quarter, compared to analysts’ expectations of $652.60 million. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year.

Several equities analysts recently commented on the company. Jefferies Financial Group set a $51.00 target price on Grocery Outlet and gave the company a “buy” rating in a report on Tuesday, October 8th. Zacks Investment Research downgraded Grocery Outlet from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $39.89.

In related news, CAO Pamela B. Burke sold 26,470 shares of Grocery Outlet stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $32.72, for a total value of $866,098.40. Also, EVP Thomas H. Mcmahon sold 50,000 shares of Grocery Outlet stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $32.72, for a total transaction of $1,636,000.00. Insiders have sold 12,119,742 shares of company stock valued at $396,557,958 in the last quarter.

A number of hedge funds and other institutional investors have recently bought and sold shares of GO. Price T Rowe Associates Inc. MD purchased a new position in Grocery Outlet in the second quarter worth $52,501,000. Vanguard Group Inc. acquired a new position in shares of Grocery Outlet during the 2nd quarter worth $33,674,000. JPMorgan Chase & Co. purchased a new position in shares of Grocery Outlet in the 2nd quarter valued at about $25,921,000. Citadel Advisors LLC purchased a new position in shares of Grocery Outlet in the 2nd quarter valued at about $26,055,000. Finally, UBS Asset Management Americas Inc. purchased a new position in shares of Grocery Outlet in the 2nd quarter valued at about $11,005,000.

Shares of GO stock traded down $0.84 during trading hours on Friday, reaching $32.45. 330,590 shares of the stock were exchanged, compared to its average volume of 718,904. The stock has a fifty day moving average price of $32.09. Grocery Outlet has a 12-month low of $27.75 and a 12-month high of $47.57.

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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