Grocery Outlet Holding Corp. delivered earnings and revenue surprises of 8% and 4.28%, respectively, for the quarter ended September 2022. GO’s flexible sourcing and distribution business model also bode well. Grocery Outlet Holding Corp. delivered earnings and revenue surprises of 8.70% and 2.95%, respectively, for the quarter ended December 2022. To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research. CompareGO’s historical performanceagainst its industry peers and the overall market. Morningstar Quantitative ratings for equities are generated using an algorithm that compares companies that are not under analyst coverage to peer companies that do receive analyst-driven ratings.
During the same year, Grocery Outlet acquired online retailer Wine.com’s remaining inventory following that retailer’s bankruptcy. In 2002, the company changed its corporate name to Grocery Outlet, Inc. There may be delays, omissions, or inaccuracies in the Information. Zacks Earnings ESP looks to find companies that have recently seen positive earnings estimate revision activity. The idea is that more recent information is, generally speaking, more accurate and can be a better predictor of the future, which can give investors an advantage in earnings season. As an investor, you want to buy stocks with the highest probability of success.
One share of GO stock can currently be purchased for approximately $27.41. Grocery Outlet does not have a long track record of dividend growth. Please log in to your account or sign up in order to add this asset to your watchlist.
That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style. The scores are based on the trading styles of Value, Growth, and Momentum. There’s also a VGM Score (‘V’ for Value, ‘G’ for Growth and ‘M’ for Momentum), which combines the weighted average of the individual style scores into one score. The Style Scores are a complementary set of indicators to use alongside the Zacks Rank. It allows the user to better focus on the stocks that are the best fit for his or her personal trading style.
Following founder James Read’s death in 1982, his sons Steven and Peter took over company management. The industry with the best average Zacks Rank would be considered the top industry , which would place it in the top 1% of Zacks Ranked Industries. The industry with the worst average Zacks Rank would place in the bottom 1%. An industry with a larger percentage of Zacks Rank #1’s and #2’s will have a better average Zacks Rank than one with a larger percentage of Zacks Rank #4’s and #5’s.
- One of the most popular sections in Grocery Outlet is labeled NOSH .
- There’s also a VGM Score (‘V’ for Value, ‘G’ for Growth and ‘M’ for Momentum), which combines the weighted average of the individual style scores into one score.
- The monthly returns are then compounded to arrive at the annual return.
- These returns cover a period from January 1, 1988 through February 6, 2023.
Grocery Outlet Holding Corp. Announces Third Quarter Fiscal 2022 Earnings Release and Conference Call Date
Canned Foods changed to selling closeout, factory second, and discounted products. In 1971 Canned Foods signed its first agreement with a supplier, Del Monte Foods. It later signed agreements with companies such as ConAgra, the Quaker Oats Company, and Revlon. Canned Foods opened its first independent store in Redmond, Oregon, in 1973. The company has stores in California, Oregon, Washington, Idaho, Nevada, Pennsylvania and New Jersey.
A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. Grocery Outlet Holding Corp. engages in ownership and operation of a network of independently operated stores in the United States.
MarketBeat has tracked 10 news articles for Grocery Outlet this week, compared to 3 articles on an average week. Grocery Outlet has a short interest ratio (“days to cover”) of 9.5. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist.
Although public companies that suffer staggering losses often do so for good reason, sometimes, it might be worthwhile to take a shot with stocks at 52-week lows. A stock’s beta measures how closely tied its price movements have been to the performance of the overall market. Grocery Outlet Holding Corp is a grocery store operator in the United States. Its flexible buying model allows them to offer quality, name-brand opportunistic products at prices generally 40% to 70% below those of conventional retailers.
Grocery Outlet’s stock was trading at $29.19 at the start of the year. Since then, GO shares have decreased by 6.1% and is now trading at $27.41. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 to -2 .
This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.52% per year. These returns cover a period from January 1, 1988 through February 6, 2023. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month.
GO Company Calendar
This news sentiment score is similar to the average news sentiment of Consumer Staples companies. The technique has proven to be very useful for finding positive surprises. Grocery Outlet’s store-growth endeavors and product offerings are encouraging. The company’s flexible sourcing and distribution business model is also noteworthy. Grocery Outlet’s third-quarter results are likely to reflect marketing efforts, store-growth endeavors and e-commerce initiatives to deepen the customer reach. Grocery Outlet’s fourth-quarter results are likely to reflect marketing efforts, store-growth endeavors and e-commerce initiatives to deepen the customer reach.
According to 22 analysts, the average rating for GO stock is “Buy.” The 12-month stock price forecast is $31.7, which is an increase of 17.95% from the latest price. Market capitalization is calculated by taking a company’s share price and multiplying it by the total number of shares. In the Morningstar Style Box, large-cap names account for the largest 70% of U.S. stocks, mid-cap names account for the largest 70–90%, and small-cap names are the remaining 10% of companies.
A staggering $226 BILLION is earmarked for projects requiring huge amounts of copper. Turns out, copper is a desperately needed mineral to power the green revolution of clean, renewable energy. Sign-up to receive the latest news and ratings for Grocery Outlet and its competitors with MarketBeat’s FREE daily newsletter. The P/E ratio of Grocery Outlet is 42.17, which means that it is trading at a more expensive P/E ratio than the Consumer Staples sector average P/E ratio of about 16.23. A high percentage of insider ownership can be a sign of company health.
We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters. Dividend yield allows investors, particularly those interested in dividend-paying stocks, to compare the relationship between a stock’s price and how it rewards stockholders through dividends. The formula for calculating https://day-trading.info/ dividend yield is to divide the annual dividend paid per share by the stock price. James Read founded the company on June 11, 1946, in San Francisco, California. He bought government surplus food products and sold them in previously vacant stores throughout San Francisco. In 1970, Cannery Sales acquired Globe of California and renamed it Canned Foods.
10 analysts have issued 1 year price objectives for Grocery Outlet’s shares. On average, they predict the company’s stock price to reach $39.20 in the next twelve months. This suggests a possible upside of 43.0% from the stock’s current price. View analysts price targets for GO or view top-rated stocks among Wall Street analysts. 10 Wall Street research analysts have issued “buy,” “hold,” and “sell” ratings for Grocery Outlet in the last twelve months.
We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Provide specific treasury reporting rates of exchange products and services to you, such as portfolio management or data aggregation. Style is an investment factor that has a meaningful impact on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated.
Grocery Outlet updated its FY23 earnings guidance on Tuesday, February, 28th. The company provided earnings per share guidance of $0.94-$0.99 for the period, compared to the consensus EPS estimate of $1.14. The company issued revenue guidance of $3.85-$3.90 billion, compared to the consensus revenue estimate of $3.93 billion. The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 9th 2023. In the past three months, Grocery Outlet insiders have sold 19,144.73% more of their company’s stock than they have bought. Specifically, they have bought $18,396.00 in company stock and sold $3,540,260.00 in company stock.