Grocery Outlet Holding Corp. (NASDAQ: GO) stock jumped 0.37% on Wednesday to $30.11 against a previous-day closing price of $30.00. With 0.76 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.09 million shares. During the session, the Grocery Stores company that operates in wider Consumer Defensive sector, reached to the highest price of $30.44 whereas the lowest price it dropped to was $29.69. The 52-week range on GO shows that it touched its highest point at $46.37 and its lowest point at $25.71 during that stretch. It currently has a 1-year price target of $31.62. Beta for the stock currently stands at -0.01.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GO was down-trending over the past week, with a drop of -1.34%, but this was up by 3.51% over a month. Three-month performance surged to 6.74% while six-month performance fell -1.70%. The stock lost -21.20% in the past year, while it has gained 3.15% so far this year. A look at the trailing 12-month EPS for GO yields 0.67 with Next year EPS estimates of 1.15. For the next quarter, that number is 0.26. This implies an EPS growth rate of 3.60% for this year and 14.84% for next year. EPS is expected to grow by 10.91% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 22.00%.
Float and Shares Shorts:
At present, 97.92 million GO shares are outstanding with a float of 88.83 million shares on hand for trading. On Apr 27, 2023, short shares totaled 9.43 million, which was 9.65% higher than short shares on Mar 30, 2023. In addition to Mr. Robert Joseph Sheedy Jr. as the firm’s Pres, CEO & Director, Mr. Charles C. Bracher serves as its Exec. VP & CFO.
Institutional Ownership:
Through their ownership of 102.49% of GO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 66.85% of GO, in contrast to 38.57% held by mutual funds. Shares owned by individuals account for 37.91%. As the largest shareholder in GO with 9.21% of the stake, Capital Research & Management Co holds 8,998,994 shares worth 8,998,994. A second-largest stockholder of GO, The Vanguard Group, Inc., holds 8,828,219 shares, controlling over 9.04% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in GO, holding 7,202,305 shares or 7.37% stake. With a 5.48% stake in GO, the American Funds Small Cap World Fu is the largest stakeholder. A total of 5,352,046 shares are owned by the mutual fund manager. The Parnassus Mid Cap Fund, which owns about 5.23% of GO stock, is the second-largest Mutual Fund holder. It holds 5,109,802 shares valued at 152.17 million. American Funds AMCAP Fund holds 4.00% of the stake in GO, owning 3,903,436 shares worth 116.24 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 31, 2023, GO reported revenue of $897.66M and operating income of $26.91M. The EBITDA in the recently reported quarter was $45.70M and diluted EPS was $0.20.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GO since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With GO analysts setting a high price target of $38.00 and a low target of $25.00, the average target price over the next 12 months is $31.62. Based on these targets, GO could surge 26.2% to reach the target high and fall by -16.97% to reach the target low. Reaching the average price target will result in a growth of 5.01% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded GO stock several times over the past three months with 21 Buys and 15 Sells. In these transactions, 519,959 shares were bought while 161,408 shares were sold. The number of buy transactions has increased to 77 while that of sell transactions has risen to 84 over the past year. The total number of shares bought during that period was 4,015,602 while 4,348,879 shares were sold.
