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.
Grocery Outlet Holding Corp. was founded in 1946 and is headquartered in Emeryville, California. High-growth stocks tend to represent the technology, healthcare, and communications sectors. They rarely distribute dividends to shareholders, opting for reinvestment in their businesses.
MacGregor Read is the third generation of the Read family to serve as CEO of Grocery Outlet. The majority of Grocery Outlet’s stores are independently operated by locally based, married couples. Each store has flexibility in its product offerings to serve local tastes and demand. You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security.
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 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.
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142 employees have rated Grocery Outlet Chief Executive Officer Eric Lindberg/ MacGregor Read on Glassdoor.com. Eric Lindberg/ MacGregor Read has an approval rating of 93% among the company’s employees. This puts Eric Lindberg/ MacGregor Read in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.
In 2007, the United States Court of Appeals for the Ninth Circuit awarded Albertsons an injunction against Grocery Outlet over its use of the Lucky brand name in a Rocklin, California, store. In 2009, the company added “Bargain Market” to its store branding. In 2011, Grocery Outlet acquired the Pennsylvania-based chain Amelia’s Grocery Outlet. In 2001, Grocery Outlet acquired all remaining liquidated inventories of Webvan following the online grocery delivery service’s bankruptcy.
- Grocery Outlet Holding Corp. is a retailer of name-brand consumables and fresh products sold through a network of independently operated stores.
- In 2002, the company changed its corporate name to Grocery Outlet, Inc.
- Grocery Outlet Holding Corp. doesn’t possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report.
The Zacks Consumer Products – Staples industry players are bearing the brunt of cost input inflation. However, solid online sales and saving efforts keep Chewy , Albertsons Companies , Groc… Grocery Outlet Holding Corp. doesn’t possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Maintaining independence and editorial freedom is essential to our mission of empowering investor success.
Grocery Outlet stock sinks after sales miss
More value-oriented stocks tend to represent financial services, utilities, and energy stocks. These are established companies that reliably pay dividends. Grocery Outlet Holding Corp. owns and operates a network of independently operated stores in the United States. The company was founded in 1946 and is headquartered in Emeryville, California.
The company’s average rating score is 2.40, and is based on 5 buy ratings, 4 hold ratings, and 1 sell rating. Morgan Stanley analyst Simeon Gutman maintained a Sell rating on Grocery Outlet Holding (GO – Research Report) today and set a price target of $26.00. The company’s shares opened today at $29.40.According to TipRanks, Gutm… Real-time analyst ratings, insider transactions, earnings data, and more. Grocery Outlet’s stock is owned by a number of institutional and retail investors. Top institutional shareholders include Alliancebernstein L.P.
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ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities. Grocery Outlet’s third-quarter results reflect a comparable store sales increase of 15.4%. Management anticipates 2022 comparable store sales growth of 11%. Grocery Outlet’s fourth-quarter results reflect a comparable store sales increase of 15.1%. Management anticipates comparable store sales growth of 4.5% to 5.5% for 2023.
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All products sold by Grocery Outlet are purchased directly from manufacturers, never from other retail stores. One of the most popular sections in Grocery Outlet is labeled NOSH . Mainly because of this section, Grocery Outlet has the 11 best growth stocks to buy for 2021 attracted followers who want to buy ethical items (often vegan and/or plant-based) on a budget. At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors.
The stores are run by Entrepreneurial independent operators which create a neighborhood feel through personalized customer service and a localized product offering. 97.42% of the stock of Grocery Outlet is held by institutions. High institutional ownership can be a signal of strong market trust in this company. Grocery Outlet has been the subject of 6 research reports in the past 90 days, demonstrating strong analyst interest in this stock.
Grocery Outlet Holding Corp. engages in the operation of retail stores in the United States. It offers name-brand consumables and fresh products through a network of independently operated stores. The company was founded by Jim Read in 1946 and is headquartered in Emeryville, CA.
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Grocery Outlet Holding Corp. is a retailer of name-brand consumables and fresh products sold through a network of independently operated stores. The Company operates approximately 410 stores in California, Washington, Oregon, Pennsylvania, Idaho, Nevada and New Jersey. The Company’s product offering includes staples, across grocery, produce, refrigerated and frozen foods, beer and wine, fresh https://day-trading.info/ meat and seafood, general merchandise, and health and beauty care. We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management.
(5.60%), Jackson Square Partners LLC (5.44%), Mackenzie Financial Corp (4.70%), JPMorgan Chase & Co. (2.60%), Marshall Wace LLP (2.32%) and Neuberger Berman Group LLC (2.32%). The company promoted MacGregor Read and Eric Lindberg to co-CEO in 2006. Prior to their appointment, Read was vice president of real estate and Lindberg vice president of purchasing for the company. They took over for Steven Read, who became executive chairman of Grocery Outlet. MacGregor Read is the son of Steven Read and Lindberg the son-in-law of Grocery Outlet Chairman Peter Read.
Intraday data delayed at least 15 minutes or per exchange requirements. Less grocery stores in Texas and another in Shreveport, Louisiana, from Dallas, Texas-based Fleming Cos. The Zacks Industry Rank assigns a rating to each of the 265 X Industries based on their average Zacks Rank.
There are currently 1 sell rating, 4 hold ratings and 5 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should “hold” GO shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in GO, but not buy additional shares or sell existing shares. Inventory comes primarily from overstocks and closeouts of name-brand groceries, as well as private-label groceries. Grocery Outlet buys mostly closeout or seasonal merchandise, so particular brand names change often. The company’s stores also carry food staples such as fresh meat, dairy and bread.