(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.

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 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.

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.

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 15 best stocks to buy for beginners right now 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.

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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.

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.

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. Announces Retirement of Vice Chairman of the Board MacGregor Read

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.

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.

Latest On Grocery Outlet Holding Corp

According to analysts’ consensus price target of $39.20, Grocery Outlet has a forecasted upside of 43.0% from its current price of $27.41. Intraday Data provided by FACTSET and subject to terms of use. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only.

• Provide specific products and services to you, such as portfolio management or data aggregation.
• 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.
• This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system.
• In 1971 Canned Foods signed its first agreement with a supplier, Del Monte Foods.
• In the past three months, Grocery Outlet insiders have sold 19,144.73% more of their company’s stock than they have bought.
• Grocery Outlet’s stock is owned by a number of institutional and retail 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.

© 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer. The company issued 17,200,000 shares at $15.00-$17.00 per share. A $226B Copper Spending JackpotOn November 15, 2021, President Biden signed the biggest infrastructure spending bill of all time.

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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.

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.

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.

GO Grocery Outlet Holding Corp.Stock Price & Overview

Sign Up NowGet this delivered to your inbox, and more info about our products and services. The Zacks Consumer Products – Staples industry players are benefiting from favorable demand and revenue-driving efforts amid elevated costs. Gear advertisements and other marketing efforts towards your interests. We’d like to share more about how we work and what drives our day-to-day business. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams.

Price Target and Rating

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.