Andrea Renee Bortner, Executive Vice President and Chief Human Resources Officer at Grocery Outlet Holding Corp. (NASDAQ:GO), recently sold 1,931 shares of the company’s common stock. The shares were sold at a price of $13.79 each, amounting to a total value of $26,628. Following this transaction, Bortner holds 27,106 shares directly. The sale comes as the $1.33 billion market cap company trades at a P/E ratio of 34.5x, with InvestingPro data showing 13 analysts recently revising earnings estimates downward.
This sale was executed under a pre-established Rule 10b5-1 trading plan, which was adopted on June 7, 2024. For deeper insights into GO’s valuation and 8 additional key ProTips, consider exploring InvestingPro’s comprehensive analysis. Additionally, Bortner indirectly holds 31,167 shares through the Bortner Family Trust, where she serves as a trustee.
In other recent news, Grocery Outlet Holding Corp reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of $0.15, which fell short of analyst expectations of $0.17. Despite this, the company exceeded revenue forecasts, achieving $1.1 billion against a projected $1.09 billion. Analysts from Craig-Hallum, Telsey Advisory Group, and DA Davidson have all adjusted their price targets for Grocery Outlet, citing mixed results in sales performance and profitability concerns. Craig-Hallum lowered their target to $13.50, while Telsey and DA Davidson set theirs at $16.00 and $15.00, respectively, all maintaining neutral or hold ratings on the stock.
Grocery Outlet’s comparable store sales saw a positive growth of 2.9%, surpassing some expectations, though profitability was impacted by system integration issues and higher inventory shrinkage. The company is undergoing a restructuring plan that includes store closures and lease exits, aiming to streamline operations and improve long-term returns. These changes are expected to affect short-term profitability, particularly in the first half of 2025. Despite these challenges, Grocery Outlet’s management remains focused on enhancing operational efficiency and addressing ongoing system issues to stabilize its financial outlook.
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