Grocery Outlet Holding Corp. (NASDAQ:GO) Short Interest Update

Grocery Outlet Holding Corp. (NASDAQ:GOGet Free Report) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totalling 8,910,000 shares, an increase of 16.8% from the April 30th total of 7,630,000 shares. Based on an average daily volume of 1,690,000 shares, the days-to-cover ratio is currently 5.3 days.

Grocery Outlet Trading Up 2.5 %

Shares of GO traded up $0.54 during trading hours on Friday, hitting $21.99. 1,571,996 shares of the stock traded hands, compared to its average volume of 2,467,039. The company has a current ratio of 1.25, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23. Grocery Outlet has a 1-year low of $19.73 and a 1-year high of $36.54. The firm has a market capitalization of $2.20 billion, a PE ratio of 34.36, a price-to-earnings-growth ratio of 3.88 and a beta of 0.13. The business has a fifty day moving average of $25.08 and a 200-day moving average of $26.32.

Grocery Outlet (NASDAQ:GOGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.10). Grocery Outlet had a net margin of 1.60% and a return on equity of 5.46%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. Analysts expect that Grocery Outlet will post 0.72 EPS for the current year.

Insider Activity at Grocery Outlet

In other Grocery Outlet news, Director Thomas F. Herman sold 1,000 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $29.00, for a total value of $29,000.00. Following the sale, the director now directly owns 10,400 shares in the company, valued at $301,600. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Grocery Outlet news, Director Thomas F. Herman sold 1,000 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $29.00, for a total value of $29,000.00. Following the sale, the director now directly owns 10,400 shares in the company, valued at $301,600. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Erik D. Ragatz purchased 100,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was acquired at an average price of $20.91 per share, for a total transaction of $2,091,000.00. Following the completion of the transaction, the director now owns 429,785 shares of the company’s stock, valued at approximately $8,986,804.35. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 146,500 shares of company stock worth $3,323,025 and have sold 205,920 shares worth $5,491,454. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

A number of hedge funds have recently modified their holdings of GO. Boston Partners bought a new position in shares of Grocery Outlet during the first quarter worth about $303,000. Tidal Investments LLC grew its holdings in shares of Grocery Outlet by 64.9% during the first quarter. Tidal Investments LLC now owns 39,037 shares of the company’s stock worth $1,123,000 after buying an additional 15,369 shares in the last quarter. Vancity Investment Management Ltd grew its stake in Grocery Outlet by 35.8% in the first quarter. Vancity Investment Management Ltd now owns 35,140 shares of the company’s stock valued at $1,011,000 after purchasing an additional 9,258 shares in the last quarter. Janus Henderson Group PLC grew its stake in Grocery Outlet by 2.1% in the first quarter. Janus Henderson Group PLC now owns 1,936,436 shares of the company’s stock valued at $55,731,000 after purchasing an additional 40,055 shares in the last quarter. Finally, Kennedy Capital Management LLC grew its stake in Grocery Outlet by 3.9% in the first quarter. Kennedy Capital Management LLC now owns 275,569 shares of the company’s stock valued at $7,931,000 after purchasing an additional 10,220 shares in the last quarter. Institutional investors and hedge funds own 99.87% of the company’s stock.

Analyst Upgrades and Downgrades

GO has been the subject of several analyst reports. UBS Group reduced their target price on Grocery Outlet from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. TD Cowen reduced their target price on Grocery Outlet from $43.00 to $25.00 and set a “buy” rating for the company in a report on Friday, May 10th. Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Wednesday, February 28th. Roth Mkm reduced their target price on Grocery Outlet from $27.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Finally, Telsey Advisory Group cut their price target on Grocery Outlet from $37.00 to $31.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $28.90.

Check Out Our Latest Analysis on GO

Grocery Outlet Company Profile

(Get Free Report)

Grocery Outlet Holding Corp. operates as a retailer of consumables and fresh products sold through independently operated stores in the United States. Its stores offer products in various categories, such as dairy and deli, produce, floral, fresh meat, seafood products, grocery, general merchandise, health and beauty care, frozen food, beer and wine, and ethnic products.

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