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

Grocery Outlet Holding Corp. (NASDAQ:GOGet Free Report) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 6,430,000 shares, an increase of 7.7% from the February 29th total of 5,970,000 shares. Based on an average daily trading volume, of 1,270,000 shares, the short-interest ratio is presently 5.1 days. Approximately 6.8% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. The Goldman Sachs Group cut shares of Grocery Outlet from a “buy” rating to a “sell” rating and decreased their price objective for the company from $33.00 to $24.00 in a research note on Tuesday, December 12th. Craig Hallum upgraded shares of Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Wednesday, February 28th. Telsey Advisory Group decreased their target price on shares of Grocery Outlet from $40.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Finally, UBS Group decreased their target price on shares of Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Grocery Outlet has a consensus rating of “Hold” and a consensus target price of $31.44.

View Our Latest Analysis on GO

Grocery Outlet Price Performance

Grocery Outlet stock opened at $27.84 on Wednesday. Grocery Outlet has a 52-week low of $23.41 and a 52-week high of $36.54. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 35.24, a PEG ratio of 2.76 and a beta of 0.10. The company has a fifty day simple moving average of $26.39 and a 200-day simple moving average of $27.35. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 0.24.

Grocery Outlet (NASDAQ:GOGet Free Report) last released its earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. Grocery Outlet had a net margin of 2.00% and a return on equity of 7.17%. The business had revenue of $989.82 million during the quarter, compared to analyst estimates of $982.44 million. On average, equities analysts anticipate that Grocery Outlet will post 0.95 EPS for the current fiscal year.

Insider Transactions at Grocery Outlet

In other news, CEO Robert Joseph Jr. Sheedy sold 10,456 shares of Grocery Outlet stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $26.33, for a total value of $275,306.48. Following the transaction, the chief executive officer now owns 198,992 shares of the company’s stock, valued at approximately $5,239,459.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Thomas F. Herman sold 2,000 shares of Grocery Outlet stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $29.00, for a total value of $58,000.00. Following the completion of the sale, the director now directly owns 11,400 shares in the company, valued at approximately $330,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Joseph Jr. Sheedy sold 10,456 shares of Grocery Outlet stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $26.33, for a total transaction of $275,306.48. Following the sale, the chief executive officer now owns 198,992 shares of the company’s stock, valued at $5,239,459.36. The disclosure for this sale can be found here. Insiders have sold a total of 506,588 shares of company stock valued at $13,367,577 in the last 90 days. Insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Grocery Outlet

Large investors have recently modified their holdings of the business. Advisor Group Holdings Inc. boosted its position in shares of Grocery Outlet by 51.3% during the 1st quarter. Advisor Group Holdings Inc. now owns 5,508 shares of the company’s stock valued at $192,000 after acquiring an additional 1,868 shares during the last quarter. Raymond James & Associates boosted its position in shares of Grocery Outlet by 38.3% during the 1st quarter. Raymond James & Associates now owns 55,554 shares of the company’s stock valued at $1,821,000 after acquiring an additional 15,389 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of Grocery Outlet during the 1st quarter valued at about $242,000. Citigroup Inc. boosted its position in shares of Grocery Outlet by 120.4% during the 1st quarter. Citigroup Inc. now owns 22,823 shares of the company’s stock valued at $748,000 after acquiring an additional 134,572 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in Grocery Outlet in the first quarter valued at about $1,166,000. Hedge funds and other institutional investors own 99.87% of the company’s stock.

About Grocery Outlet

(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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