Grocery Outlet Holding Corp. (NASDAQ:GO) Short Interest Up 7.7% in March

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GO shares. The Goldman Sachs Group lowered Grocery Outlet from a “buy” rating to a “sell” rating and cut their price objective for the stock from $33.00 to $24.00 in a research report on Tuesday, December 12th. Telsey Advisory Group cut their price objective on Grocery Outlet from $40.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Craig Hallum raised Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Wednesday, February 28th. Finally, UBS Group cut their price objective on Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $31.44.

Get Our Latest Analysis on Grocery Outlet

Grocery Outlet Trading Down 4.5 %

NASDAQ GO opened at $26.59 on Thursday. Grocery Outlet has a 52-week low of $23.41 and a 52-week high of $36.54. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $2.64 billion, a P/E ratio of 33.66, a P/E/G ratio of 2.76 and a beta of 0.10. The firm has a 50-day moving average price of $26.42 and a 200 day moving average price of $27.35.

Grocery Outlet (NASDAQ:GOGet Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, beating 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 company had revenue of $989.82 million during the quarter, compared to the consensus estimate of $982.44 million. Equities research analysts expect that Grocery Outlet will post 0.95 EPS for the current year.

Insider Activity

In related news, Director Thomas F. Herman sold 1,000 shares of Grocery Outlet stock in a transaction dated Wednesday, March 27th. The stock was 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 approximately $301,600. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Thomas F. Herman sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $29.00, for a total transaction of $29,000.00. Following the transaction, the director now directly owns 10,400 shares in the company, valued at approximately $301,600. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Erik D. Ragatz purchased 36,500 shares of Grocery Outlet stock in a transaction dated Friday, March 22nd. The shares were purchased at an average cost of $28.25 per share, for a total transaction of $1,031,125.00. Following the transaction, the director now owns 36,500 shares in the company, valued at approximately $1,031,125. The disclosure for this purchase can be found here. Insiders have sold 506,588 shares of company stock worth $13,367,577 in the last ninety days. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Grocery Outlet

Hedge funds and other institutional investors have recently made changes to their positions in the business. Clearfield Capital Management LP acquired a new position in Grocery Outlet in the 2nd quarter worth $31,919,000. Van Berkom & Associates Inc. lifted its holdings in Grocery Outlet by 62.4% in the 3rd quarter. Van Berkom & Associates Inc. now owns 2,394,826 shares of the company’s stock worth $69,091,000 after buying an additional 920,032 shares in the last quarter. Norges Bank acquired a new position in Grocery Outlet in the 4th quarter worth $24,588,000. Balyasny Asset Management L.P. acquired a new position in Grocery Outlet in the 4th quarter worth $22,781,000. Finally, BlackRock Inc. lifted its holdings in Grocery Outlet by 7.7% in the 1st quarter. BlackRock Inc. now owns 8,852,693 shares of the company’s stock worth $290,192,000 after buying an additional 631,964 shares in the last quarter. Institutional investors and hedge funds 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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