Short Interest in Grocery Outlet Holding Corp. (NASDAQ:GO) Rises By 5.2%

Grocery Outlet Holding Corp. (NASDAQ:GOGet Rating) saw a significant growth in short interest in the month of December. As of December 30th, there was short interest totalling 8,680,000 shares, a growth of 5.2% from the December 15th total of 8,250,000 shares. Based on an average trading volume of 1,180,000 shares, the days-to-cover ratio is presently 7.4 days. Currently, 9.7% of the shares of the company are sold short.

Insider Activity

In other news, CEO Eric J. Jr. Lindberg sold 25,000 shares of the stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $35.28, for a total value of $882,000.00. Following the completion of the sale, the chief executive officer now directly owns 60,560 shares of the company’s stock, valued at $2,136,556.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Thomas F. Herman sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $31.69, for a total value of $63,380.00. Following the completion of the transaction, the director now directly owns 39,400 shares of the company’s stock, valued at $1,248,586. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Eric J. Jr. Lindberg sold 25,000 shares of the firm’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $35.28, for a total value of $882,000.00. Following the completion of the transaction, the chief executive officer now directly owns 60,560 shares of the company’s stock, valued at $2,136,556.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,806 shares of company stock valued at $1,401,001. 11.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Grocery Outlet

Hedge funds and other institutional investors have recently bought and sold shares of the company. Yousif Capital Management LLC raised its position in Grocery Outlet by 9.2% in the 2nd quarter. Yousif Capital Management LLC now owns 38,837 shares of the company’s stock valued at $1,656,000 after buying an additional 3,275 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Grocery Outlet during the 2nd quarter worth approximately $269,000. Xponance Inc. increased its position in shares of Grocery Outlet by 16.9% during the 2nd quarter. Xponance Inc. now owns 11,243 shares of the company’s stock worth $479,000 after purchasing an additional 1,628 shares during the last quarter. Comerica Bank increased its position in shares of Grocery Outlet by 5.6% during the 3rd quarter. Comerica Bank now owns 56,701 shares of the company’s stock worth $1,838,000 after purchasing an additional 3,006 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Grocery Outlet by 2.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,362,610 shares of the company’s stock worth $100,718,000 after purchasing an additional 50,070 shares during the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

Wall Street Analyst Weigh In

GO has been the subject of several recent analyst reports. DA Davidson dropped their price objective on Grocery Outlet to $39.00 in a research note on Tuesday, November 15th. Credit Suisse Group started coverage on Grocery Outlet in a research note on Monday, December 19th. They set a “neutral” rating and a $30.00 price objective for the company. The Goldman Sachs Group raised their target price on Grocery Outlet from $38.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, November 9th. Morgan Stanley lowered their target price on Grocery Outlet from $30.00 to $26.00 and set an “underweight” rating for the company in a research note on Tuesday, January 17th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Grocery Outlet from $51.00 to $43.00 in a research note on Friday, November 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Grocery Outlet Price Performance

Shares of GO opened at $28.87 on Wednesday. The company has a current ratio of 1.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.35. Grocery Outlet has a 1 year low of $23.69 and a 1 year high of $46.37. The stock has a market cap of $2.81 billion, a P/E ratio of 51.55, a price-to-earnings-growth ratio of 2.80 and a beta of -0.06. The stock’s 50-day moving average price is $29.71 and its two-hundred day moving average price is $35.01.

Grocery Outlet (NASDAQ:GOGet Rating) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). Grocery Outlet had a net margin of 1.63% and a return on equity of 7.83%. The business had revenue of $918.19 million for the quarter, compared to the consensus estimate of $880.51 million. On average, equities analysts predict that Grocery Outlet will post 0.76 earnings per share for the current year.

About Grocery Outlet

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Grocery Outlet Holding Corp. owns and operates a network of independently operated stores in the United States. The company's stores offer products in various categories, such as dairy and deli, produce, floral, and fresh meat and seafood products, as well as grocery, general merchandise, health and beauty care, frozen foods, and beer and wine.

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