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

Grocery Outlet Holding Corp. (NASDAQ:GO - Get Free Report) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totalling 9,190,000 shares, a drop of 8.3% from the September 15th total of 10,020,000 shares. Currently, 9.8% of the shares of the company are sold short. Based on an average daily trading volume, of 2,000,000 shares, the days-to-cover ratio is presently 4.6 days.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GO shares. UBS Group cut their price target on Grocery Outlet from $27.00 to $21.00 and set a "neutral" rating for the company in a report on Wednesday, August 7th. Melius Research assumed coverage on shares of Grocery Outlet in a research report on Monday, September 23rd. They set a "hold" rating and a $17.00 target price on the stock. Roth Mkm lowered their price target on shares of Grocery Outlet from $22.00 to $20.00 and set a "neutral" rating for the company in a report on Wednesday, August 7th. Roth Capital raised Grocery Outlet from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company began coverage on Grocery Outlet in a research note on Thursday, July 18th. They issued an "overweight" rating and a $28.00 target price for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $22.11.

Grocery Outlet Stock Up 2.6 %

Shares of NASDAQ GO traded up $0.42 during midday trading on Wednesday, reaching $16.87. The company's stock had a trading volume of 1,823,069 shares, compared to its average volume of 1,763,577. The stock has a 50 day simple moving average of $17.48 and a 200-day simple moving average of $20.90. The company has a current ratio of 1.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 3.10 and a beta of 0.10. Grocery Outlet has a fifty-two week low of $15.18 and a fifty-two week high of $29.98.

Grocery Outlet (NASDAQ:GO - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.05. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.10 billion. Grocery Outlet had a return on equity of 5.18% and a net margin of 1.30%. Grocery Outlet's quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 earnings per share. Equities research analysts predict that Grocery Outlet will post 0.68 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Eric J. Jr. Lindberg sold 200,095 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total transaction of $3,259,547.55. Following the sale, the director now directly owns 70,938 shares in the company, valued at approximately $1,155,580.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Eric J. Jr. Lindberg sold 100,000 shares of the company's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.90, for a total value of $1,890,000.00. Following the sale, the director now directly owns 70,938 shares in the company, valued at approximately $1,340,728.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the transaction, the director now owns 70,938 shares of the company's stock, valued at $1,155,580.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 500,095 shares of company stock valued at $8,876,548 over the last three months. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. 12 West Capital Management LP raised its holdings in Grocery Outlet by 383.3% in the 1st quarter. 12 West Capital Management LP now owns 3,625,000 shares of the company's stock valued at $104,328,000 after acquiring an additional 2,875,000 shares during the period. Capital World Investors lifted its holdings in Grocery Outlet by 281.4% during the 1st quarter. Capital World Investors now owns 3,579,683 shares of the company's stock worth $103,023,000 after purchasing an additional 2,641,016 shares during the last quarter. Millennium Management LLC boosted its stake in Grocery Outlet by 677.6% in the 2nd quarter. Millennium Management LLC now owns 1,981,558 shares of the company's stock valued at $43,832,000 after purchasing an additional 1,726,741 shares during the period. Solel Partners LP acquired a new position in Grocery Outlet in the 2nd quarter valued at $35,980,000. Finally, American Century Companies Inc. increased its position in Grocery Outlet by 889.9% during the 2nd quarter. American Century Companies Inc. now owns 1,010,785 shares of the company's stock worth $22,359,000 after buying an additional 908,680 shares during the period. 99.87% of the stock is currently owned by institutional investors.

Grocery Outlet Company Profile

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.