Natural Grocers (NGVC)
Sells natural groceries, supplements, and body care through smaller-format U.S. stores.
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Sells natural and organic groceries, dietary supplements, body care, and related products through a single U.S. retail-store segment. The model combines strict product standards, smaller stores, free nutrition education, and founder-family leadership, with grocery the core sales category and the footprint concentrated in western, southwestern, plains, and mountain states.
Sells natural and organic groceries, dietary supplements, body care, pet care, and other products through one reportable retail-store segment. Grocery is the core sales category, while supplements and body care extend the store trip beyond conventional food retail.
Stores are smaller-format and concentrated in the United States, with a footprint across western, southwestern, plains, and mountain states. The operating model emphasizes strict product standards, entirely organic produce, screened ingredients, private-label Natural Grocers Brand products, and free nutrition education.
Founder-family leadership remains central: Kemper Isely and Zephyr Isely serve as Co-Presidents and principal executive officers. The business depends on store execution, product-standard credibility, supplier availability, and competition from supermarkets, mass retailers, natural-food chains, warehouse clubs, supplement sellers, and online retailers.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Apr 16, 2026 | Industrial Alliance Securities | Target | Target: — | Target: $40 |
| Oct 22, 2025 | Northcoast Research | Target | Target: — | Target: $54 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $17.5M · Total debt $321.2M · Total assets $687.7M · Shareholders' equity $239.4M
- Revenue
- $334.7M
- Operating income
- $15.0M
- Net income
- $11.1M
HistoryDividendAnnual yield
| Institutions | 40.45% | 9.32M shares | |
|---|---|---|---|
| 159 holders · as of Jun 30, 2026 | |||
| Insiders | 1.68% | 386.6K shares | |
| 9 holders · as of Jun 2, 2026 | |||
| Other | 57.87% | 13.34M shares | |
| remainder | |||
23.05M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 4.30% | 991,823 | as of Jun 30, 2026 |
American Century Companies IncInstitution | 2.83% | 652,774 | as of Jun 30, 2026 |
Dimensional Fund Advisors LPInstitution | 2.83% | 651,746 | as of Jun 30, 2026 |
Royce & Associates LPInstitution | 2.60% | 600,263 | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 2.32% | 534,646 | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 29, 2026 | Charity Isely | other: 13D Group Member | −3,000 | $29.04 |
- Sprouts Farmers Market
Closest specialty-grocery peer in natural and organic food
- Amazon
Whole Foods and Amazon grocery overlap in stores and online
- Kroger
Scale supermarket rival with organic brands and fresh departments
- Walmart
Mass grocery and warehouse formats pressure price and convenience
- Costco
Warehouse-club grocery rival in bulk and fresh food trips
- Albertsons Companies
Regional supermarket peer through Safeway and organic own brands
- Target
Mass retailer overlap in food, beauty, essentials, and pet care
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Natural Grocers | $31.12 | +0.71% | $712.0M | 15.0 | 14.0 | 0.5 | +1.8% |
| Sprouts Farmers Market | $68.97 | +0.45% | $6.40B | 13.2 | 11.7 | 0.7 | +4.7% |
| Amazon | $255.84 | −1.01% | $2.78T | 20.8 | 27.4 | 3.6 | +19.6% |
| Kroger | $59.18 | −0.85% | $36.57B | 32.3 | 11.9 | 0.2 | +2.0% |
| Walmart | $109.81 | +2.20% | $855.02B | 38.8 | 36.7 | 1.2 | +5.9% |
| Costco | $897.63 | −0.09% | $398.46B | 45.2 | 40.9 | 1.4 | +11.6% |
| Albertsons Companies | $12.20 | +0.62% | $5.88B | 151.5 | 5.5 | 0.1 | +0.2% |
| Target | $159.83 | +1.34% | $71.63B | 16.4 | 17.2 | 0.7 | +5.3% |
| Median | 32.3 | 17.2 | 0.7 | +5.3% |