Three weeks after splitting its stock 5 shares to 1, Publix has announced its stock is on the rise.
The grocery — whose stock is not publicly traded, but rather held by employees and directors — split its stock on April 14, at which point it was worth $68.80 per share. The split cut the price to $13.76 per share, with shareholders getting five shares for every one they owned.
In an earnings report on Monday, Publix announced its stock price was going up to $14.91 — an increase of $1.15 per share under the new value, or $5.75 per pre-split share. By dollars, that’s a company record for a single stock price increase, although there have been larger increases on a percentage basis.
