AQR Capital Management LLC Reduces Stock Holdings in Grocery Outlet Holding Corp. (NASDAQ:GO)

AQR Capital Management LLC lessened its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 52.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,837,553 shares of the company’s stock after selling 2,055,769 shares during the quarter. AQR Capital Management LLC’s holdings in Grocery Outlet were worth $28,482,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GO. Barclays PLC grew its position in Grocery Outlet by 1,224.1% during the 3rd quarter. Barclays PLC now owns 300,393 shares of the company’s stock worth $5,271,000 after purchasing an additional 277,706 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Grocery Outlet by 2.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 46,875 shares of the company’s stock worth $732,000 after buying an additional 1,240 shares during the last quarter. Decker Retirement Planning Inc. acquired a new position in Grocery Outlet in the 4th quarter valued at about $31,000. Red Spruce Capital LLC raised its stake in Grocery Outlet by 10.2% during the 4th quarter. Red Spruce Capital LLC now owns 130,924 shares of the company’s stock valued at $2,044,000 after acquiring an additional 12,124 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Grocery Outlet during the 4th quarter worth approximately $658,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Grocery Outlet

In related news, EVP Steven K. Wilson sold 6,682 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $13.16, for a total transaction of $87,935.12. Following the transaction, the executive vice president now owns 166,923 shares in the company, valued at $2,196,706.68. This trade represents a 3.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Lindsay E. Gray sold 2,741 shares of Grocery Outlet stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $11.34, for a total value of $31,082.94. Following the transaction, the senior vice president now owns 41,448 shares in the company, valued at approximately $470,020.32. This trade represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders bought 200,000 shares of company stock valued at $2,435,050 and sold 17,756 shares valued at $216,892. 4.50% of the stock is currently owned by company insiders.

Grocery Outlet Price Performance

GO opened at $16.48 on Friday. The company has a quick ratio of 0.33, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The company’s 50-day moving average price is $13.71 and its 200 day moving average price is $15.92. Grocery Outlet Holding Corp. has a fifty-two week low of $10.26 and a fifty-two week high of $26.21. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 32.31, a price-to-earnings-growth ratio of 9.08 and a beta of 0.40.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GO shares. Morgan Stanley decreased their price target on Grocery Outlet from $13.00 to $10.00 and set an “underperform” rating for the company in a report on Wednesday, February 26th. Telsey Advisory Group restated a “market perform” rating and issued a $16.00 target price on shares of Grocery Outlet in a research note on Wednesday. Jefferies Financial Group upgraded shares of Grocery Outlet from a “hold” rating to a “buy” rating and boosted their price target for the stock from $13.00 to $18.00 in a research note on Wednesday, April 16th. Wells Fargo & Company reduced their price objective on shares of Grocery Outlet from $23.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft cut Grocery Outlet from a “buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a research report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $15.46.

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.