Mackenzie Financial Corp Lowers Stock Position in Grocery Outlet Holding Corp. (NASDAQ:GO)

Mackenzie Financial Corp trimmed its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,795,979 shares of the company's stock after selling 136,985 shares during the quarter. Mackenzie Financial Corp owned 4.94% of Grocery Outlet worth $74,865,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Amundi grew its stake in shares of Grocery Outlet by 0.6% during the 4th quarter. Amundi now owns 116,139 shares of the company's stock worth $1,895,000 after acquiring an additional 719 shares in the last quarter. Cedar Wealth Management LLC grew its stake in shares of Grocery Outlet by 3.9% during the 4th quarter. Cedar Wealth Management LLC now owns 20,370 shares of the company's stock worth $318,000 after acquiring an additional 765 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Grocery Outlet by 9.6% during the 4th quarter. Integrated Wealth Concepts LLC now owns 15,671 shares of the company's stock worth $245,000 after acquiring an additional 1,377 shares in the last quarter. Guggenheim Capital LLC grew its stake in shares of Grocery Outlet by 9.1% during the 4th quarter. Guggenheim Capital LLC now owns 16,955 shares of the company's stock worth $265,000 after acquiring an additional 1,408 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Grocery Outlet by 62.7% during the 4th quarter. KBC Group NV now owns 4,506 shares of the company's stock worth $70,000 after acquiring an additional 1,736 shares in the last quarter. 99.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GO has been the subject of several research reports. Wells Fargo & Company raised their price target on shares of Grocery Outlet from $18.00 to $19.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $16.00 price target on shares of Grocery Outlet in a report on Wednesday, April 30th. The Goldman Sachs Group dropped their target price on Grocery Outlet from $14.00 to $11.00 and set a "sell" rating for the company in a report on Thursday, February 27th. UBS Group boosted their price target on Grocery Outlet from $14.50 to $17.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, Bank of America dropped their price target on Grocery Outlet from $20.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $15.62.

Grocery Outlet Trading Down 1.4%

Shares of NASDAQ:GO traded down $0.19 during trading on Friday, reaching $13.55. 1,248,897 shares of the company traded hands, compared to its average volume of 3,026,825. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 26.57, a P/E/G ratio of 9.08 and a beta of 0.42. Grocery Outlet Holding Corp. has a 52-week low of $10.26 and a 52-week high of $22.55. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. The business's fifty day moving average is $14.45 and its 200-day moving average is $15.65.

Grocery Outlet (NASDAQ:GO - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.06. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The business's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 earnings per share. As a group, analysts forecast that Grocery Outlet Holding Corp. will post 0.63 EPS for the current year.

Insider Buying and Selling

In other news, EVP Steven K. Wilson sold 6,682 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $13.16, for a total transaction of $87,935.12. Following the completion of the transaction, the executive vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Erik D. Ragatz purchased 19,000 shares of the business's stock in a transaction dated Friday, May 9th. The shares were purchased at an average price of $14.46 per share, for a total transaction of $274,740.00. Following the acquisition, the director now owns 19,000 shares of the company's stock, valued at approximately $274,740. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 19,124 shares of company stock valued at $235,730 over the last three months. Corporate insiders own 4.50% of the company's stock.

Grocery Outlet 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.