Mackenzie Financial Corp Purchases 216,257 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Mackenzie Financial Corp raised its holdings in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 4.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,926,336 shares of the company's stock after acquiring an additional 216,257 shares during the quarter. Mackenzie Financial Corp owned approximately 4.96% of Grocery Outlet worth $132,814,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GO. Captrust Financial Advisors grew its stake in shares of Grocery Outlet by 58.1% in the second quarter. Captrust Financial Advisors now owns 762 shares of the company's stock valued at $32,000 after buying an additional 280 shares in the last quarter. CWM LLC grew its stake in shares of Grocery Outlet by 248.0% in the third quarter. CWM LLC now owns 1,399 shares of the company's stock valued at $40,000 after buying an additional 997 shares in the last quarter. Dark Forest Capital Management LP bought a new position in shares of Grocery Outlet in the first quarter valued at $55,000. State of Wyoming grew its stake in shares of Grocery Outlet by 78.7% in the fourth quarter. State of Wyoming now owns 2,012 shares of the company's stock valued at $59,000 after buying an additional 886 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in shares of Grocery Outlet in the fourth quarter valued at $72,000. 99.87% of the stock is owned by institutional investors.

Grocery Outlet Trading Up 1.6 %

GO stock traded up $0.42 during trading on Tuesday, hitting $26.91. The company had a trading volume of 1,427,098 shares, compared to its average volume of 1,258,500. The business has a 50-day moving average of $26.72 and a 200-day moving average of $27.22. Grocery Outlet Holding Corp. has a one year low of $23.41 and a one year high of $36.54. The stock has a market cap of $2.67 billion, a PE ratio of 34.16, a PEG ratio of 2.53 and a beta of 0.10. The company has a current ratio of 1.35, a quick ratio of 0.43 and a debt-to-equity ratio of 0.24.

Grocery Outlet (NASDAQ:GO - Get Free Report) last issued its earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. Grocery Outlet had a return on equity of 7.17% and a net margin of 2.00%. The company had revenue of $989.82 million for the quarter, compared to analyst estimates of $982.44 million. Research analysts predict that Grocery Outlet Holding Corp. will post 0.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GO shares. Telsey Advisory Group reduced their price objective on shares of Grocery Outlet from $40.00 to $37.00 and set an "outperform" rating for the company in a research report on Wednesday, February 28th. UBS Group reduced their price objective on shares of Grocery Outlet from $32.00 to $30.00 and set a "neutral" rating for the company in a research report on Wednesday, February 28th. Finally, Craig Hallum raised shares of Grocery Outlet from a "hold" rating to a "buy" rating and set a $36.00 price objective for the company in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Grocery Outlet presently has a consensus rating of "Hold" and a consensus target price of $31.44.

Insider Transactions at Grocery Outlet

In related news, insider Andrea Renee Bortner sold 5,522 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $25.83, for a total value of $142,633.26. Following the completion of the sale, the insider now directly owns 43,786 shares of the company's stock, valued at approximately $1,130,992.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 300,000 shares of the company's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $26.16, for a total value of $7,848,000.00. Following the completion of the transaction, the director now owns 107,123 shares in the company, valued at approximately $2,802,337.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrea Renee Bortner sold 5,522 shares of the company's stock in a transaction on Friday, March 8th. The shares were sold at an average price of $25.83, for a total value of $142,633.26. Following the completion of the transaction, the insider now owns 43,786 shares of the company's stock, valued at approximately $1,130,992.38. The disclosure for this sale can be found here. Insiders have sold 506,588 shares of company stock valued at $13,367,577 over the last ninety days. 6.20% of the stock is owned by company insiders.

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.