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

Mackenzie Financial Corp raised its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO) by 4.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,926,336 shares of the company’s stock after buying an additional 216,257 shares during the period. Mackenzie Financial Corp owned about 4.96% of Grocery Outlet worth $132,814,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. WCM Investment Management LLC grew its position in shares of Grocery Outlet by 4.8% during the 4th quarter. WCM Investment Management LLC now owns 946,674 shares of the company’s stock valued at $25,532,000 after acquiring an additional 43,352 shares during the period. Hsbc Holdings PLC grew its position in shares of Grocery Outlet by 1,410.7% during the 3rd quarter. Hsbc Holdings PLC now owns 138,349 shares of the company’s stock valued at $3,983,000 after acquiring an additional 129,191 shares during the period. State of Michigan Retirement System grew its position in shares of Grocery Outlet by 6.8% during the 3rd quarter. State of Michigan Retirement System now owns 23,580 shares of the company’s stock valued at $680,000 after acquiring an additional 1,500 shares during the period. Barclays PLC grew its position in shares of Grocery Outlet by 88.6% during the 3rd quarter. Barclays PLC now owns 100,361 shares of the company’s stock valued at $2,897,000 after acquiring an additional 47,140 shares during the period. Finally, 12 West Capital Management LP boosted its holdings in Grocery Outlet by 50.0% in the 3rd quarter. 12 West Capital Management LP now owns 300,000 shares of the company’s stock worth $8,655,000 after buying an additional 100,000 shares during the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Grocery Outlet Stock Up 0.8 %

Shares of NASDAQ GO opened at $26.49 on Tuesday. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 33.53, a PEG ratio of 2.53 and a beta of 0.10. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 0.24. Grocery Outlet Holding Corp. has a 52-week low of $23.41 and a 52-week high of $36.54. The business’s 50 day moving average is $26.72 and its two-hundred day moving average is $27.22.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The business had revenue of $989.82 million during the quarter, compared to the consensus estimate of $982.44 million. Grocery Outlet had a net margin of 2.00% and a return on equity of 7.17%. Research analysts predict that Grocery Outlet Holding Corp. will post 0.95 EPS for the current year.

Insiders Place Their Bets

In related news, Director Thomas F. Herman sold 1,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $29.00, for a total transaction of $29,000.00. Following the completion of the transaction, the director now owns 10,400 shares in the company, valued at $301,600. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Thomas F. Herman sold 2,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $29.00, for a total transaction of $58,000.00. Following the completion of the transaction, the director now owns 11,400 shares in the company, valued at $330,600. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas F. Herman sold 1,000 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $29.00, for a total transaction of $29,000.00. Following the completion of the transaction, the director now owns 10,400 shares of the company’s stock, valued at approximately $301,600. The disclosure for this sale can be found here. Insiders sold a total of 506,588 shares of company stock worth $13,367,577 over the last 90 days. Corporate insiders own 6.20% of the company’s stock.

Analyst Ratings Changes

GO has been the topic of several research analyst reports. Telsey Advisory Group lowered their price objective on Grocery Outlet from $40.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. UBS Group lowered their price objective on Grocery Outlet from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Finally, Craig Hallum upgraded Grocery Outlet from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Grocery Outlet presently has a consensus rating of “Hold” and a consensus target price of $31.44.

About Grocery Outlet

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.