There is good news if you're hoping for an early spring. Famed prognosticator Punxsutawney Phil has predicted a swift end to winter, after failing to see his shadow.

And just to be clear... Punxsutawney Phil is a groundhog.

"And so ye faithful, there is no shadow to see, an early spring for you and me," shouted Bob Roberts, one of Phil's handlers, according to ABC news.

Legend has it that when a groundhog emerges from its burrow on 2 February and sees its shadow, it means that the winter will last for six more weeks. If not, then it indicates the arrival of spring is just around the corner.

Saturday marked the 127th Groundhog Day and thousands of people were seen gathered in the small town of Punxsutawney, Pennsylvania, to witness the ritual of prediction made by Phil. The tradition of celebration of the Groundhog Day was started by Pennsylvania's earliest dwellers and the first official trek to Gobbler's Knob was made on 2 February 2, according to groundhog.org.

"Punxsutawney Phil, the King of the Groundhogs, Seer of Seers, Prognosticator of Prognosticators, Weather Prophet without Peer, was awakened from his borrow at 7:28 a.m. with a tap of the President's cane," announced the Groundhog Club, according to Livescience.com .

When asked if Phil's predictions had any weight, Bill Deeley, who is president of the Groundhog Club's Inner Circle, said: "He's pretty darn accurate. He sees his shadow about 80 percent of the time and the other 20 percent he doesn't."

The onlookers of the ritual were seen dressed up in top hats and tuxedos, while some others wore heavy coats to fight the cold.

Scroll down to see pictures of Groundhog Day...

Jason Grusky, also known as The Big Chill and a member of the Inner Circle of the Groundhog Club, wears a thermometer showing the current low temperatures on the 127th Groundhog Day in Punxsutawney, Pennsylvania, February 2, 2013, as crowds wait for the weather-prognosticating groundhog Punxsutawney Phil on Gobbler's Knob.REUTERS/Jason Cohn
Fred Ungar (L) of York, Pennsylvania and Barry Edwards of Lancaster, Pennsylvania joke around while waiting for the weather-prognosticating groundhog, Punxsutawney Phil, to make his annual prediction on Gobbler's Knob in Punxsutawney, Pennsylvania, on the 127th Groundhog Day February 2, 2013.REUTERS/Jason Cohn
Groundhog co-handler Ron Ploucha reacts after hearing famed weather prognosticating groundhog Punxsutawney Phil's annual prediction on Gobbler's Knob in Punxsutawney, Pennsylvania, on the 127th Groundhog Day, February 2, 2013. An early spring was predicted as Phil did not see his shadow.REUTERS/Jason Cohn
Famed weather prognosticating groundhog Punxsutawney Phil has only one eye open as he prepares to make his annual prediction on Gobbler's Knob in Punxsutawney, Pennsylvania, on the 127th Groundhog Day, February 2, 2013. An early spring was predicted as Phil did not see his shadow.REUTERS/Jason Cohn
Groundhog co-handler Ron Ploucha holds Punxsutawney Phil in front of a record crowd estimated at 35,000 after Phil's annual weather prediction on Gobbler's Knob in Punxsutawney, Pennsylvania, on the 127th Groundhog Day, February 2, 2013. Phil did not see his shadow signaling an early end to winter.REUTERS/Jason Cohn
Groundhog co-handler Ron Ploucha holds famed weather prognosticating groundhog Punxsutawney Phil as he prepares to make his annual prediction on Gobbler's Knob in Punxsutawney, Pennsylvania, on the 127th Groundhog Day, February 2, 2013. Phil did not see his shadow signaling an early end to winter.REUTERS/Jason Cohn
roundhog Club President Bill Deeley listens to Punxsutawney Phil's annual weather prediction on Gobbler's Knob in Punxsutawney, Pennsylvania, on the 127th Groundhog Day, February 2, 2013. Phil did not see his shadow signaling an early end to winter.REUTERS/Jason Cohn
Groundhog co-handler Ron Ploucha (R) holds Punxsutawney Phil as the Groundhog Club's Bob Roberts (L) reads the famous groundhog's annual weather prediction on Gobbler's Knob in Punxsutawney, Pennsylvania, on the 127th Groundhog Day, February 2, 2013. Phil did not see his shadow signaling an early end to winter.REUTERS/Jason Cohn
Groundhog co-handler Ron Ploucha holds famed weather prognosticating groundhog Punxsutawney Phil as he prepares to make his annual prediction on Gobbler's Knob in Punxsutawney, Pennsylvania, on the 127th Groundhog Day, February 2, 2013. Phil did not see his shadow signaling an early end to winter.REUTERS/Jason Cohn
ayor John Close listens to Wiarton Willie during Groundhog Day celebrations in Wiarton, Ontario, February 2, 2013. Willie did not see his shadow signaling an early spring.REUTERS/Geoff Robins
Nancy McConnell of Tallahassee, Florida holds a toy groundhog during Groundhog Day celebrations in Wiarton, Ontario February 2, 2013. Groundhog Wiarton Willie did not see his shadow signaling an early spring.REUTERS/Geoff Robins