Murphy Capital Management Inc. Purchases 720 Shares of Kroger Company (The) (KR)

Murphy Capital Management Inc. boosted its stake in shares of Kroger Company (The) (NYSE:KR) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,116 shares of the company’s stock after buying an additional 720 shares during the period. Murphy Capital Management Inc.’s holdings in Kroger Company (The) were worth $772,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Court Place Advisors LLC increased its position in Kroger Company (The) by 7.2% in the second quarter. Court Place Advisors LLC now owns 31,189 shares of the company’s stock worth $727,000 after buying an additional 2,083 shares during the last quarter. Osborn Williams & Donohoe LLC increased its position in Kroger Company (The) by 49.5% in the second quarter. Osborn Williams & Donohoe LLC now owns 273,041 shares of the company’s stock worth $6,367,000 after buying an additional 90,428 shares during the last quarter. Patriot Wealth Management Inc. increased its position in Kroger Company (The) by 3.4% in the second quarter. Patriot Wealth Management Inc. now owns 176,088 shares of the company’s stock worth $4,106,000 after buying an additional 5,864 shares during the last quarter. Howard Capital Management increased its position in Kroger Company (The) by 2.5% in the second quarter. Howard Capital Management now owns 261,619 shares of the company’s stock worth $6,101,000 after buying an additional 6,390 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in Kroger Company (The) by 2.9% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 21,528 shares of the company’s stock worth $502,000 after buying an additional 611 shares during the last quarter. 77.42% of the stock is owned by hedge funds and other institutional investors.

Kroger Company (NYSE KR) traded down 2.416% during mid-day trading on Thursday, reaching $24.035. 8,853,623 shares of the company’s stock traded hands. The stock’s 50 day moving average is $23.58 and its 200-day moving average is $28.89. The stock has a market capitalization of $21.57 billion, a PE ratio of 14.470 and a beta of 0.76. Kroger Company has a 52 week low of $20.46 and a 52 week high of $36.44. Kroger Company (The) also was the recipient of some unusual options trading activity on Monday. Stock investors acquired 9,005 put options on the stock. This is an increase of approximately 204% compared to the typical daily volume of 2,965 put options.

Kroger Company (The) (NYSE:KR) last released its quarterly earnings data on Thursday, June 15th. The company reported $0.58 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.58. Kroger Company (The) had a net margin of 1.35% and a return on equity of 29.10%. The company had revenue of $36.29 billion for the quarter, compared to analysts’ expectations of $35.69 billion. During the same quarter last year, the company earned $0.70 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities analysts anticipate that Kroger Company will post $1.98 EPS for the current year.

Kroger Company (The) declared that its Board of Directors has authorized a stock repurchase plan on Thursday, June 22nd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 4.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.50 dividend on an annualized basis and a yield of 2.03%. This is a boost from Kroger Company (The)’s previous quarterly dividend of $0.12. Kroger Company (The)’s dividend payout ratio (DPR) is presently 28.92%.

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A number of equities analysts recently issued reports on the stock. BidaskClub raised shares of Kroger Company (The) from a “sell” rating to a “hold” rating in a research note on Monday. Vetr downgraded shares of Kroger Company (The) from a “strong-buy” rating to a “buy” rating and set a $26.26 price target for the company. in a research note on Tuesday, July 25th. Royal Bank Of Canada set a $34.00 target price on shares of Kroger Company (The) and gave the company a “buy” rating in a research note on Tuesday, July 18th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $28.00 target price on shares of Kroger Company (The) in a research note on Sunday, July 2nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $25.00 target price (down previously from $26.00) on shares of Kroger Company (The) in a research note on Friday, June 23rd. Nineteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $30.51.

In other news, insider Michael Joseph Donnelly sold 17,600 shares of Kroger Company (The) stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $30.01, for a total value of $528,176.00. Following the transaction, the insider now directly owns 249,208 shares of the company’s stock, valued at approximately $7,478,732.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider J Michael Schlotman acquired 2,000 shares of the stock in a transaction that occurred on Monday, June 26th. The stock was purchased at an average price of $22.73 per share, for a total transaction of $45,460.00. The disclosure for this purchase can be found here. 0.85% of the stock is currently owned by company insiders.

Kroger Company (The) Company Profile

The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.