Grisanti Capital Management LLC Invests $466,000 in Kroger Company (The) (NYSE:KR)

Grisanti Capital Management LLC bought a new stake in shares of Kroger Company (The) (NYSE:KR) during the second quarter, Holdings Channel reports. The institutional investor bought 20,000 shares of the company’s stock, valued at approximately $466,000.

Several other large investors have also recently modified their holdings of the stock. Aldebaran Financial Inc. increased its stake in shares of Kroger Company (The) by 0.6% in the first quarter. Aldebaran Financial Inc. now owns 14,130 shares of the company’s stock valued at $417,000 after buying an additional 78 shares in the last quarter. Cadence Capital Management LLC increased its stake in shares of Kroger Company (The) by 0.7% in the first quarter. Cadence Capital Management LLC now owns 19,717 shares of the company’s stock valued at $581,000 after buying an additional 143 shares in the last quarter. YorkBridge Wealth Partners LLC increased its stake in shares of Kroger Company (The) by 4.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 4,323 shares of the company’s stock valued at $125,000 after buying an additional 171 shares in the last quarter. Savant Capital LLC increased its stake in shares of Kroger Company (The) by 1.7% in the first quarter. Savant Capital LLC now owns 10,527 shares of the company’s stock valued at $310,000 after buying an additional 171 shares in the last quarter. Finally, Peapack Gladstone Financial Corp increased its stake in shares of Kroger Company (The) by 1.7% in the first quarter. Peapack Gladstone Financial Corp now owns 11,189 shares of the company’s stock valued at $330,000 after buying an additional 189 shares in the last quarter. Institutional investors own 77.44% of the company’s stock.

Shares of Kroger Company (NYSE:KR) opened at 23.49 on Friday. The stock has a 50 day moving average price of $23.43 and a 200-day moving average price of $28.42. The company has a market capitalization of $21.08 billion, a PE ratio of 14.14 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) (NYSE:KR) last posted its quarterly earnings data on Thursday, June 15th. The company reported $0.58 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.58. The company had revenue of $36.29 billion for the quarter, compared to analyst estimates of $35.69 billion. Kroger Company (The) had a return on equity of 29.10% and a net margin of 1.35%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.70 earnings per share. Equities research analysts expect that Kroger Company will post $1.98 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be paid a $0.125 dividend. This is a positive change from Kroger Company (The)’s previous quarterly dividend of $0.12. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, August 11th. Kroger Company (The)’s payout ratio is currently 28.92%.

Kroger Company (The) announced that its Board of Directors has authorized a share buyback program on Thursday, June 22nd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 4.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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KR has been the topic of several research reports. BMO Capital Markets set a $32.00 price target on shares of Kroger Company (The) and gave the stock a “hold” rating in a research report on Saturday, June 10th. UBS AG reiterated a “neutral” rating and set a $27.00 price target (down previously from $32.00) on shares of Kroger Company (The) in a research report on Friday, June 16th. Stephens initiated coverage on shares of Kroger Company (The) in a research report on Friday. They set an “underweight” rating and a $20.00 price target on the stock. Bank of America Corporation downgraded shares of Kroger Company (The) from a “buy” rating to a “neutral” rating in a research report on Thursday, June 15th. Finally, Loop Capital reiterated a “hold” rating and set a $32.00 price target on shares of Kroger Company (The) in a research report on Wednesday, May 24th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $30.09.

In related news, Director Susan M. Phillips sold 6,200 shares of Kroger Company (The) stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $21.17, for a total value of $131,254.00. Following the transaction, the director now directly owns 124,105 shares of the company’s stock, valued at $2,627,302.85. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider J Michael Schlotman acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was bought at an average cost 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 owned by 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.

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Institutional Ownership by Quarter for Kroger Company (The) (NYSE:KR)

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