440 Investment Group LLC cut its stake in Kroger Company (The) (NYSE:KR) by 10.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 17,544 shares of the company’s stock after selling 2,000 shares during the period. 440 Investment Group LLC’s holdings in Kroger Company (The) were worth $409,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of KR. Grisanti Capital Management LLC purchased a new stake in Kroger Company (The) during the second quarter valued at about $466,000. Wedbush Securities Inc. purchased a new stake in Kroger Company (The) during the second quarter valued at about $243,000. Sigma Planning Corp boosted its stake in Kroger Company (The) by 81.1% in the second quarter. Sigma Planning Corp now owns 37,516 shares of the company’s stock valued at $875,000 after buying an additional 16,799 shares during the last quarter. Rhumbline Advisers boosted its stake in Kroger Company (The) by 0.6% in the second quarter. Rhumbline Advisers now owns 1,531,086 shares of the company’s stock valued at $35,705,000 after buying an additional 9,346 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in Kroger Company (The) by 39.3% in the second quarter. Teacher Retirement System of Texas now owns 766,421 shares of the company’s stock valued at $17,873,000 after buying an additional 216,269 shares during the last quarter. Institutional investors own 77.44% of the company’s stock.
Kroger Company (NYSE:KR) opened at 23.49 on Friday. The company’s 50 day moving average is $23.43 and its 200-day moving average is $28.42. The firm has a market cap of $21.08 billion, a P/E 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 released its quarterly earnings results on Thursday, June 15th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.58. Kroger Company (The) had a net margin of 1.35% and a return on equity of 29.10%. The firm had revenue of $36.29 billion for the quarter, compared to the consensus estimate of $35.69 billion. During the same quarter in the previous year, the firm posted $0.70 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Equities analysts expect that Kroger Company will post $1.98 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be paid a dividend of $0.125 per share. This is an increase from Kroger Company (The)’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.50 annualized dividend and a yield of 2.13%. Kroger Company (The)’s payout ratio is 28.92%.
Kroger Company (The) announced that its board has authorized a stock buyback program on Thursday, June 22nd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 4.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
Several research firms recently issued reports on KR. Stephens began coverage on Kroger Company (The) in a report on Friday. They issued an “underweight” rating and a $20.00 price objective on the stock. Vetr upgraded Kroger Company (The) from a “buy” rating to a “strong-buy” rating and set a $27.01 price objective on the stock in a report on Wednesday. BidaskClub upgraded Kroger Company (The) from a “hold” rating to a “buy” rating in a report on Wednesday. Royal Bank Of Canada set a $34.00 target price on Kroger Company (The) and gave the stock a “buy” rating in a report on Tuesday, July 18th. Finally, Wells Fargo & Company restated an “outperform” rating and set a $28.00 target price on shares of Kroger Company (The) in a report on Sunday, July 2nd. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Kroger Company (The) currently has a consensus rating of “Hold” and a consensus target price of $30.09.
In related news, insider J Michael Schlotman bought 2,000 shares of the company’s stock in a transaction dated Monday, June 26th. The stock was bought at an average price of $22.73 per share, with a total value of $45,460.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Susan M. Phillips sold 6,200 shares of the business’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $21.17, for a total transaction of $131,254.00. Following the completion of the sale, the director now directly owns 124,105 shares of the company’s stock, valued at approximately $2,627,302.85. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.
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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