Carnegie Capital Asset Management LLC reduced its stake in shares of The Kroger Co. (NYSE:KR – Get a rating) by 19.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor held 3,725 shares of the company after selling 900 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Kroger were worth $214,000 at the end of the last reporting period.
Other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. increased its position in Kroger shares by 68.9% during the 1st quarter. Pacer Advisors Inc. now owns 64,961 shares of the company worth $3,727,000 after purchasing an additional 26,493 shares during the period. Wedge Capital Management LLP NC increased its position in Kroger shares by 3.6% during the 4th quarter. Wedge Capital Management LLP NC now owns 756,826 shares of the company worth $34,254,000 after purchasing an additional 25,968 shares during the period. RBA Wealth Management LLC bought a new position in Kroger stock during Q4 worth approximately $240,000. AlphaCrest Capital Management LLC increased its position in Kroger shares by 83.2% during the 4th quarter. AlphaCrest Capital Management LLC now owns 41,385 shares of the company worth $1,873,000 after purchasing an additional 18,792 shares during the period. Finally, Parametric Portfolio Associates LLC increased its position in Kroger shares by 0.5% during the 4th quarter. Parametric Portfolio Associates LLC now owns 6,564,640 shares of the company worth $297,116,000 after purchasing an additional 33,929 shares during the period. Institutional investors and hedge funds hold 81.52% of the company’s shares.
Several research companies have recently commented on KR. JPMorgan Chase & Co. raised its price target on Kroger from $44.00 to $45.00 in a Friday, February 25 research report. BNP Paribas upgraded Kroger from an “underperforming” rating to a “neutral” rating and set a price target of $60.00 for the company in a Friday, April 22 report. Guggenheim reaffirmed a “buy” rating and set a price target of $57.00 on Kroger shares in a Friday, June 17 report. Scotiabank raised its price target on Kroger from $60.00 to $64.00 in a Thursday, March 10 report. To finish, StockNews.com began covering Kroger in a report on Thursday, March 31. They established a “Strong Buy” rating for the company. Five research analysts have rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating for the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $52.22.
In other Kroger news, please Yael Cosset sold 34,812 shares of Kroger in a trade dated Thursday, April 7. The stock was sold at an average price of $59.50, for a total transaction of $2,071,314.00. Following the transaction, the Senior Vice President now directly owns 162,207 shares of the company, valued at $9,651,316.50. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. Also, please Timothy A. Massa sold 50,283 shares of the company in a transaction dated Thursday, April 21. The shares were sold at an average price of $58.03, for a total value of $2,917,922.49. Following the completion of the sale, the senior vice president now owns 163,956 shares of the company, valued at $9,514,366.68. Disclosure of this sale can be found here. Insiders own 1.35% of the shares of the company.
NYSE:KR opened at $48.45 on Friday. The Kroger Co. has a 12-month low of $37.26 and a 12-month high of $62.78. The company has a quick ratio of 0.30, a current ratio of 0.76 and a leverage ratio of 1.39. The company has a market capitalization of $34.93 billion, a P/E ratio of 16.71, a P/E/G ratio of 1.07 and a beta of 0.49. The stock’s fifty-day simple moving average is $52.44 and its 200-day simple moving average is $50.69.
Kroger (NYSE:KR – Get a rating) last released its quarterly results on Thursday, June 16. The company reported earnings per share (EPS) of $1.45 for the quarter, beating the consensus estimate of $1.27 by $0.18. Kroger had a return on equity of 31.50% and a net margin of 1.54%. During the same period last year, the company posted EPS of $1.19. As a group, equity research analysts expect The Kroger Co. to post earnings per share of 3.9 for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1. Shareholders of record on Monday, August 15 will receive a dividend of $1.04 per share. The ex-dividend date is Friday, August 12. This is a positive change from Kroger’s previous quarterly dividend of $0.21. This represents an annualized dividend of $4.16 and a yield of 8.59%. Kroger’s payout ratio is currently 28.97%.
Kroger Company Profile (Get a rating)
The Kroger Co operates as a retailer in the United States. The Company operates food and drug stores, multi-department stores, market stores and price impact warehouses. Its food and pharmacy stores offer natural and organic food sections, pharmacies, general merchandise, pet centers, fresh seafood and organic products; and multi-department stores offer clothing, fashion and home furnishings, outdoor goods, electronics, automotive products and toys.
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