State Board of Administration of Florida Retirement System increased its stake in shares of Kroger Co (NYSE:KR) by 6.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,235,889 shares of the company’s stock after acquiring an additional 69,654 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Kroger were worth $41,835,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KR. Virtu Financial LLC bought a new position in Kroger during the 2nd quarter valued at about $627,000. Rafferty Asset Management LLC purchased a new stake in shares of Kroger in the second quarter worth $304,000. Northwest Bancshares Inc. grew its stake in shares of Kroger by 23.7% in the second quarter. Northwest Bancshares Inc. now owns 9,125 shares of the company’s stock worth $309,000 after acquiring an additional 1,750 shares during the last quarter. Pendal Group Ltd grew its stake in shares of Kroger by 131.1% in the second quarter. Pendal Group Ltd now owns 108,293 shares of the company’s stock worth $3,666,000 after acquiring an additional 61,443 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Kroger by 20.3% in the second quarter. Fisher Asset Management LLC now owns 46,413 shares of the company’s stock worth $1,571,000 after acquiring an additional 7,826 shares during the last quarter. 77.77% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on the company. ValuEngine raised Kroger from a “strong sell” rating to a “sell” rating in a research note on Monday, August 3rd. Goldman Sachs Group assumed coverage on Kroger in a research note on Tuesday, July 21st. They issued a “neutral” rating and a $36.00 target price on the stock. Bank of America increased their target price on Kroger from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Zacks Investment Research cut Kroger from a “buy” rating to a “hold” rating and set a $37.00 target price on the stock. in a research note on Tuesday, August 11th. Finally, UBS Group increased their price objective on Kroger from $33.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, June 15th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $34.21.
In related news, VP Todd A. Foley sold 11,000 shares of Kroger stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $33.33, for a total transaction of $366,630.00. Following the sale, the vice president now owns 42,598 shares of the company’s stock, valued at approximately $1,419,791.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO W Rodney Mcmullen sold 85,381 shares of Kroger stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $31.97, for a total value of $2,729,630.57. Following the sale, the chief executive officer now directly owns 3,097,481 shares in the company, valued at approximately $99,026,467.57. The disclosure for this sale can be found here. Insiders sold 256,797 shares of company stock worth $8,632,086 in the last ninety days. Corporate insiders own 1.34% of the company’s stock.
NYSE:KR traded down $0.01 on Friday, hitting $35.91. The stock had a trading volume of 122,035 shares, compared to its average volume of 6,043,883. The stock has a market cap of $28.18 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 2.32 and a beta of 0.37. The company has a quick ratio of 0.40, a current ratio of 0.83 and a debt-to-equity ratio of 2.02. The business’s 50-day simple moving average is $34.47 and its two-hundred day simple moving average is $32.12. Kroger Co has a 52-week low of $23.02 and a 52-week high of $36.88.
Kroger (NYSE:KR) last posted its quarterly earnings data on Thursday, June 18th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.12 by $0.10. Kroger had a return on equity of 24.62% and a net margin of 1.66%. The firm had revenue of $41.55 billion for the quarter, compared to the consensus estimate of $40.92 billion. During the same quarter last year, the company earned $0.72 earnings per share. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Kroger Co will post 2.84 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.88 annualized dividend and a dividend yield of 8.02%. This is an increase from Kroger’s previous quarterly dividend of $0.16. Kroger’s dividend payout ratio (DPR) is 32.73%.
The Kroger Co operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.
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