Bank of Nova Scotia Raises Stake in Kroger Co (KR)

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Bank of Nova Scotia boosted its stake in shares of Kroger Co (NYSE:KR) by 246.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 390,948 shares of the company’s stock after acquiring an additional 278,265 shares during the quarter. Bank of Nova Scotia’s holdings in Kroger were worth $11,123,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Landaas & Co. WI ADV acquired a new position in Kroger during the 2nd quarter valued at about $100,000. Bridgeworth LLC acquired a new position in Kroger during the 2nd quarter valued at about $109,000. CSat Investment Advisory L.P. acquired a new position in Kroger during the 2nd quarter valued at about $109,000. Creative Financial Designs Inc. ADV lifted its position in Kroger by 100.2% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 5,170 shares of the company’s stock valued at $147,000 after purchasing an additional 2,587 shares during the period. Finally, Kiley Juergens Wealth Management LLC acquired a new position in Kroger during the 2nd quarter valued at about $173,000. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

In related news, SVP Calvin J. Kaufman sold 10,500 shares of the stock in a transaction that occurred on Thursday, October 11th. The stock was sold at an average price of $27.47, for a total transaction of $288,435.00. Following the completion of the sale, the senior vice president now directly owns 124,688 shares of the company’s stock, valued at approximately $3,425,179.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Erin S. Sharp sold 25,314 shares of the stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $29.00, for a total value of $734,106.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,575 shares of company stock valued at $1,414,369. 1.07% of the stock is owned by company insiders.

Shares of NYSE:KR traded up $0.18 during mid-day trading on Friday, reaching $26.92. The stock had a trading volume of 8,838,383 shares, compared to its average volume of 10,542,735. The company has a market capitalization of $23.21 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 2.10 and a beta of 0.92. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.73 and a quick ratio of 0.26. Kroger Co has a twelve month low of $20.25 and a twelve month high of $32.74.

Kroger (NYSE:KR) last announced its quarterly earnings results on Thursday, September 13th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The business had revenue of $27.87 billion for the quarter, compared to the consensus estimate of $27.95 billion. Kroger had a net margin of 3.05% and a return on equity of 28.05%. Kroger’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the company posted $0.39 EPS. Equities research analysts expect that Kroger Co will post 2.12 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Thursday, November 15th will be paid a dividend of $0.14 per share. The ex-dividend date is Wednesday, November 14th. This represents a $0.56 dividend on an annualized basis and a yield of 2.08%. Kroger’s payout ratio is 27.45%.

KR has been the topic of a number of research reports. Credit Suisse Group set a $31.00 target price on shares of Kroger and gave the company a “hold” rating in a research report on Friday, June 29th. Telsey Advisory Group upped their target price on shares of Kroger from $27.00 to $29.00 and gave the company a “market perform” rating in a research report on Friday, June 22nd. Citigroup restated a “buy” rating and set a $34.00 target price on shares of Kroger in a research report on Tuesday, June 26th. Morgan Stanley cut their target price on shares of Kroger from $28.00 to $27.00 and set a “hold” rating on the stock in a research report on Thursday, September 27th. Finally, Wolfe Research downgraded shares of Kroger from a “market perform” rating to an “underperform” rating in a research report on Monday, June 25th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. Kroger currently has an average rating of “Hold” and a consensus target price of $30.16.

Kroger Profile

The Kroger Co, together with its subsidiaries, operates as a retailer in the United States. It also manufactures and processes food products for sale in its supermarkets. The company operates supermarkets, multi-department stores, jewelry stores, and convenience stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; multi-department stores provide general merchandise items, such as apparel, home fashion and furnishings, outdoor living, electronics, automotive products, toys, and fine jewelry; and price impact warehouse stores offer grocery, and health and beauty care items, as well as meat, dairy, baked goods, and fresh produce items.

Read More: Price to Earnings Ratio (PE)

Institutional Ownership by Quarter for Kroger (NYSE:KR)

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