Headlands Technologies LLC acquired a new position in shares of The Kroger Co. (NYSE:KR – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,029 shares of the company’s stock, valued at approximately $1,200,000.
Several other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Kroger during the 4th quarter worth about $229,863,000. Maj Invest Holding A S bought a new stake in Kroger in the first quarter worth approximately $185,913,000. Sanders Capital LLC lifted its stake in Kroger by 5.0% in the fourth quarter. Sanders Capital LLC now owns 23,786,389 shares of the company’s stock valued at $1,087,276,000 after buying an additional 1,123,427 shares during the period. State of Michigan Retirement System boosted its holdings in shares of Kroger by 337.4% during the 2nd quarter. State of Michigan Retirement System now owns 922,487 shares of the company’s stock worth $46,060,000 after buying an additional 711,600 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Kroger by 127.2% in the 2nd quarter. National Bank of Canada FI now owns 1,194,137 shares of the company’s stock valued at $60,333,000 after acquiring an additional 668,440 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.
Kroger Trading Up 0.6 %
NYSE KR opened at $52.30 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.45 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $37.75 billion, a P/E ratio of 17.85, a PEG ratio of 0.81 and a beta of 0.47. The business has a fifty day simple moving average of $53.19 and a 200 day simple moving average of $53.56. The Kroger Co. has a 12 month low of $42.10 and a 12 month high of $58.34.
Kroger Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a dividend of $0.32 per share. This is a positive change from Kroger’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Thursday, August 15th. Kroger’s dividend payout ratio (DPR) is 43.69%.
Analyst Ratings Changes
Several brokerages recently issued reports on KR. JPMorgan Chase & Co. cut their target price on shares of Kroger from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. BMO Capital Markets raised shares of Kroger from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $58.00 to $60.00 in a research report on Tuesday, June 18th. Evercore ISI dropped their price target on Kroger from $61.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. Argus raised their price objective on Kroger from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Morgan Stanley lowered their target price on Kroger from $58.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Kroger presently has a consensus rating of “Moderate Buy” and an average target price of $58.64.
View Our Latest Report on Kroger
Insider Buying and Selling at Kroger
In other news, VP Brian W. Nichols sold 2,000 shares of Kroger stock in a transaction on Friday, July 19th. The stock was sold at an average price of $54.53, for a total transaction of $109,060.00. Following the sale, the vice president now directly owns 18,063 shares in the company, valued at approximately $984,975.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.
Kroger Company Profile
The Kroger Co operates as a food and drug retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. 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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