Glenmede Trust Co. NA Lowers Stake in The Kroger Co. (NYSE:KR)

Glenmede Trust Co. NA trimmed its position in The Kroger Co. (NYSE:KR) by 0.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 338,531 shares of the company’s stock after selling 1,623 shares during the quarter. Glenmede Trust Co. NA’s holdings in Kroger were worth $19,398,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Altshuler Shaham Ltd purchased a new stake in Kroger during the 2nd quarter worth $28,000. Northwest Investment Counselors LLC purchased a new stake in shares of Kroger in the third quarter worth about $34,000. Newbridge Financial Services Group Inc. grew its stake in shares of Kroger by 218.8% in the second quarter. Newbridge Financial Services Group Inc. now owns 714 shares of the company’s stock valued at $36,000 after buying an additional 490 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Kroger during the 3rd quarter valued at about $40,000. Finally, ORG Partners LLC acquired a new position in Kroger during the 2nd quarter worth approximately $42,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Valerie L. Jabbar sold 3,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $55.91, for a total transaction of $167,730.00. Following the completion of the transaction, the senior vice president now owns 74,084 shares in the company, valued at approximately $4,142,036.44. This represents a 3.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Carin L. Fike sold 3,010 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $55.57, for a total transaction of $167,265.70. Following the completion of the sale, the vice president now directly owns 47,593 shares in the company, valued at approximately $2,644,743.01. This trade represents a 5.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,932 shares of company stock valued at $721,243. 1.40% of the stock is currently owned by insiders.

Kroger Price Performance

Shares of NYSE KR opened at $60.50 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.46 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $43.77 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 0.93 and a beta of 0.48. The Kroger Co. has a twelve month low of $42.97 and a twelve month high of $61.18. The business has a 50 day simple moving average of $57.31 and a 200-day simple moving average of $54.37.

Kroger (NYSE:KR) last issued its earnings results on Thursday, September 12th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. Kroger had a net margin of 1.86% and a return on equity of 28.54%. The company had revenue of $33.91 billion for the quarter, compared to analysts’ expectations of $34.09 billion. During the same period in the prior year, the company earned $0.96 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. As a group, equities research analysts expect that The Kroger Co. will post 4.46 earnings per share for the current year.

Kroger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a $0.32 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.12%. Kroger’s payout ratio is currently 33.51%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KR. Morgan Stanley increased their price objective on shares of Kroger from $57.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. Guggenheim raised their price target on shares of Kroger from $61.00 to $63.00 and gave the company a “buy” rating in a report on Monday. Melius Research began coverage on shares of Kroger in a report on Monday, September 23rd. They issued a “hold” rating and a $55.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on Kroger from $58.00 to $59.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Finally, Evercore ISI boosted their price target on Kroger from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.55.

About Kroger

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.