TD Asset Management Inc Lowers Stake in The Kroger Co. $KR

TD Asset Management Inc lessened its position in shares of The Kroger Co. (NYSE:KR) by 12.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 233,112 shares of the company’s stock after selling 32,092 shares during the period. TD Asset Management Inc’s holdings in Kroger were worth $14,565,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KR. Wellington Management Group LLP grew its position in Kroger by 61.1% during the third quarter. Wellington Management Group LLP now owns 33,367,551 shares of the company’s stock valued at $2,249,307,000 after acquiring an additional 12,652,261 shares during the period. Norges Bank purchased a new stake in Kroger during the fourth quarter valued at about $470,561,000. Worldquant Millennium Advisors LLC grew its position in Kroger by 299.6% during the second quarter. Worldquant Millennium Advisors LLC now owns 2,420,495 shares of the company’s stock valued at $173,622,000 after acquiring an additional 1,814,721 shares during the period. Raymond James Financial Inc. grew its position in Kroger by 95.6% during the second quarter. Raymond James Financial Inc. now owns 2,434,663 shares of the company’s stock valued at $174,638,000 after acquiring an additional 1,190,127 shares during the period. Finally, Alyeska Investment Group L.P. lifted its stake in shares of Kroger by 51.0% during the third quarter. Alyeska Investment Group L.P. now owns 2,991,513 shares of the company’s stock worth $201,658,000 after purchasing an additional 1,010,457 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Kroger Trading Down 1.0%

NYSE:KR opened at $62.95 on Tuesday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.42 and a current ratio of 0.80. The Kroger Co. has a one year low of $58.60 and a one year high of $76.58. The business’s 50-day simple moving average is $67.35 and its 200 day simple moving average is $66.60. The stock has a market cap of $38.57 billion, a price-to-earnings ratio of 41.14, a price-to-earnings-growth ratio of 1.69 and a beta of 0.43.

Kroger Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a $0.35 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.40 annualized dividend and a dividend yield of 2.2%. Kroger’s payout ratio is 91.50%.

Analyst Ratings Changes

A number of brokerages have commented on KR. Roth Mkm restated a “buy” rating and set a $78.00 price objective (up from $75.00) on shares of Kroger in a research note on Friday, March 6th. Wells Fargo & Company cut Kroger from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $70.00 to $68.00 in a research note on Wednesday, February 25th. Wall Street Zen upgraded Kroger from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. Citigroup boosted their price objective on Kroger from $68.00 to $71.00 and gave the stock a “neutral” rating in a research note on Monday, March 9th. Finally, Wolfe Research restated an “outperform” rating and set a $75.00 price objective on shares of Kroger in a research note on Thursday, March 5th. Nine investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $74.73.

Kroger Profile

The Kroger Co (NYSE: KR) is one of the largest supermarket operators in the United States, offering a wide range of retail grocery and related services. Founded in Cincinnati in 1883 by Bernard Kroger, the company operates a portfolio of supermarket and multi-department store banners and provides customers with fresh foods, packaged groceries, deli and bakery items, meat and seafood, produce, and prepared foods. Kroger’s stores commonly include pharmacy services and fuel centers, positioning the company as a broad-based neighborhood retail destination for everyday needs.

In addition to traditional in-store retailing, Kroger manufactures and distributes a variety of private-label brands and operates its own food production and supply-chain facilities.