State of Tennessee Treasury Department reduced its position in shares of Kroger Company (The) (NYSE:KR) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 369,608 shares of the company’s stock after selling 2,661 shares during the period. State of Tennessee Treasury Department’s holdings in Kroger Company (The) were worth $8,619,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in KR. Signature Estate & Investment Advisors LLC bought a new position in Kroger Company (The) during the first quarter valued at about $102,000. Advantage Investment Management LLC lifted its holdings in shares of Kroger Company (The) by 15.8% during the first quarter. Advantage Investment Management LLC now owns 3,682 shares of the company’s stock valued at $109,000 after purchasing an additional 502 shares during the last quarter. YorkBridge Wealth Partners LLC lifted its holdings in shares of Kroger Company (The) by 4.1% during the first quarter. YorkBridge Wealth Partners LLC now owns 4,323 shares of the company’s stock valued at $125,000 after purchasing an additional 171 shares during the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Kroger Company (The) during the second quarter valued at $105,000. Finally, Cedar Wealth Management LLC lifted its holdings in shares of Kroger Company (The) by 155.9% during the second quarter. Cedar Wealth Management LLC now owns 4,990 shares of the company’s stock valued at $116,000 after purchasing an additional 3,040 shares during the last quarter. 75.52% of the stock is owned by institutional investors.
Several brokerages recently issued reports on KR. BMO Capital Markets set a $32.00 price objective on Kroger Company (The) and gave the stock a “hold” rating in a research note on Saturday, June 10th. UBS AG reissued a “neutral” rating and issued a $27.00 price objective (down from $32.00) on shares of Kroger Company (The) in a research note on Friday, June 16th. Jefferies Group LLC dropped their target price on Kroger Company (The) from $24.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, September 11th. Bank of America Corporation lowered Kroger Company (The) from a “buy” rating to a “neutral” rating in a research report on Thursday, June 15th. Finally, Morgan Stanley lowered Kroger Company (The) from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $40.00 to $30.00 in a research report on Monday, June 19th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Kroger Company (The) has an average rating of “Hold” and an average price target of $28.58.
In other Kroger Company (The) news, insider J Michael Schlotman acquired 2,000 shares of Kroger Company (The) stock in a transaction that occurred on Monday, June 26th. The stock was acquired at an average cost of $22.73 per share, for a total transaction of $45,460.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.85% of the company’s stock.
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Kroger Company (NYSE:KR) opened at 20.15 on Friday. Kroger Company has a 12-month low of $20.04 and a 12-month high of $36.44. The company has a market capitalization of $17.99 billion, a price-to-earnings ratio of 12.19 and a beta of 0.79. The firm’s 50-day moving average price is $22.65 and its 200 day moving average price is $26.28.
Kroger Company (The) (NYSE:KR) last posted its earnings results on Friday, September 8th. The company reported $0.39 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. The firm had revenue of $27.60 billion for the quarter, compared to analysts’ expectations of $27.48 billion. Kroger Company (The) had a net margin of 1.32% and a return on equity of 28.04%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 EPS. On average, analysts expect that Kroger Company will post $1.97 earnings per share for the current year.
Kroger Company (The) announced that its board has initiated a share repurchase program on Thursday, June 22nd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 4.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.48%. Kroger Company (The)’s dividend payout ratio (DPR) is presently 30.30%.
About Kroger Company (The)
The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.
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