Manchester Capital Management LLC Continues to Hold Stake in Kroger Company (The) (NYSE:KR)

Manchester Capital Management LLC continued to hold its position in shares of Kroger Company (The) (NYSE:KR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,506 shares of the company’s stock at the close of the second quarter. Manchester Capital Management LLC’s holdings in Kroger Company (The) were worth $105,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC acquired a new position in Kroger Company (The) in the 1st quarter valued at $102,000. Dupont Capital Management Corp acquired a new position in Kroger Company (The) in the 2nd quarter valued at $105,000. Advantage Investment Management LLC raised its stake in Kroger Company (The) by 15.8% in the 1st 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. Cedar Wealth Management LLC raised its stake in Kroger Company (The) by 155.9% in the 2nd 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. Finally, CWM LLC raised its stake in Kroger Company (The) by 1,162.2% in the 2nd quarter. CWM LLC now owns 5,213 shares of the company’s stock valued at $122,000 after purchasing an additional 4,800 shares during the last quarter. 74.63% of the stock is owned by hedge funds and other institutional investors.

In related news, insider J Michael Schlotman bought 2,000 shares of the firm’s stock in a transaction dated Monday, June 26th. The stock was bought at an average price of $22.73 per share, with a total value of $45,460.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.85% of the stock is owned by corporate insiders.

Several research firms recently commented on KR. Pivotal Research raised Kroger Company (The) from a “hold” rating to a “buy” rating and increased their price objective for the company from $21.34 to $25.00 in a research note on Tuesday. Hilliard Lyons reissued a “buy” rating and issued a $30.00 price objective on shares of Kroger Company (The) in a research note on Tuesday. BMO Capital Markets dropped their target price on Kroger Company (The) from $24.00 to $20.00 and set a “market perform” rating for the company in a report on Monday. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $23.00 target price (down from $26.00) on shares of Kroger Company (The) in a report on Monday. Finally, Jefferies Group LLC dropped their target price on Kroger Company (The) from $24.00 to $19.00 and set a “hold” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Kroger Company (The) currently has an average rating of “Hold” and a consensus target price of $28.58.

Kroger Company (NYSE:KR) traded up 0.99% during midday trading on Friday, reaching $21.47. The company’s stock had a trading volume of 4,982,411 shares. Kroger Company has a 1-year low of $20.41 and a 1-year high of $36.44. The company has a 50 day moving average of $22.89 and a 200-day moving average of $26.56. The company has a market capitalization of $19.17 billion, a P/E ratio of 12.99 and a beta of 0.79.

Kroger Company (The) (NYSE:KR) last issued its earnings results on Friday, September 8th. The company reported $0.39 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. Kroger Company (The) had a return on equity of 28.04% and a net margin of 1.32%. The company had revenue of $27.60 billion during the quarter, compared to the consensus estimate of $27.48 billion. During the same quarter in the prior year, the business earned $0.47 earnings per share. The company’s revenue was up 3.9% compared to the same quarter last year. Equities research analysts anticipate that Kroger Company will post $1.97 earnings per share for the current fiscal year.

Kroger Company (The) declared that its board has approved a stock buyback program on Thursday, June 22nd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.35%. Kroger Company (The)’s payout ratio is 30.30%.

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Kroger Company (The) Company Profile

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.

Institutional Ownership by Quarter for Kroger Company (The) (NYSE:KR)

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