Eqis Capital Management Inc. acquired a new stake in shares of Kroger Company (The) (NYSE:KR) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 8,977 shares of the company’s stock, valued at approximately $209,000.
A number of other hedge funds have also made changes to their positions in the stock. Bank of Nova Scotia raised its position in Kroger Company (The) by 906.4% in the first quarter. Bank of Nova Scotia now owns 211,840 shares of the company’s stock valued at $6,247,000 after buying an additional 190,790 shares during the period. Selway Asset Management bought a new position in Kroger Company (The) during the first quarter valued at approximately $492,000. Holderness Investments Co. bought a new position in Kroger Company (The) during the first quarter valued at approximately $277,000. Hosking Partners LLP increased its position in Kroger Company (The) by 10.2% in the first quarter. Hosking Partners LLP now owns 528,328 shares of the company’s stock valued at $15,580,000 after buying an additional 48,785 shares in the last quarter. Finally, Whittier Trust Co. increased its position in Kroger Company (The) by 11.4% in the first quarter. Whittier Trust Co. now owns 94,145 shares of the company’s stock valued at $2,775,000 after buying an additional 9,646 shares in the last quarter. 77.33% of the stock is owned by institutional investors and hedge funds.
Shares of Kroger Company (NYSE:KR) opened at 22.86 on Friday. Kroger Company has a one year low of $20.46 and a one year high of $36.44. The company has a market capitalization of $20.51 billion, a P/E ratio of 13.76 and a beta of 0.76. The stock has a 50 day moving average price of $23.46 and a 200-day moving average price of $28.04.
Kroger Company (The) (NYSE:KR) last issued its earnings results on Thursday, June 15th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.58. Kroger Company (The) had a return on equity of 29.10% and a net margin of 1.35%. The business had revenue of $36.29 billion during the quarter, compared to analysts’ expectations of $35.69 billion. During the same period in the prior year, the firm posted $0.70 EPS. Kroger Company (The)’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities research analysts predict that Kroger Company will post $1.98 earnings per share for the current fiscal year.
Kroger Company (The) announced that its Board of Directors has initiated a share repurchase program on Thursday, June 22nd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 4.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.19%. This is a boost from Kroger Company (The)’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, August 11th. Kroger Company (The)’s dividend payout ratio (DPR) is currently 30.12%.
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KR has been the topic of a number of recent analyst reports. Deutsche Bank AG restated a “buy” rating on shares of Kroger Company (The) in a report on Friday, May 12th. J P Morgan Chase & Co cut shares of Kroger Company (The) from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $34.00 to $24.00 in a report on Friday, June 16th. Morgan Stanley cut shares of Kroger Company (The) from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $40.00 to $30.00 in a research note on Monday, June 19th. TheStreet lowered shares of Kroger Company (The) from a “b” rating to a “c+” rating in a research report on Thursday, June 15th. Finally, Zacks Investment Research lowered shares of Kroger Company (The) from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $30.09.
In related news, Director Susan M. Phillips sold 6,200 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $21.17, for a total transaction of $131,254.00. Following the sale, the director now owns 124,105 shares of the company’s stock, valued at approximately $2,627,302.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider J Michael Schlotman acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The shares were acquired at an average cost of $22.73 per share, for a total transaction of $45,460.00. The disclosure for this purchase can be found here. Company insiders own 0.85% of the company’s stock.
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.
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