Boston Advisors LLC cut its position in shares of Kroger Company (The) (NYSE:KR) by 74.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 138,646 shares of the company’s stock after selling 397,707 shares during the period. Boston Advisors LLC’s holdings in Kroger Company (The) were worth $3,233,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of KR. Signature Estate & Investment Advisors LLC bought a new stake in Kroger Company (The) during the first quarter worth about $102,000. Advantage Investment Management LLC raised its stake in Kroger Company (The) by 15.8% in the first quarter. Advantage Investment Management LLC now owns 3,682 shares of the company’s stock worth $109,000 after buying an additional 502 shares during the period. Cedar Wealth Management LLC raised its stake in Kroger Company (The) by 155.9% in the second quarter. Cedar Wealth Management LLC now owns 4,990 shares of the company’s stock worth $116,000 after buying an additional 3,040 shares during the period. CWM LLC raised its stake in Kroger Company (The) by 1,162.2% in the second quarter. CWM LLC now owns 5,213 shares of the company’s stock worth $122,000 after buying an additional 4,800 shares during the period. Finally, YorkBridge Wealth Partners LLC raised its stake in Kroger Company (The) by 4.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 4,323 shares of the company’s stock worth $125,000 after buying an additional 171 shares during the period. Institutional investors and hedge funds own 77.33% of the company’s stock.
Shares of Kroger Company (NYSE:KR) remained flat at $22.86 during trading on Friday. 7,969,409 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $23.46 and its 200 day moving average price is $28.04. The firm has a market capitalization of $20.51 billion, a PE ratio of 13.76 and a beta of 0.76. Kroger Company has a 52-week low of $20.46 and a 52-week high of $36.44.
Kroger Company (The) (NYSE:KR) last posted its quarterly earnings data on Thursday, June 15th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.58. Kroger Company (The) had a return on equity of 29.10% and a net margin of 1.35%. The firm had revenue of $36.29 billion for the quarter, compared to the consensus estimate of $35.69 billion. During the same quarter in the prior year, the business earned $0.70 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that Kroger Company will post $1.98 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a dividend of $0.125 per share. This is an increase from Kroger Company (The)’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, August 11th. This represents a $0.50 annualized dividend and a yield of 2.19%. Kroger Company (The)’s dividend payout ratio is currently 30.12%.
Kroger Company (The) announced that its Board of Directors has approved a stock repurchase plan on Thursday, June 22nd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 4.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
A number of equities research analysts have recently issued reports on the company. Loop Capital assumed coverage on Kroger Company (The) in a research note on Monday, May 15th. They issued a “hold” rating and a $32.00 target price for the company. BidaskClub lowered Kroger Company (The) from a “buy” rating to a “hold” rating in a research note on Thursday. TheStreet downgraded Kroger Company (The) from a “b” rating to a “c+” rating in a report on Thursday, June 15th. Wells Fargo & Company reissued an “outperform” rating and issued a $28.00 price target on shares of Kroger Company (The) in a report on Sunday, July 2nd. Finally, Vetr downgraded Kroger Company (The) from a “strong-buy” rating to a “buy” rating and set a $33.46 price target for the company. in a report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $30.09.
In other news, insider J Michael Schlotman acquired 2,000 shares of Kroger Company (The) stock in a transaction on Monday, June 26th. The shares were purchased at an average price of $22.73 per share, with a total value of $45,460.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Susan M. Phillips sold 6,200 shares of the company’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $21.17, for a total value of $131,254.00. Following the transaction, the director now directly owns 124,105 shares in the company, valued at approximately $2,627,302.85. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by corporate insiders.
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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