Foster & Motley Inc. decreased its position in Kroger Company (The) (NYSE:KR) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,922 shares of the company’s stock after selling 6,061 shares during the period. Foster & Motley Inc.’s holdings in Kroger Company (The) were worth $2,890,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Signature Estate & Investment Advisors LLC bought a new position in shares of Kroger Company (The) during the first quarter worth approximately $102,000. Advantage Investment Management LLC raised its position in shares of 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 increased its position 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 in the last quarter. CWM LLC increased its position 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 in the last quarter. Finally, Grove Bank & Trust increased its position in Kroger Company (The) by 9.3% in the second quarter. Grove Bank & Trust now owns 5,287 shares of the company’s stock worth $124,000 after buying an additional 450 shares in the last quarter. 77.33% of the stock is currently owned by institutional investors and hedge funds.
Kroger Company (NYSE:KR) opened at 22.86 on Friday. Kroger Company has a 12-month low of $20.46 and a 12-month high of $36.44. The firm has a 50-day moving average of $23.46 and a 200 day moving average of $28.04. The firm has a market capitalization of $20.51 billion, a price-to-earnings ratio of 13.76 and a beta of 0.76.
Kroger Company (The) (NYSE:KR) last issued its quarterly earnings results on Thursday, June 15th. The company reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. Kroger Company (The) had a net margin of 1.35% and a return on equity of 29.10%. The firm had revenue of $36.29 billion for the quarter, compared to analysts’ expectations of $35.69 billion. During the same period in the previous year, the business earned $0.70 earnings per share. Kroger Company (The)’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts predict that Kroger Company will post $1.98 EPS for the current year.
The business 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 represents a $0.50 annualized dividend and a yield of 2.19%. The ex-dividend date is Friday, August 11th. This is an increase from Kroger Company (The)’s previous quarterly dividend of $0.12. Kroger Company (The)’s payout ratio is presently 30.12%.
Kroger Company (The) declared that its Board of Directors has authorized a share repurchase plan 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 plans are often a sign that the company’s board of directors believes its shares are undervalued.
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Several equities research analysts have recently commented on KR shares. Loop Capital started coverage on shares of Kroger Company (The) in a research note on Monday, May 15th. They set a “hold” rating and a $32.00 price objective for the company. BidaskClub downgraded shares of Kroger Company (The) from a “buy” rating to a “hold” rating in a research note on Thursday. TheStreet cut shares of 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 set a $28.00 target price on shares of Kroger Company (The) in a report on Sunday, July 2nd. Finally, Vetr cut shares of Kroger Company (The) from a “strong-buy” rating to a “buy” rating and set a $33.46 target price for the company. in a report on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $30.09.
In other Kroger Company (The) news, Director Susan M. Phillips sold 6,200 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $2,627,302.85. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider J Michael Schlotman acquired 2,000 shares of the business’s stock in a transaction on Monday, June 26th. The shares were bought at an average price of $22.73 per share, for a total transaction of $45,460.00. The disclosure for this purchase can be found here. 0.85% of the stock is currently owned by 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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