Bowling Portfolio Management LLC cut its stake in Kroger Company (The) (NYSE:KR) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,188 shares of the company’s stock after selling 198 shares during the period. Bowling Portfolio Management LLC’s holdings in Kroger Company (The) were worth $2,290,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC bought a new position in Kroger Company (The) during the first quarter valued at $102,000. Advantage Investment Management LLC raised its position 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 valued at $109,000 after buying an additional 502 shares during the last quarter. Cedar Wealth Management LLC raised 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 valued at $116,000 after buying an additional 3,040 shares during the last quarter. CWM LLC raised 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 valued at $122,000 after buying an additional 4,800 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC raised its position 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 valued at $125,000 after buying an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 77.33% of the company’s stock.
Kroger Company (KR) opened at 22.86 on Friday. Kroger Company has a 52-week low of $20.46 and a 52-week high of $36.44. The stock has a market cap of $20.51 billion, a price-to-earnings 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 quarterly earnings data on Thursday, June 15th. The company reported $0.58 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.58. The firm had revenue of $36.29 billion during the quarter, compared to analysts’ expectations of $35.69 billion. Kroger Company (The) had a return on equity of 29.10% and a net margin of 1.35%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 EPS. Analysts expect that Kroger Company will post $1.98 EPS for the current fiscal year.
Kroger Company (The) announced that its board has approved a share repurchase plan on Thursday, June 22nd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be paid a dividend of $0.125 per share. This is a boost from Kroger Company (The)’s previous quarterly dividend of $0.12. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, August 11th. Kroger Company (The)’s dividend payout ratio is 30.12%.
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Several equities analysts recently weighed in on the stock. BidaskClub lowered shares of Kroger Company (The) from a “buy” rating to a “hold” rating in a research report on Thursday. Stephens initiated coverage on shares of Kroger Company (The) in a research report on Friday, August 11th. They set an “underweight” rating and a $20.00 price target for the company. Vetr raised shares of Kroger Company (The) from a “buy” rating to a “strong-buy” rating and set a $27.01 price objective on the stock in a report on Wednesday, August 9th. Royal Bank Of Canada set a $34.00 price objective on shares of Kroger Company (The) and gave the company a “buy” rating in a report on Tuesday, July 18th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $28.00 price objective on shares of Kroger Company (The) in a report on Sunday, July 2nd. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Kroger Company (The) currently has a consensus rating of “Hold” and a consensus price target of $30.09.
In other Kroger Company (The) news, Director Susan M. Phillips sold 6,200 shares of the stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $21.17, for a total value of $131,254.00. Following the completion of the sale, the director now directly owns 124,105 shares in the company, valued at $2,627,302.85. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider J Michael Schlotman purchased 2,000 shares of the firm’s stock in a transaction on Monday, June 26th. The stock was acquired at an average price of $22.73 per share, with a total value of $45,460.00. The disclosure for this purchase can be found here. Corporate 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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