Zevin Asset Management LLC purchased a new stake in shares of Kroger Co (NYSE:KR) during the third quarter, Holdings Channel.com reports. The firm purchased 131,914 shares of the company’s stock, valued at approximately $3,401,000.
A number of other hedge funds have also made changes to their positions in the stock. Citizens Financial Group Inc RI raised its position in shares of Kroger by 21.6% in the 3rd quarter. Citizens Financial Group Inc RI now owns 2,323 shares of the company’s stock worth $60,000 after purchasing an additional 413 shares during the last quarter. Delta Asset Management LLC TN grew its stake in shares of Kroger by 35.8% during the 3rd quarter. Delta Asset Management LLC TN now owns 1,630 shares of the company’s stock valued at $42,000 after purchasing an additional 430 shares during the period. Cedar Wealth Management LLC grew its stake in shares of Kroger by 2.0% during the 3rd quarter. Cedar Wealth Management LLC now owns 23,645 shares of the company’s stock valued at $610,000 after acquiring an additional 455 shares during the period. Simmons Bank lifted its holdings in Kroger by 1.7% in the 2nd quarter. Simmons Bank now owns 29,368 shares of the company’s stock worth $638,000 after purchasing an additional 482 shares in the last quarter. Finally, Covington Capital Management lifted its holdings in Kroger by 10.4% in the 2nd quarter. Covington Capital Management now owns 5,520 shares of the company’s stock worth $120,000 after purchasing an additional 520 shares in the last quarter. 80.35% of the stock is owned by institutional investors.
In other news, EVP J Michael Schlotman sold 68,187 shares of Kroger stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $26.02, for a total value of $1,774,225.74. Following the completion of the transaction, the executive vice president now owns 295,160 shares of the company’s stock, valued at approximately $7,680,063.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Michael Joseph Donnelly sold 1,574 shares of Kroger stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $26.46, for a total transaction of $41,648.04. Following the completion of the transaction, the chief operating officer now directly owns 324,209 shares of the company’s stock, valued at approximately $8,578,570.14. The disclosure for this sale can be found here. Insiders sold 134,323 shares of company stock worth $3,537,389 over the last 90 days. 1.34% of the stock is currently owned by company insiders.
Shares of KR traded up $0.16 during trading hours on Friday, reaching $27.02. 6,533,301 shares of the company traded hands, compared to its average volume of 8,694,465. The stock has a market cap of $22.31 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 2.00 and a beta of 0.56. The stock’s fifty day moving average is $25.12 and its 200 day moving average is $23.89. Kroger Co has a 1-year low of $20.70 and a 1-year high of $31.98. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.27 and a current ratio of 0.76.
Kroger (NYSE:KR) last issued its quarterly earnings data on Thursday, September 12th. The company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.03. Kroger had a net margin of 1.36% and a return on equity of 21.17%. The firm had revenue of $28.17 billion for the quarter, compared to analysts’ expectations of $28.34 billion. During the same period in the prior year, the firm earned $0.41 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities research analysts predict that Kroger Co will post 2.19 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a $0.16 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.64 annualized dividend and a yield of 2.37%. Kroger’s dividend payout ratio is currently 30.33%.
A number of equities research analysts have recently weighed in on the company. Oppenheimer dropped their price objective on Kroger from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday, October 28th. Citigroup reduced their target price on Kroger from $30.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Pivotal Research reaffirmed a “buy” rating and set a $30.00 price objective (up from $26.00) on shares of Kroger in a research note on Wednesday, September 11th. Guggenheim set a $26.00 price objective on Kroger and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. boosted their target price on Kroger from $24.00 to $27.00 in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. Kroger presently has an average rating of “Hold” and a consensus price target of $27.37.
The Kroger Co operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.
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