The Kroger Co. (NYSE:KR) Sees Significant Increase in Short Interest

The Kroger Co. (NYSE:KR) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 15,610,000 shares, a growth of 16.8% from the March 15th total of 13,370,000 shares. Based on an average daily volume of 5,040,000 shares, the days-to-cover ratio is currently 3.1 days. Approximately 2.2% of the company’s shares are sold short.

Kroger Stock Up 0.3 %

NYSE KR traded up $0.19 during trading hours on Tuesday, hitting $55.55. 3,680,327 shares of the company were exchanged, compared to its average volume of 4,959,965. The company has a 50 day moving average of $52.43 and a two-hundred day moving average of $47.56. The company has a quick ratio of 0.36, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm has a market cap of $40.09 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 2.57 and a beta of 0.48. Kroger has a 52-week low of $42.10 and a 52-week high of $58.34.

Kroger (NYSE:KR) last issued its earnings results on Thursday, March 7th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.21. Kroger had a net margin of 1.44% and a return on equity of 31.44%. The firm had revenue of $37.06 billion for the quarter, compared to analysts’ expectations of $37.07 billion. During the same quarter last year, the company earned $0.99 earnings per share. The firm’s revenue was up 6.4% compared to the same quarter last year. Equities research analysts anticipate that Kroger will post 4.43 earnings per share for the current year.

Kroger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.29 per share. The ex-dividend date is Tuesday, May 14th. This represents a $1.16 annualized dividend and a dividend yield of 2.09%. Kroger’s dividend payout ratio is currently 39.19%.

Institutional Investors Weigh In On Kroger

Several hedge funds and other institutional investors have recently made changes to their positions in KR. International Assets Investment Management LLC boosted its stake in Kroger by 4,810.7% in the fourth quarter. International Assets Investment Management LLC now owns 567,829 shares of the company’s stock valued at $25,955,000 after acquiring an additional 556,266 shares in the last quarter. Royal London Asset Management Ltd. grew its stake in Kroger by 4.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 284,094 shares of the company’s stock worth $12,715,000 after buying an additional 11,707 shares during the last quarter. Czech National Bank increased its position in Kroger by 49.3% during the third quarter. Czech National Bank now owns 115,411 shares of the company’s stock worth $5,165,000 after buying an additional 38,119 shares during the period. SG Americas Securities LLC increased its position in Kroger by 239.9% during the third quarter. SG Americas Securities LLC now owns 168,019 shares of the company’s stock worth $7,519,000 after buying an additional 118,581 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Kroger by 7.5% in the fourth quarter. Nordea Investment Management AB now owns 1,647,862 shares of the company’s stock valued at $75,175,000 after acquiring an additional 115,264 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Ratings Changes

KR has been the subject of several recent analyst reports. Guggenheim raised their target price on Kroger from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. BNP Paribas reissued an “underperform” rating and issued a $48.00 price target on shares of Kroger in a research note on Monday, April 8th. Wells Fargo & Company raised shares of Kroger from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $58.00 to $65.00 in a research report on Tuesday. Evercore ISI cut their target price on Kroger from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Telsey Advisory Group raised their price target on Kroger from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.17.

About Kroger

The Kroger Co operates as a food and drug retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. 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.