Lourd Capital LLC Invests $268,000 in Kroger Co (KR)

Lourd Capital LLC bought a new stake in shares of Kroger Co (NYSE:KR) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,197 shares of the company’s stock, valued at approximately $268,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in KR. Madison Investment Holdings Inc. boosted its holdings in shares of Kroger by 6.3% in the second quarter. Madison Investment Holdings Inc. now owns 29,726 shares of the company’s stock valued at $846,000 after purchasing an additional 1,758 shares during the period. Pinnacle Associates Ltd. lifted its holdings in Kroger by 4.6% during the second quarter. Pinnacle Associates Ltd. now owns 40,952 shares of the company’s stock worth $1,165,000 after buying an additional 1,800 shares during the period. TIAA FSB lifted its holdings in Kroger by 9.7% during the second quarter. TIAA FSB now owns 20,549 shares of the company’s stock worth $585,000 after buying an additional 1,812 shares during the period. CIBC Asset Management Inc lifted its holdings in Kroger by 2.0% during the second quarter. CIBC Asset Management Inc now owns 94,607 shares of the company’s stock worth $2,692,000 after buying an additional 1,837 shares during the period. Finally, First Fiduciary Investment Counsel Inc. lifted its holdings in Kroger by 0.4% during the second quarter. First Fiduciary Investment Counsel Inc. now owns 448,830 shares of the company’s stock worth $12,769,000 after buying an additional 1,920 shares during the period. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Shares of KR opened at $26.92 on Friday. Kroger Co has a 12 month low of $20.25 and a 12 month high of $32.74. The company has a quick ratio of 0.26, a current ratio of 0.73 and a debt-to-equity ratio of 1.65. The firm has a market cap of $23.21 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 2.10 and a beta of 0.92.

Kroger (NYSE:KR) last issued its quarterly earnings data on Thursday, September 13th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.38 by $0.03. Kroger had a return on equity of 28.05% and a net margin of 3.05%. The firm had revenue of $27.87 billion during the quarter, compared to analyst estimates of $27.95 billion. During the same quarter in the prior year, the business posted $0.39 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts forecast that Kroger Co will post 2.12 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Thursday, November 15th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.56 annualized dividend and a dividend yield of 2.08%. Kroger’s dividend payout ratio is presently 27.45%.

In related news, SVP Calvin J. Kaufman sold 10,500 shares of the company’s stock in a transaction on Thursday, October 11th. The stock was sold at an average price of $27.47, for a total value of $288,435.00. Following the transaction, the senior vice president now directly owns 124,688 shares of the company’s stock, valued at approximately $3,425,179.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Erin S. Sharp sold 25,314 shares of the company’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $29.00, for a total value of $734,106.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,575 shares of company stock worth $1,414,369. 1.07% of the stock is owned by insiders.

A number of analysts have weighed in on the company. MED assumed coverage on Kroger in a report on Monday, July 2nd. They set a “hold” rating and a $30.00 target price for the company. They noted that the move was a valuation call. Citigroup restated a “buy” rating and set a $34.00 target price on shares of Kroger in a report on Tuesday, June 26th. Pivotal Research lowered Kroger from a “buy” rating to a “hold” rating and upped their target price for the stock from $30.00 to $31.00 in a report on Monday, June 25th. Jefferies Financial Group upped their target price on Kroger from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, June 22nd. Finally, ValuEngine upgraded Kroger from a “sell” rating to a “hold” rating in a report on Saturday, June 16th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $30.16.

About Kroger

The Kroger Co, together with its subsidiaries, operates as a retailer in the United States. It also manufactures and processes food products for sale in its supermarkets. The company operates supermarkets, multi-department stores, jewelry stores, and convenience stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; multi-department stores provide general merchandise items, such as apparel, home fashion and furnishings, outdoor living, electronics, automotive products, toys, and fine jewelry; and price impact warehouse stores offer grocery, and health and beauty care items, as well as meat, dairy, baked goods, and fresh produce items.

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Institutional Ownership by Quarter for Kroger (NYSE:KR)

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