Cambridge Financial Group Inc. cut its stake in shares of Kroger Co (NYSE:KR) by 5.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 224,360 shares of the company’s stock after selling 12,265 shares during the quarter. Kroger comprises approximately 4.6% of Cambridge Financial Group Inc.’s portfolio, making the stock its 3rd biggest position. Cambridge Financial Group Inc.’s holdings in Kroger were worth $6,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KR. First Command Bank bought a new stake in Kroger in the 1st quarter worth about $27,000. Synovus Financial Corp increased its holdings in Kroger by 565.8% in the 1st quarter. Synovus Financial Corp now owns 1,012 shares of the company’s stock worth $30,000 after buying an additional 860 shares in the last quarter. Optimum Investment Advisors bought a new stake in Kroger in the 1st quarter worth about $32,000. PrairieView Partners LLC bought a new stake in Kroger in the 1st quarter worth about $33,000. Finally, Lindbrook Capital LLC increased its holdings in Kroger by 46.3% in the 1st quarter. Lindbrook Capital LLC now owns 1,270 shares of the company’s stock worth $38,000 after buying an additional 402 shares in the last quarter. Institutional investors own 81.19% of the company’s stock.
NYSE KR traded up $0.25 during trading hours on Friday, reaching $32.37. The company’s stock had a trading volume of 6,131,932 shares, compared to its average volume of 9,557,584. The firm’s 50-day moving average price is $32.26 and its 200-day moving average price is $29.50. The company has a quick ratio of 0.27, a current ratio of 0.76 and a debt-to-equity ratio of 2.17. Kroger Co has a 1 year low of $20.70 and a 1 year high of $36.84. The company has a market capitalization of $25.25 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 2.67 and a beta of 0.37.
Kroger (NYSE:KR) last posted its quarterly earnings results on Thursday, March 5th. The company reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.01. Kroger had a return on equity of 20.72% and a net margin of 1.36%. The company had revenue of $28.89 billion for the quarter, compared to analysts’ expectations of $28.88 billion. During the same period in the previous year, the firm earned $0.48 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts anticipate that Kroger Co will post 2.47 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $0.64 dividend on an annualized basis and a yield of 1.98%. Kroger’s dividend payout ratio is presently 29.09%.
In other Kroger news, Director Bobby S. Shackouls sold 7,800 shares of Kroger stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $33.76, for a total value of $263,328.00. Following the sale, the director now owns 52,445 shares of the company’s stock, valued at approximately $1,770,543.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Timothy A. Massa sold 8,000 shares of Kroger stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $31.37, for a total value of $250,960.00. Following the completion of the sale, the senior vice president now directly owns 152,917 shares in the company, valued at approximately $4,797,006.29. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,100 shares of company stock worth $615,796. 1.34% of the stock is owned by insiders.
Several equities research analysts recently commented on the company. Oppenheimer assumed coverage on Kroger in a report on Thursday, March 5th. They issued a “hold” rating and a $34.00 price objective for the company. Stephens raised their target price on Kroger from $25.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, March 6th. Morgan Stanley raised their target price on Kroger from $29.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 17th. Citigroup cut Kroger from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 15th. Finally, Bank of America raised their target price on Kroger from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $32.86.
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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