Huntington National Bank lessened its holdings in shares of Kroger Co (NYSE:KR) by 10.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,665 shares of the company’s stock after selling 7,188 shares during the quarter. Huntington National Bank’s holdings in Kroger were worth $2,189,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of KR. Capital Research Global Investors raised its stake in Kroger by 36.6% during the 1st quarter. Capital Research Global Investors now owns 16,466,175 shares of the company’s stock valued at $495,961,000 after acquiring an additional 4,413,450 shares in the last quarter. APG Asset Management N.V. increased its position in shares of Kroger by 4,005.7% during the 1st quarter. APG Asset Management N.V. now owns 3,275,976 shares of the company’s stock valued at $71,772,000 after purchasing an additional 3,196,185 shares during the period. JPMorgan Chase & Co. increased its position in shares of Kroger by 42.9% during the 1st quarter. JPMorgan Chase & Co. now owns 7,623,096 shares of the company’s stock valued at $229,609,000 after purchasing an additional 2,288,325 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of Kroger by 90.9% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 4,488,825 shares of the company’s stock valued at $151,944,000 after purchasing an additional 2,137,344 shares during the period. Finally, BlackRock Inc. increased its position in shares of Kroger by 2.9% during the 1st quarter. BlackRock Inc. now owns 59,699,457 shares of the company’s stock valued at $1,798,146,000 after purchasing an additional 1,701,261 shares during the period. Institutional investors own 77.77% of the company’s stock.
In related news, VP Todd A. Foley sold 11,000 shares of the business’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $33.33, for a total transaction of $366,630.00. Following the completion of the transaction, the vice president now owns 42,598 shares of the company’s stock, valued at approximately $1,419,791.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Carin L. Fike sold 968 shares of the business’s stock in a transaction dated Thursday, July 16th. The stock was sold at an average price of $33.97, for a total value of $32,882.96. The disclosure for this sale can be found here. Insiders have sold a total of 224,059 shares of company stock valued at $7,485,124 in the last three months. 1.34% of the stock is owned by insiders.
Shares of NYSE:KR opened at $34.79 on Friday. Kroger Co has a fifty-two week low of $20.91 and a fifty-two week high of $36.84. The business has a 50-day moving average of $33.42 and a two-hundred day moving average of $31.42. The stock has a market capitalization of $27.06 billion, a P/E ratio of 13.33, a P/E/G ratio of 2.23 and a beta of 0.38. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.83 and a quick ratio of 0.40.
Kroger (NYSE:KR) last announced its quarterly earnings results on Thursday, June 18th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. Kroger had a return on equity of 24.62% and a net margin of 1.66%. The company had revenue of $41.55 billion during the quarter, compared to analysts’ expectations of $40.92 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, research analysts expect that Kroger Co will post 2.84 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a $0.72 dividend. The ex-dividend date is Thursday, August 13th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 8.28%. This is a boost from Kroger’s previous quarterly dividend of $0.16. Kroger’s payout ratio is currently 29.09%.
KR has been the topic of several research analyst reports. Citigroup cut Kroger from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 15th. CSFB lifted their price target on Kroger from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Oppenheimer started coverage on Kroger in a report on Thursday, June 18th. They set a “hold” rating and a $34.00 price target on the stock. MKM Partners started coverage on Kroger in a report on Wednesday. They set a “neutral” rating and a $40.00 price target on the stock. Finally, ValuEngine downgraded Kroger from a “sell” rating to a “strong sell” rating in a report on Thursday, July 2nd. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $34.13.
Kroger Company Profile
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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