Private Advisor Group LLC raised its stake in shares of The Kroger Co. (NYSE:KR) by 18.8% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 33,012 shares of the company’s stock after purchasing an additional 5,224 shares during the period. Private Advisor Group LLC’s holdings in The Kroger were worth $1,265,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Prime Capital Investment Advisors LLC boosted its stake in The Kroger by 489.3% during the 2nd quarter. Prime Capital Investment Advisors LLC now owns 9,375 shares of the company’s stock valued at $359,000 after purchasing an additional 7,784 shares during the last quarter. AlphaCrest Capital Management LLC boosted its stake in The Kroger by 1.7% during the 2nd quarter. AlphaCrest Capital Management LLC now owns 75,037 shares of the company’s stock valued at $2,875,000 after purchasing an additional 1,289 shares during the last quarter. Systematic Alpha Investments LLC acquired a new position in The Kroger during the 2nd quarter valued at about $415,000. XTX Topco Ltd boosted its stake in The Kroger by 47.2% during the 2nd quarter. XTX Topco Ltd now owns 12,461 shares of the company’s stock valued at $477,000 after purchasing an additional 3,998 shares during the last quarter. Finally, Wade G W & Inc. boosted its stake in The Kroger by 7.1% during the 2nd quarter. Wade G W & Inc. now owns 6,683 shares of the company’s stock valued at $256,000 after purchasing an additional 444 shares during the last quarter. Institutional investors and hedge funds own 82.42% of the company’s stock.
A number of research firms have issued reports on KR. Credit Suisse Group lifted their price target on The Kroger from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, September 13th. Telsey Advisory Group lifted their target price on shares of The Kroger from $40.00 to $45.00 and gave the stock a “market perform” rating in a research report on Monday, September 13th. Northcoast Research lifted their target price on shares of The Kroger from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, September 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of The Kroger from $36.00 to $41.00 and gave the stock a “hold” rating in a research report on Monday, June 21st. Finally, lifted their target price on shares of The Kroger from $37.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, June 18th. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $38.44.
The Kroger (NYSE:KR) last posted its quarterly earnings results on Thursday, September 9th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.16. The Kroger had a net margin of 0.87% and a return on equity of 28.26%. The company had revenue of $31.68 billion for the quarter, compared to analysts’ expectations of $30.69 billion. During the same quarter in the previous year, the firm posted $0.73 EPS. The Kroger’s revenue was up 3.9% on a year-over-year basis. Research analysts predict that The Kroger Co. will post 3.28 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 1st. Shareholders of record on Monday, November 15th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 12th. This represents a $0.84 dividend on an annualized basis and a yield of 2.13%. The Kroger’s payout ratio is 24.21%.
The Kroger declared that its board has approved a share repurchase plan on Thursday, June 17th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other The Kroger news, SVP Mary Ellen Adcock sold 18,500 shares of the business’s stock in a transaction on Tuesday, September 14th. The shares were sold at an average price of $42.08, for a total transaction of $778,480.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Christine S. Wheatley sold 25,322 shares of the business’s stock in a transaction on Thursday, October 7th. The shares were sold at an average price of $39.68, for a total transaction of $1,004,776.96. The disclosure for this sale can be found here. Insiders have sold a total of 73,479 shares of company stock worth $2,966,226 in the last three months. Insiders own 1.35% of the company’s stock.
The Kroger Company Profile
The Kroger Co engages in the operation of supermarkets and multi-department stores. Its brands include Big K, Check This Out…, Heritage Farm, Simple Truth, and Simple Truth Organic. The company was founded by Barney Kroger in 1883 and is headquartered in Cincinnati, OH.
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