Nordea Investment Management AB Sells 344,264 Shares of The Kroger Co. $KR

Nordea Investment Management AB lowered its position in shares of The Kroger Co. (NYSE:KR) by 7.2% during the second quarter, HoldingsChannel reports. The fund owned 4,415,092 shares of the company’s stock after selling 344,264 shares during the quarter. Nordea Investment Management AB’s holdings in Kroger were worth $315,591,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SOA Wealth Advisors LLC. grew its position in Kroger by 6,840.0% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 347 shares of the company’s stock worth $25,000 after acquiring an additional 342 shares during the last quarter. Accent Capital Management LLC bought a new stake in Kroger during the 1st quarter worth $25,000. Garde Capital Inc. bought a new stake in Kroger during the 1st quarter worth $31,000. Capital Analysts LLC bought a new stake in Kroger during the 1st quarter worth $36,000. Finally, Thompson Investment Management Inc. bought a new stake in Kroger during the 2nd quarter worth $38,000. Institutional investors own 80.93% of the company’s stock.

Kroger Stock Down 0.4%

Shares of Kroger stock opened at $68.85 on Friday. The Kroger Co. has a one year low of $55.60 and a one year high of $74.90. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.95 and a quick ratio of 0.54. The stock’s 50-day moving average is $68.14 and its 200 day moving average is $69.10. The firm has a market cap of $45.63 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 2.01 and a beta of 0.57.

Kroger (NYSE:KR) last announced its earnings results on Thursday, September 11th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. Kroger had a return on equity of 32.62% and a net margin of 1.86%.The company had revenue of $33.94 billion for the quarter, compared to analyst estimates of $34.08 billion. During the same quarter in the prior year, the company earned $0.93 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Kroger has set its FY 2025 guidance at 4.700-4.800 EPS. Equities research analysts anticipate that The Kroger Co. will post 4.44 EPS for the current year.

Kroger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, November 14th. This represents a $1.40 annualized dividend and a dividend yield of 2.0%. Kroger’s dividend payout ratio is presently 35.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $75.00 price target (down previously from $82.00) on shares of Kroger in a research report on Wednesday, August 20th. Morgan Stanley set a $76.00 price target on Kroger and gave the company an “equal weight” rating in a research report on Monday, June 23rd. Evercore ISI reduced their price target on Kroger from $82.00 to $80.00 and set an “outperform” rating on the stock in a research report on Tuesday. Jefferies Financial Group set a $83.00 price target on Kroger and gave the company a “buy” rating in a research report on Monday, June 23rd. Finally, Roth Capital upgraded Kroger from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, September 17th. Ten research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Kroger presently has a consensus rating of “Moderate Buy” and an average target price of $73.53.

Kroger Profile

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.