The Kroger Co. (NYSE:KR – Get Free Report) was the recipient of unusually large options trading activity on Monday. Stock investors bought 27,085 call options on the stock. This represents an increase of 112% compared to the average volume of 12,800 call options.
Hedge Funds Weigh In On Kroger
A number of institutional investors and hedge funds have recently made changes to their positions in KR. Ares Financial Consulting LLC purchased a new position in shares of Kroger in the fourth quarter valued at $25,000. Princeton Global Asset Management LLC lifted its position in shares of Kroger by 268.1% in the fourth quarter. Princeton Global Asset Management LLC now owns 416 shares of the company’s stock valued at $26,000 after acquiring an additional 303 shares in the last quarter. MV Capital Management Inc. acquired a new stake in shares of Kroger during the fourth quarter valued at $26,000. Whipplewood Advisors LLC purchased a new stake in Kroger during the 1st quarter worth about $27,000. Finally, Lloyd Advisory Services LLC. acquired a new position in Kroger in the 4th quarter valued at about $28,000. 80.93% of the stock is owned by institutional investors and hedge funds.
Kroger Stock Performance
Shares of KR stock traded up $0.48 during trading hours on Monday, hitting $58.22. The stock had a trading volume of 2,283,298 shares, compared to its average volume of 6,972,523. The company has a debt-to-equity ratio of 2.43, a current ratio of 0.79 and a quick ratio of 0.39. The firm has a market capitalization of $35.67 billion, a PE ratio of 34.26, a PEG ratio of 1.55 and a beta of 0.44. The stock’s 50 day moving average is $59.87 and its 200 day moving average is $65.36. Kroger has a twelve month low of $54.15 and a twelve month high of $76.58.
Kroger Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Saturday, August 15th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, August 14th. This is an increase from Kroger’s previous quarterly dividend of $0.35. Kroger’s payout ratio is currently 91.76%.
Analyst Ratings Changes
KR has been the topic of a number of research analyst reports. Wells Fargo & Company set a $58.00 target price on Kroger in a research report on Monday, June 22nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Kroger in a research note on Friday, June 19th. JPMorgan Chase & Co. decreased their target price on Kroger from $72.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, June 11th. Jefferies Financial Group reissued a “buy” rating and issued a $80.00 price objective on shares of Kroger in a research note on Wednesday, June 3rd. Finally, Citigroup cut their target price on shares of Kroger from $71.00 to $61.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 23rd. Ten investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.
View Our Latest Analysis on KR
Kroger Company Profile
The Kroger Co (NYSE: KR) is one of the largest supermarket operators in the United States, offering a wide range of retail grocery and related services. Founded in Cincinnati in 1883 by Bernard Kroger, the company operates a portfolio of supermarket and multi-department store banners and provides customers with fresh foods, packaged groceries, deli and bakery items, meat and seafood, produce, and prepared foods. Kroger’s stores commonly include pharmacy services and fuel centers, positioning the company as a broad-based neighborhood retail destination for everyday needs.
In addition to traditional in-store retailing, Kroger manufactures and distributes a variety of private-label brands and operates its own food production and supply-chain facilities.
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