State Street Corp Grows Stock Position in The Kroger Co. (NYSE:KR)

State Street Corp lifted its stake in The Kroger Co. (NYSE:KRGet Rating) by 1.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,777,178 shares of the company’s stock after purchasing an additional 590,838 shares during the period. State Street Corp owned about 0.05% of Kroger worth $2,167,277,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Kroger by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 81,040,589 shares of the company’s stock worth $4,649,299,000 after buying an additional 2,062,188 shares during the last quarter. Capital World Investors lifted its holdings in Kroger by 24.8% during the 4th quarter. Capital World Investors now owns 15,666,470 shares of the company’s stock worth $709,064,000 after buying an additional 3,112,175 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in Kroger by 0.5% during the 4th quarter. Parametric Portfolio Associates LLC now owns 6,564,640 shares of the company’s stock worth $297,116,000 after buying an additional 33,929 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Kroger by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 5,985,874 shares of the company’s stock worth $343,408,000 after buying an additional 20,085 shares during the last quarter. Finally, Norges Bank purchased a new stake in Kroger during the 4th quarter worth about $236,958,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Kroger Price Performance

Shares of NYSE:KR opened at $51.94 on Monday. The business’s 50 day simple moving average is $47.83 and its 200-day simple moving average is $51.63. The firm has a market capitalization of $37.17 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 1.16 and a beta of 0.47. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.72 and a quick ratio of 0.28. The Kroger Co. has a 12 month low of $38.22 and a 12 month high of $62.78.

Kroger (NYSE:KRGet Rating) last announced its quarterly earnings results on Friday, September 9th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.83 by $0.07. The business had revenue of $34.64 billion for the quarter, compared to analyst estimates of $34.44 billion. Kroger had a return on equity of 31.72% and a net margin of 1.70%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.80 EPS. As a group, equities analysts forecast that The Kroger Co. will post 3.97 earnings per share for the current fiscal year.

Kroger Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were paid a $0.26 dividend. The ex-dividend date was Friday, August 12th. This represents a $1.04 dividend on an annualized basis and a yield of 2.00%. This is a positive change from Kroger’s previous quarterly dividend of $0.21. Kroger’s dividend payout ratio is presently 31.61%.

Analysts Set New Price Targets

A number of research firms have recently commented on KR. Morgan Stanley lifted their target price on Kroger from $38.00 to $41.00 and gave the stock an “underweight” rating in a research report on Friday, June 17th. Guggenheim reiterated a “buy” rating and set a $57.00 target price on shares of Kroger in a research report on Friday, June 17th. MKM Partners lifted their target price on Kroger from $48.00 to $55.00 in a research report on Tuesday, June 21st. Evercore ISI reiterated a “hold” rating and set a $54.00 target price on shares of Kroger in a research report on Friday, June 17th. Finally, Oppenheimer cut their target price on Kroger to $51.00 in a research report on Tuesday, September 6th. Five analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $52.22.

About Kroger

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The Kroger Co operates as a 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.

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Institutional Ownership by Quarter for Kroger (NYSE:KR)

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