Brookstone Capital Management Sells 2,371 Shares of The Kroger Co. (NYSE:KR)

Brookstone Capital Management decreased its holdings in shares of The Kroger Co. (NYSE:KRGet Rating) by 10.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,390 shares of the company’s stock after selling 2,371 shares during the quarter. Brookstone Capital Management’s holdings in Kroger were worth $1,027,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. State of Alaska Department of Revenue grew its stake in shares of Kroger by 7.1% during the second quarter. State of Alaska Department of Revenue now owns 313,123 shares of the company’s stock valued at $14,820,000 after buying an additional 20,710 shares during the last quarter. Covington Capital Management grew its stake in shares of Kroger by 14.0% during the second quarter. Covington Capital Management now owns 4,335 shares of the company’s stock valued at $205,000 after buying an additional 532 shares during the last quarter. Stolper Co grew its stake in shares of Kroger by 3.3% during the second quarter. Stolper Co now owns 42,076 shares of the company’s stock valued at $1,991,000 after buying an additional 1,361 shares during the last quarter. DnB Asset Management AS grew its stake in shares of Kroger by 7.7% during the second quarter. DnB Asset Management AS now owns 226,590 shares of the company’s stock valued at $10,725,000 after buying an additional 16,231 shares during the last quarter. Finally, NuWave Investment Management LLC grew its stake in shares of Kroger by 57.1% during the second quarter. NuWave Investment Management LLC now owns 7,351 shares of the company’s stock valued at $348,000 after buying an additional 2,672 shares during the last quarter. Institutional investors own 79.05% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on KR. Deutsche Bank Aktiengesellschaft upped their target price on Kroger from $53.00 to $54.00 and gave the company a “hold” rating in a research note on Tuesday, September 13th. Evercore ISI increased their price objective on Kroger from $51.00 to $54.00 and gave the stock an “in-line” rating in a research note on Monday, September 12th. UBS Group increased their price objective on Kroger to $57.00 in a research note on Tuesday, September 13th. Credit Suisse Group dropped their price objective on Kroger from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, September 8th. Finally, StockNews.com raised Kroger from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Kroger has an average rating of “Hold” and an average target price of $52.89.

Kroger Stock Performance

Shares of KR opened at $45.27 on Thursday. The Kroger Co. has a 12 month low of $38.22 and a 12 month high of $62.78. The stock has a fifty day moving average price of $47.85 and a 200-day moving average price of $51.46. The company has a current ratio of 0.72, a quick ratio of 0.28 and a debt-to-equity ratio of 1.30. The firm has a market cap of $32.39 billion, a PE ratio of 13.76, a P/E/G ratio of 1.00 and a beta of 0.47.

Kroger (NYSE:KRGet Rating) last issued its quarterly earnings data on Friday, September 9th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.84 by $0.06. Kroger had a return on equity of 31.72% and a net margin of 1.70%. The firm had revenue of $34.64 billion during the quarter, compared to analyst estimates of $34.44 billion. During the same quarter in the prior year, the business posted $0.80 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts predict that The Kroger Co. will post 4.06 earnings per share for the current fiscal year.

Kroger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.04 dividend on an annualized basis and a yield of 2.30%. Kroger’s dividend payout ratio (DPR) is 31.61%.

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.

Further Reading

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Institutional Ownership by Quarter for Kroger (NYSE:KR)

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