Cardinal Capital Management Inc. Decreases Position in The Kroger Co. (NYSE:KR)

Cardinal Capital Management Inc. cut its holdings in The Kroger Co. (NYSE:KR) by 4.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,500 shares of the company’s stock after selling 500 shares during the period. Cardinal Capital Management Inc.’s holdings in Kroger were worth $494,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. KB Financial Partners LLC acquired a new stake in shares of Kroger in the first quarter valued at approximately $28,000. Carmel Capital Partners LLC purchased a new position in Kroger during the first quarter worth $30,000. GPS Wealth Strategies Group LLC acquired a new position in shares of Kroger in the first quarter worth $31,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Kroger in the fourth quarter valued at $35,000. Finally, Resurgent Financial Advisors LLC acquired a new stake in shares of Kroger during the fourth quarter valued at $35,000. 78.98% of the stock is owned by institutional investors and hedge funds.

Kroger Stock Up 1.2 %

Shares of NYSE KR traded up $0.53 on Friday, hitting $46.32. The company had a trading volume of 22,036,014 shares, compared to its average volume of 5,228,356. The company has a quick ratio of 0.36, a current ratio of 0.78 and a debt-to-equity ratio of 1.14. The Kroger Co. has a 12-month low of $41.81 and a 12-month high of $50.41. The firm has a market capitalization of $33.25 billion, a P/E ratio of 20.68, a PEG ratio of 2.12 and a beta of 0.48. The business has a 50 day moving average of $47.33 and a two-hundred day moving average of $47.46.

Kroger (NYSE:KR) last issued its quarterly earnings data on Friday, September 8th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.05. The company had revenue of $33.85 billion during the quarter, compared to the consensus estimate of $34.12 billion. Kroger had a net margin of 1.10% and a return on equity of 30.61%. Kroger’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the company earned $0.90 earnings per share. As a group, equities research analysts forecast that The Kroger Co. will post 4.51 earnings per share for the current fiscal year.

Kroger Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.16 dividend on an annualized basis and a yield of 2.50%. Kroger’s dividend payout ratio (DPR) is presently 51.79%.

Insider Buying and Selling at Kroger

In other Kroger news, SVP Timothy A. Massa sold 23,000 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $45.46, for a total transaction of $1,045,580.00. Following the transaction, the senior vice president now directly owns 194,956 shares in the company, valued at approximately $8,862,699.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.38% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. UBS Group cut their target price on shares of Kroger from $51.00 to $48.00 in a research note on Monday, June 19th. 3M reissued a “maintains” rating on shares of Kroger in a research note on Friday, June 16th. Telsey Advisory Group reiterated an “outperform” rating and issued a $55.00 price target on shares of Kroger in a report on Wednesday, September 6th. Bank of America decreased their price objective on Kroger from $75.00 to $65.00 in a report on Friday, June 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Kroger from $54.00 to $50.00 in a research report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $52.33.

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.