Artisan Partners Limited Partnership trimmed its holdings in The Kroger Co. (NYSE:KR – Free Report) by 4.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,182,335 shares of the company’s stock after selling 56,621 shares during the period. Artisan Partners Limited Partnership owned 0.16% of Kroger worth $55,570,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also modified their holdings of KR. Synovus Financial Corp increased its position in Kroger by 6.3% during the first quarter. Synovus Financial Corp now owns 12,869 shares of the company’s stock worth $739,000 after purchasing an additional 764 shares during the last quarter. Cibc World Market Inc. boosted its stake in Kroger by 30.2% during the first quarter. Cibc World Market Inc. now owns 29,150 shares of the company’s stock worth $1,672,000 after buying an additional 6,764 shares during the period. Blair William & Co. IL boosted its stake in Kroger by 7.1% during the first quarter. Blair William & Co. IL now owns 14,673 shares of the company’s stock worth $842,000 after buying an additional 974 shares during the period. Prudential PLC purchased a new position in Kroger during the first quarter worth about $1,443,000. Finally, Moors & Cabot Inc. boosted its stake in Kroger by 3.6% during the first quarter. Moors & Cabot Inc. now owns 7,703 shares of the company’s stock worth $442,000 after buying an additional 269 shares during the period. 78.98% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on KR. HSBC assumed coverage on shares of Kroger in a research note on Friday, September 22nd. They set a “hold” rating and a $52.00 target price for the company. StockNews.com assumed coverage on shares of Kroger in a research note on Thursday, October 5th. They issued a “buy” rating for the company. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $55.00 price objective on shares of Kroger in a research note on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $52.57.
In other news, VP Carin L. Fike sold 6,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $46.50, for a total transaction of $279,000.00. Following the completion of the transaction, the vice president now owns 44,090 shares of the company’s stock, valued at approximately $2,050,185. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Carin L. Fike sold 4,798 shares of the stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $45.52, for a total transaction of $218,404.96. Following the completion of the sale, the vice president now owns 4,156 shares of the company’s stock, valued at approximately $189,181.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Carin L. Fike sold 6,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $46.50, for a total transaction of $279,000.00. Following the sale, the vice president now directly owns 44,090 shares of the company’s stock, valued at approximately $2,050,185. The disclosure for this sale can be found here. Insiders sold a total of 33,798 shares of company stock valued at $1,542,985 in the last 90 days. 1.38% of the stock is currently owned by insiders.
Kroger Price Performance
Kroger stock opened at $42.43 on Friday. The Kroger Co. has a 52 week low of $42.10 and a 52 week high of $50.41. 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 firm’s 50-day simple moving average is $44.70 and its 200 day simple moving average is $46.51. The firm has a market capitalization of $30.52 billion, a PE ratio of 18.94, a P/E/G ratio of 2.09 and a beta of 0.50.
Kroger (NYSE:KR – Get Free Report) last announced its earnings results on Friday, September 8th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.05. Kroger had a net margin of 1.10% and a return on equity of 30.61%. The firm had revenue of $33.85 billion during the quarter, compared to the consensus estimate of $34.12 billion. During the same quarter in the previous year, the company posted $0.90 EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities research analysts predict that The Kroger Co. will post 4.52 EPS for the current fiscal year.
Kroger Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Tuesday, November 14th. Kroger’s dividend payout ratio is currently 51.79%.
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.
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