Country Trust Bank boosted its stake in shares of Kroger Co (NYSE:KR) by 8.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,018,250 shares of the company’s stock after acquiring an additional 79,599 shares during the quarter. Country Trust Bank owned 0.13% of Kroger worth $25,049,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in KR. Riverview Trust Co bought a new stake in shares of Kroger during the fourth quarter worth $26,000. Doyle Wealth Management bought a new position in Kroger in the fourth quarter valued at about $26,000. Lavaca Capital LLC bought a new position in Kroger in the first quarter valued at about $25,000. Lindbrook Capital LLC bought a new position in Kroger in the fourth quarter valued at about $32,000. Finally, Financial Gravity Companies Inc. bought a new position in Kroger in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 82.20% of the company’s stock.
In related news, Director Robert D. Beyer sold 80,000 shares of Kroger stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $24.52, for a total value of $1,961,600.00. Following the sale, the director now owns 126,800 shares of the company’s stock, valued at approximately $3,109,136. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.07% of the stock is currently owned by company insiders.
Several equities analysts have weighed in on the company. Buckingham Research cut their target price on Kroger from $24.00 to $22.00 and set an “underperform” rating on the stock in a research note on Friday, March 8th. Zacks Investment Research lowered Kroger from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Evercore ISI assumed coverage on Kroger in a research report on Wednesday, March 20th. They set an “in-line” rating and a $27.00 price target on the stock. Morgan Stanley dropped their price target on Kroger from $27.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Friday, March 8th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $29.00 price target (down previously from $31.00) on shares of Kroger in a research report on Friday, March 8th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $30.33.
Kroger stock traded up $0.11 during midday trading on Wednesday, reaching $25.68. The stock had a trading volume of 61,677 shares, compared to its average volume of 8,251,136. Kroger Co has a 1-year low of $23.52 and a 1-year high of $32.74. The firm has a market cap of $20.50 billion, a PE ratio of 12.23, a P/E/G ratio of 1.53 and a beta of 0.63. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.28 and a current ratio of 0.76.
Kroger (NYSE:KR) last announced its earnings results on Thursday, March 7th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.03). Kroger had a net margin of 2.57% and a return on equity of 23.50%. The firm had revenue of $28.09 billion during the quarter, compared to analyst estimates of $28.38 billion. During the same period in the prior year, the business posted $0.63 EPS. The firm’s quarterly revenue was down 9.5% compared to the same quarter last year. As a group, equities research analysts predict that Kroger Co will post 2.23 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Tuesday, May 14th. Kroger’s dividend payout ratio is presently 26.54%.
Kroger Company Profile
The Kroger Co, together with its subsidiaries, operates as a retailer in the United States. It also manufactures and processes food products for sale in its supermarkets. The company operates supermarkets, multi-department stores, jewelry stores, and convenience stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; multi-department stores provide general merchandise items, such as apparel, home fashion and furnishings, outdoor living, electronics, automotive products, toys, and fine jewelry; and price impact warehouse stores offer grocery, and health and beauty care items, as well as meat, dairy, baked goods, and fresh produce items.
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