Natixis lifted its position in The Kroger Co. (NYSE:KR) by 9.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,085,933 shares of the company’s stock after buying an additional 94,740 shares during the quarter. Natixis’ holdings in The Kroger were worth $41,602,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. raised its stake in The Kroger by 2.7% during the 2nd quarter. BlackRock Inc. now owns 76,077,865 shares of the company’s stock valued at $2,914,544,000 after purchasing an additional 2,005,835 shares during the last quarter. Berkshire Hathaway Inc raised its stake in The Kroger by 52.3% during the 1st quarter. Berkshire Hathaway Inc now owns 51,060,296 shares of the company’s stock valued at $1,837,660,000 after purchasing an additional 17,526,279 shares during the last quarter. Geode Capital Management LLC raised its stake in The Kroger by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 13,427,096 shares of the company’s stock valued at $513,065,000 after purchasing an additional 269,543 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in The Kroger by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,612,808 shares of the company’s stock valued at $444,944,000 after purchasing an additional 700,718 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of The Kroger by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,195,583 shares of the company’s stock valued at $313,974,000 after buying an additional 237,429 shares in the last quarter. Institutional investors and hedge funds own 82.42% of the company’s stock.
In related news, VP Todd A. Foley sold 28,874 shares of the firm’s stock in a transaction on Tuesday, October 5th. The shares were sold at an average price of $39.83, for a total transaction of $1,150,051.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mary Ellen Adcock sold 18,500 shares of the firm’s stock in a transaction on Tuesday, September 14th. The stock was sold at an average price of $42.08, for a total transaction of $778,480.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,479 shares of company stock worth $2,966,226. Corporate insiders own 1.35% of the company’s stock.
The Kroger (NYSE:KR) last released its quarterly earnings data on Thursday, September 9th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.16. The Kroger had a net margin of 0.87% and a return on equity of 28.26%. The business had revenue of $31.68 billion for the quarter, compared to analyst estimates of $30.69 billion. During the same quarter last year, the firm earned $0.73 EPS. The Kroger’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities analysts forecast that The Kroger Co. will post 3.28 earnings per share for the current year.
The Kroger announced that its Board of Directors has approved a share repurchase program on Thursday, June 17th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 1st. Investors of record on Monday, November 15th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.13%. The ex-dividend date is Friday, November 12th. The Kroger’s payout ratio is presently 24.21%.
KR has been the subject of several recent analyst reports. Citigroup raised their price objective on shares of The Kroger from $37.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, June 18th. Northcoast Research lifted their price objective on The Kroger from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, September 7th. boosted their price objective on The Kroger from $37.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, June 18th. Credit Suisse Group raised their target price on The Kroger from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, September 13th. Finally, BMO Capital Markets upped their price target on shares of The Kroger from $36.00 to $39.00 and gave the stock a “market perform” rating in a research report on Monday, September 13th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $38.44.
The Kroger Company Profile
The Kroger Co engages in the operation of supermarkets and multi-department stores. Its brands include Big K, Check This Out…, Heritage Farm, Simple Truth, and Simple Truth Organic. The company was founded by Barney Kroger in 1883 and is headquartered in Cincinnati, OH.
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