Richard C. Young & CO. LTD. increased its stake in Kroger Co (NYSE:KR) by 17.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 168,131 shares of the company’s stock after purchasing an additional 25,227 shares during the quarter. Richard C. Young & CO. LTD.’s holdings in Kroger were worth $3,650,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of KR. Sterling Investment Advisors Ltd. purchased a new stake in Kroger during the first quarter valued at about $25,000. Motco purchased a new stake in Kroger during the first quarter valued at about $28,000. TRUE Private Wealth Advisors purchased a new stake in Kroger during the second quarter valued at about $26,000. Sageworth Trust Co purchased a new stake in Kroger during the second quarter valued at about $33,000. Finally, Penserra Capital Management LLC purchased a new stake in Kroger during the first quarter valued at about $38,000. 80.31% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on KR shares. Telsey Advisory Group reiterated a “market perform” rating and issued a $27.00 target price (down previously from $29.00) on shares of Kroger in a report on Friday, June 21st. Guggenheim lowered their price target on Kroger from $31.00 to $26.00 in a report on Monday, June 24th. Zacks Investment Research raised Kroger from a “sell” rating to a “hold” rating and set a $26.00 price objective for the company in a research report on Friday, May 31st. Sanford C. Bernstein raised Kroger from a “market perform” rating to an “outperform” rating and set a $33.00 price objective for the company in a research report on Monday, May 20th. Finally, Pivotal Research raised Kroger from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Friday, August 2nd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $28.61.
Kroger (NYSE:KR) last issued its earnings results on Thursday, June 20th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.01. Kroger had a return on equity of 21.79% and a net margin of 1.54%. The firm had revenue of $37.25 billion for the quarter, compared to analysts’ expectations of $37.27 billion. During the same quarter last year, the business earned $0.73 earnings per share. The company’s revenue was down 1.2% compared to the same quarter last year. On average, analysts forecast that Kroger Co will post 2.17 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Wednesday, August 14th. This is a boost from Kroger’s previous quarterly dividend of $0.14. Kroger’s payout ratio is 30.33%.
In other news, Director Ronald Sargent bought 5,000 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were purchased at an average price of $21.49 per share, for a total transaction of $107,450.00. Following the purchase, the director now owns 94,660 shares of the company’s stock, valued at approximately $2,034,243.40. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephen M. Mckinney sold 15,600 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $22.05, for a total value of $343,980.00. Following the completion of the sale, the insider now owns 168,070 shares in the company, valued at approximately $3,705,943.50. The disclosure for this sale can be found here. Insiders have sold a total of 43,600 shares of company stock worth $955,450 in the last quarter. 1.34% of the stock is currently owned by company insiders.
The Kroger Co operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. 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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