Traders Buy Shares of Kroger Co. (KR) on Weakness
Investors bought shares of Kroger Co. (NYSE:KR) on weakness during trading hours on Wednesday. $56.27 million flowed into the stock on the tick-up and $45.66 million flowed out of the stock on the tick-down, for a money net flow of $10.61 million into the stock. Of all stocks tracked, Kroger had the 10th highest net in-flow for the day. Kroger traded down ($0.25) for the day and closed at $30.84
KR has been the subject of a number of research analyst reports. Piper Jaffray Cos. reissued an “underweight” rating and issued a $31.00 price target on shares of Kroger in a research report on Thursday, September 8th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $37.00 price objective on shares of Kroger in a research report on Friday, September 16th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $42.00 price objective on shares of Kroger in a research report on Friday, July 15th. Wolfe Research lowered shares of Kroger from a “peer perform” rating to an “underperform” rating in a research report on Thursday, July 28th. Finally, Cleveland Research lowered shares of Kroger from a “buy” rating to a “hold” rating in a research report on Tuesday, August 23rd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Kroger currently has a consensus rating of “Buy” and a consensus target price of $39.38.
The firm has a market capitalization of $29.11 billion, a price-to-earnings ratio of 14.62 and a beta of 0.72. The stock’s 50-day moving average price is $32.03 and its 200-day moving average price is $35.29.
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Kroger (NYSE:KR) last issued its quarterly earnings data on Friday, September 9th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. Kroger had a return on equity of 32.52% and a net margin of 1.82%. The firm had revenue of $26.60 billion for the quarter. During the same period in the prior year, the company earned $0.44 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities analysts predict that Kroger Co. will post $2.13 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, November 10th. Kroger’s dividend payout ratio is 22.86%.
In other news, VP Oflen Mary Elizabeth Van sold 12,000 shares of the stock in a transaction on Friday, July 8th. The stock was sold at an average price of $37.85, for a total transaction of $454,200.00. Following the sale, the vice president now directly owns 82,349 shares of the company’s stock, valued at approximately $3,116,909.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kevin M. Dougherty sold 31,000 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $31.05, for a total value of $962,550.00. Following the sale, the insider now directly owns 130,857 shares in the company, valued at $4,063,109.85. The disclosure for this sale can be found here. 0.85% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Physicians Financial Services Inc. raised its stake in Kroger by 7,500.0% in the second quarter. Physicians Financial Services Inc. now owns 3,040 shares of the company’s stock valued at $112,000 after buying an additional 3,000 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Kroger by 32.7% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,246 shares of the company’s stock valued at $119,000 after buying an additional 800 shares during the period. Integrated Investment Consultants LLC raised its stake in Kroger by 2.8% in the second quarter. Integrated Investment Consultants LLC now owns 3,722 shares of the company’s stock valued at $137,000 after buying an additional 100 shares during the period. Barnett & Company Inc. bought a new stake in Kroger during the first quarter valued at about $145,000. Finally, Ledyard National Bank raised its stake in Kroger by 16.2% in the second quarter. Ledyard National Bank now owns 4,300 shares of the company’s stock valued at $158,000 after buying an additional 600 shares during the period. 80.18% of the stock is currently owned by institutional investors.
Kroger Company Profile
The Kroger Co (Kroger) operates retail food and drug stores, multi-department stores, jewelry stores and convenience stores across the United States. The Company also manufactures and processes food for sale in its supermarkets. It operates through retail operations segment. The Company operates, either directly or through its subsidiaries, approximately 2,778 retail food stores under a range of local banner names, approximately 1,387 of which have fuel centers.
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