Tocqueville Asset Management L.P. increased its holdings in shares of Kroger Co (NYSE:KR) by 4.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 281,168 shares of the company’s stock after buying an additional 10,723 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Kroger were worth $8,185,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of KR. Landaas & Co. WI ADV acquired a new stake in shares of Kroger in the 2nd quarter valued at about $100,000. Lee Financial Co acquired a new stake in shares of Kroger in the 3rd quarter valued at about $101,000. CSat Investment Advisory L.P. acquired a new stake in shares of Kroger in the 2nd quarter valued at about $109,000. Bridgeworth LLC acquired a new stake in shares of Kroger in the 2nd quarter valued at about $109,000. Finally, Zions Bancorporation acquired a new stake in shares of Kroger in the 3rd quarter valued at about $128,000. 79.94% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Clyde R. Moore sold 13,000 shares of Kroger stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $29.06, for a total transaction of $377,780.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mary Ellen Adcock sold 1,850 shares of Kroger stock in a transaction dated Monday, November 12th. The stock was sold at an average price of $31.21, for a total value of $57,738.50. Following the transaction, the insider now owns 97,119 shares of the company’s stock, valued at approximately $3,031,083.99. The disclosure for this sale can be found here. Insiders have sold 51,425 shares of company stock valued at $1,480,298 in the last quarter. 1.07% of the stock is currently owned by corporate insiders.
Shares of NYSE KR opened at $29.17 on Friday. The stock has a market capitalization of $23.57 billion, a PE ratio of 14.30, a P/E/G ratio of 2.08 and a beta of 0.79. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.73 and a quick ratio of 0.26. Kroger Co has a fifty-two week low of $22.85 and a fifty-two week high of $32.74.
Kroger (NYSE:KR) last announced its quarterly earnings data on Thursday, December 6th. The company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.05. The company had revenue of $27.67 billion during the quarter, compared to analysts’ expectations of $27.64 billion. Kroger had a return on equity of 26.64% and a net margin of 2.99%. Kroger’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 EPS. As a group, sell-side analysts forecast that Kroger Co will post 2.11 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, December 1st. Investors of record on Thursday, November 15th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Wednesday, November 14th. Kroger’s payout ratio is currently 27.45%.
Several research firms have issued reports on KR. Bank of America reissued a “buy” rating and issued a $37.00 price target (up previously from $35.00) on shares of Kroger in a research note on Friday. Stephens set a $30.00 price target on Kroger and gave the company a “hold” rating in a research note on Friday. Loop Capital set a $30.00 price target on Kroger and gave the company a “hold” rating in a research note on Friday. Credit Suisse Group lifted their price target on Kroger from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday. Finally, UBS Group lifted their price target on Kroger from $29.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, October 31st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $31.67.
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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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