Symons Capital Management Inc. Makes New Investment in Kroger Co (NYSE:KR)

Symons Capital Management Inc. acquired a new position in Kroger Co (NYSE:KR) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 210,472 shares of the company’s stock, valued at approximately $5,426,000. Kroger makes up 2.5% of Symons Capital Management Inc.’s holdings, making the stock its 19th largest holding.

Several other hedge funds have also modified their holdings of the stock. Lenox Wealth Management Inc. raised its position in shares of Kroger by 10.8% in the third quarter. Lenox Wealth Management Inc. now owns 28,125 shares of the company’s stock worth $725,000 after buying an additional 2,732 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Kroger by 48.0% in the third quarter. SG Americas Securities LLC now owns 145,568 shares of the company’s stock worth $3,753,000 after buying an additional 47,180 shares in the last quarter. First Trust Advisors LP raised its position in shares of Kroger by 15.4% in the third quarter. First Trust Advisors LP now owns 1,716,109 shares of the company’s stock worth $44,241,000 after buying an additional 228,953 shares in the last quarter. Haverford Trust Co. purchased a new stake in shares of Kroger in the third quarter worth $458,000. Finally, Haverford Financial Services Inc. purchased a new stake in shares of Kroger in the third quarter worth $549,000. Institutional investors own 80.35% of the company’s stock.

In other news, SVP Mary Ellen Adcock sold 15,400 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $28.00, for a total transaction of $431,200.00. Following the transaction, the senior vice president now directly owns 121,085 shares of the company’s stock, valued at $3,390,380. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michael Joseph Donnelly sold 1,574 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $26.46, for a total value of $41,648.04. Following the transaction, the chief operating officer now directly owns 324,209 shares in the company, valued at $8,578,570.14. The disclosure for this sale can be found here. Insiders have sold 134,323 shares of company stock worth $3,537,389 over the last ninety days. Insiders own 1.34% of the company’s stock.

A number of equities research analysts recently issued reports on the company. Telsey Advisory Group increased their price objective on Kroger from $27.00 to $29.00 and gave the stock a “market perform” rating in a research report on Wednesday. Jefferies Financial Group downgraded Kroger from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $29.00 to $26.00 in a research report on Thursday, October 10th. Credit Suisse Group reiterated an “outperform” rating and issued a $29.00 price objective (up previously from $27.00) on shares of Kroger in a research report on Friday, September 13th. ValuEngine downgraded Kroger from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Finally, Citigroup reduced their target price on Kroger from $30.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. Kroger currently has an average rating of “Hold” and a consensus price target of $27.37.

KR traded up $0.16 during trading on Friday, reaching $27.02. The stock had a trading volume of 6,533,301 shares, compared to its average volume of 8,694,465. The stock has a market cap of $22.31 billion, a PE ratio of 12.81, a PEG ratio of 2.00 and a beta of 0.56. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.27 and a current ratio of 0.76. Kroger Co has a one year low of $20.70 and a one year high of $31.98. The business has a 50-day moving average of $25.12 and a 200-day moving average of $23.89.

Kroger (NYSE:KR) last released its earnings results on Thursday, September 12th. The company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.03. Kroger had a return on equity of 21.17% and a net margin of 1.36%. The business had revenue of $28.17 billion for the quarter, compared to analysts’ expectations of $28.34 billion. During the same quarter in the prior year, the firm earned $0.41 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. Equities research analysts forecast that Kroger Co will post 2.19 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.37%. Kroger’s dividend payout ratio (DPR) is currently 30.33%.

About Kroger

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.

Further Reading: Diversification Important in Investing

Institutional Ownership by Quarter for Kroger (NYSE:KR)

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