The Kroger Co. (NYSE:KR) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc cut its stake in shares of The Kroger Co. (NYSE:KRGet Rating) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,754 shares of the company’s stock after selling 852 shares during the quarter. CIBC Asset Management Inc’s holdings in Kroger were worth $3,944,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Capital World Investors grew its holdings in shares of Kroger by 24.8% during the fourth quarter. Capital World Investors now owns 15,666,470 shares of the company’s stock valued at $709,064,000 after purchasing an additional 3,112,175 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in Kroger by 0.5% in the 4th quarter. Parametric Portfolio Associates LLC now owns 6,564,640 shares of the company’s stock worth $297,116,000 after buying an additional 33,929 shares in the last quarter. Norges Bank bought a new position in Kroger in the 4th quarter worth approximately $236,958,000. Charles Schwab Investment Management Inc. grew its holdings in Kroger by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,318,317 shares of the company’s stock worth $195,448,000 after buying an additional 132,555 shares in the last quarter. Finally, Schroder Investment Management Group grew its holdings in Kroger by 3.7% in the 4th quarter. Schroder Investment Management Group now owns 3,076,987 shares of the company’s stock worth $139,265,000 after buying an additional 108,688 shares in the last quarter. 81.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KR. Bank of America raised Kroger from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $61.00 to $75.00 in a report on Friday, April 8th. Morgan Stanley increased their price objective on Kroger from $38.00 to $41.00 and gave the stock an “underweight” rating in a report on Friday, June 17th. BNP Paribas raised Kroger from an “underperform” rating to a “neutral” rating and set a $60.00 price objective for the company in a report on Friday, April 22nd. Deutsche Bank Aktiengesellschaft upped their target price on Kroger from $50.00 to $53.00 in a research report on Friday, June 17th. Finally, MKM Partners upped their target price on Kroger from $48.00 to $55.00 in a research report on Tuesday, June 21st. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $52.22.

Kroger Price Performance

Shares of NYSE:KR opened at $47.25 on Friday. The Kroger Co. has a one year low of $38.22 and a one year high of $62.78. The stock has a fifty day moving average of $48.47 and a 200-day moving average of $50.99. The company has a market capitalization of $33.81 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 1.06 and a beta of 0.49. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.30 and a current ratio of 0.76.

Kroger (NYSE:KRGet Rating) last announced its quarterly earnings data on Thursday, June 16th. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.17. The company had revenue of $44.60 billion during the quarter, compared to the consensus estimate of $44.23 billion. Kroger had a return on equity of 31.50% and a net margin of 1.54%. During the same quarter in the prior year, the firm earned $1.19 EPS. As a group, equities analysts anticipate that The Kroger Co. will post 3.92 EPS for the current fiscal year.

Kroger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 15th will be issued a $0.26 dividend. The ex-dividend date is Friday, August 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.20%. This is a positive change from Kroger’s previous quarterly dividend of $0.21. Kroger’s dividend payout ratio is presently 28.97%.

About Kroger

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The Kroger Co operates as a retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. 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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Institutional Ownership by Quarter for Kroger (NYSE:KR)

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