Kroger Co. (KR) Stake Boosted by Victory Capital Management Inc.
Victory Capital Management Inc. raised its stake in Kroger Co. (NYSE:KR) by 6.5% during the second quarter, Holdings Channel reports. The fund owned 34,176 shares of the company’s stock after buying an additional 2,081 shares during the period. Victory Capital Management Inc.’s holdings in Kroger were worth $1,257,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in KR. Wesbanco Bank Inc. raised its stake in shares of Kroger by 253.3% in the second quarter. Wesbanco Bank Inc. now owns 38,919 shares of the company’s stock valued at $1,432,000 after buying an additional 27,903 shares during the period. Icon Advisers Inc. Co. raised its stake in shares of Kroger by 18.8% in the second quarter. Icon Advisers Inc. Co. now owns 45,600 shares of the company’s stock valued at $1,678,000 after buying an additional 7,200 shares during the period. Affinity Investment Advisors LLC raised its stake in shares of Kroger by 1.6% in the second quarter. Affinity Investment Advisors LLC now owns 352,560 shares of the company’s stock valued at $12,971,000 after buying an additional 5,681 shares during the period. Schroder Investment Management Group raised its stake in shares of Kroger by 0.3% in the second quarter. Schroder Investment Management Group now owns 768,002 shares of the company’s stock valued at $28,255,000 after buying an additional 2,447 shares during the period. Finally, Bowling Portfolio Management LLC raised its stake in shares of Kroger by 8.1% in the second quarter. Bowling Portfolio Management LLC now owns 271,566 shares of the company’s stock valued at $9,991,000 after buying an additional 20,264 shares during the period. 80.18% of the stock is owned by institutional investors.
Shares of Kroger Co. (NYSE:KR) traded down 0.93% during mid-day trading on Wednesday, hitting $30.80. The company’s stock had a trading volume of 6,772,912 shares. The company has a 50-day moving average of $32.08 and a 200 day moving average of $35.32. Kroger Co. has a 1-year low of $30.45 and a 1-year high of $42.75. The company has a market cap of $29.08 billion, a price-to-earnings ratio of 14.60 and a beta of 0.72.
Kroger (NYSE:KR) last announced its quarterly earnings results on Friday, September 9th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. The firm had revenue of $26.60 billion for the quarter. Kroger had a return on equity of 32.52% and a net margin of 1.82%. Kroger’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $0.44 EPS. On average, analysts expect that Kroger Co. will post $2.13 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Thursday, November 10th. Kroger’s dividend payout ratio (DPR) is presently 22.86%.
Several analysts have recently weighed in on the company. BMO Capital Markets set a $35.00 price objective on Kroger and gave the company a “hold” rating in a report on Sunday, September 11th. Telsey Advisory Group cut their price objective on Kroger from $46.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, September 12th. Citigroup Inc. cut their price objective on Kroger from $43.00 to $39.00 and set a “buy” rating for the company in a report on Tuesday, September 13th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $37.00 target price on shares of Kroger in a report on Friday, September 16th. Finally, Wolfe Research downgraded Kroger from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 15th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Kroger presently has an average rating of “Buy” and a consensus price target of $39.38.
In other news, VP Oflen Mary Elizabeth Van sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $37.85, for a total value of $454,200.00. Following the transaction, the vice president now owns 82,349 shares of the company’s stock, valued at $3,116,909.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kevin M. Dougherty sold 31,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $31.05, for a total value of $962,550.00. Following the completion of the transaction, the insider now directly owns 130,857 shares in the company, valued at approximately $4,063,109.85. The disclosure for this sale can be found here. Company insiders own 0.85% of the company’s stock.
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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