Boston Common Asset Management LLC Acquires 13,405 Shares of Kroger Company (The) (KR)
Boston Common Asset Management LLC lifted its holdings in Kroger Company (The) (NYSE:KR) by 58.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,360 shares of the company’s stock after buying an additional 13,405 shares during the quarter. Boston Common Asset Management LLC’s holdings in Kroger Company (The) were worth $848,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in KR. Dupont Capital Management Corp purchased a new position in Kroger Company (The) during the 2nd quarter valued at about $105,000. Cedar Wealth Management LLC boosted its stake in Kroger Company (The) by 155.9% during the second quarter. Cedar Wealth Management LLC now owns 4,990 shares of the company’s stock worth $116,000 after acquiring an additional 3,040 shares in the last quarter. CWM LLC boosted its stake in Kroger Company (The) by 1,162.2% during the second quarter. CWM LLC now owns 5,213 shares of the company’s stock worth $122,000 after acquiring an additional 4,800 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Kroger Company (The) by 497.2% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,273 shares of the company’s stock worth $129,000 after acquiring an additional 4,390 shares in the last quarter. Finally, Grove Bank & Trust boosted its stake in Kroger Company (The) by 9.3% during the second quarter. Grove Bank & Trust now owns 5,287 shares of the company’s stock worth $124,000 after acquiring an additional 450 shares in the last quarter. 75.83% of the stock is currently owned by hedge funds and other institutional investors.
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Several research firms have recently issued reports on KR. Royal Bank Of Canada set a $34.00 target price on shares of Kroger Company (The) and gave the company a “buy” rating in a report on Monday, August 28th. Zacks Investment Research cut Kroger Company (The) from a “hold” rating to a “sell” rating in a research report on Tuesday, August 29th. Oppenheimer Holdings, Inc. downgraded Kroger Company (The) to a “market perform” rating and cut their price target for the stock from $28.00 to $23.00 in a research note on Friday, September 8th. Jefferies Group LLC reaffirmed a “hold” rating on shares of Kroger Company (The) in a research report on Friday, August 25th. Finally, Deutsche Bank AG set a $26.00 price objective on Kroger Company (The) and gave the company a “buy” rating in a research note on Monday, June 19th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Kroger Company (The) presently has an average rating of “Hold” and a consensus target price of $28.58.
Kroger Company (NYSE KR) traded down 0.25% during trading on Monday, reaching $20.01. The company had a trading volume of 4,054,845 shares. Kroger Company has a 52 week low of $19.69 and a 52 week high of $36.44. The firm has a market capitalization of $17.80 billion, a P/E ratio of 12.11 and a beta of 0.76. The stock has a 50 day moving average price of $22.65 and a 200 day moving average price of $26.28.
Kroger Company (The) (NYSE:KR) last posted its quarterly earnings results on Friday, September 8th. The company reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. Kroger Company (The) had a net margin of 1.32% and a return on equity of 28.04%. The company had revenue of $27.60 billion for the quarter, compared to analyst estimates of $27.48 billion. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.47 earnings per share. Analysts predict that Kroger Company will post $1.97 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.125 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.49%. Kroger Company (The)’s payout ratio is currently 30.30%.
Kroger Company (The) announced that its board has approved a stock repurchase program on Thursday, June 22nd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
About Kroger Company (The)
The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.
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