Canada Pension Plan Investment Board reduced its stake in shares of Kroger Company (The) (NYSE:KR) by 20.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,255,144 shares of the company’s stock after selling 316,369 shares during the period. Canada Pension Plan Investment Board’s holdings in Kroger Company (The) were worth $29,270,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Signature Estate & Investment Advisors LLC purchased a new stake in Kroger Company (The) during the first quarter valued at approximately $102,000. Advantage Investment Management LLC boosted its stake in Kroger Company (The) by 15.8% in the first quarter. Advantage Investment Management LLC now owns 3,682 shares of the company’s stock valued at $109,000 after buying an additional 502 shares during the period. Cedar Wealth Management LLC boosted its stake in Kroger Company (The) by 155.9% in the second quarter. Cedar Wealth Management LLC now owns 4,990 shares of the company’s stock valued at $116,000 after buying an additional 3,040 shares during the period. CWM LLC boosted its stake in Kroger Company (The) by 1,162.2% in the second quarter. CWM LLC now owns 5,213 shares of the company’s stock valued at $122,000 after buying an additional 4,800 shares during the period. Finally, Grove Bank & Trust boosted its stake in Kroger Company (The) by 9.3% in the second quarter. Grove Bank & Trust now owns 5,287 shares of the company’s stock valued at $124,000 after buying an additional 450 shares during the period. 77.44% of the stock is owned by institutional investors.

Shares of Kroger Company (NYSE:KR) opened at 23.49 on Friday. The company has a market capitalization of $21.08 billion, a price-to-earnings ratio of 14.14 and a beta of 0.76. The stock has a 50 day moving average price of $23.43 and a 200-day moving average price of $28.42. Kroger Company has a one year low of $20.46 and a one year high of $36.44.

Kroger Company (The) (NYSE:KR) last issued its earnings results on Thursday, June 15th. The company reported $0.58 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.58. The company had revenue of $36.29 billion during the quarter, compared to the consensus estimate of $35.69 billion. Kroger Company (The) had a return on equity of 29.10% and a net margin of 1.35%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $0.70 EPS. On average, equities research analysts expect that Kroger Company will post $1.98 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Friday, August 11th. This is an increase from Kroger Company (The)’s previous quarterly dividend of $0.12. This represents a $0.50 annualized dividend and a dividend yield of 2.13%. Kroger Company (The)’s dividend payout ratio (DPR) is currently 28.92%.

Kroger Company (The) announced that its Board of Directors has approved a stock buyback plan on Thursday, June 22nd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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Several equities research analysts have recently commented on the company. Loop Capital assumed coverage on Kroger Company (The) in a research note on Monday, May 15th. They issued a “hold” rating and a $32.00 target price for the company. TheStreet cut Kroger Company (The) from a “b” rating to a “c+” rating in a research note on Thursday, June 15th. Wells Fargo & Company reissued an “outperform” rating and issued a $28.00 target price on shares of Kroger Company (The) in a research note on Sunday, July 2nd. Vetr cut Kroger Company (The) from a “strong-buy” rating to a “buy” rating and set a $33.46 target price for the company. in a research note on Wednesday, May 10th. Finally, BMO Capital Markets set a $32.00 target price on Kroger Company (The) and gave the company a “hold” rating in a research note on Saturday, June 10th. One analyst has rated the stock with a sell rating, eighteen have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $30.09.

In other news, insider J Michael Schlotman bought 2,000 shares of Kroger Company (The) stock in a transaction dated Monday, June 26th. The stock was bought at an average cost of $22.73 per share, for a total transaction of $45,460.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Susan M. Phillips sold 6,200 shares of the firm’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $21.17, for a total value of $131,254.00. Following the completion of the sale, the director now owns 124,105 shares of the company’s stock, valued at $2,627,302.85. The disclosure for this sale can be found here. Company insiders own 0.85% of the company’s stock.

Kroger Company (The) Company Profile

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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Institutional Ownership by Quarter for Kroger Company (The) (NYSE:KR)

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