Mackay Shields LLC cut its holdings in shares of Kroger Co (NYSE:KR) by 41.0% during the second quarter, HoldingsChannel.com reports. The fund owned 131,553 shares of the company’s stock after selling 91,581 shares during the period. Mackay Shields LLC’s holdings in Kroger were worth $3,743,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. TIAA FSB increased its holdings in shares of Kroger by 9.7% in the second quarter. TIAA FSB now owns 20,549 shares of the company’s stock worth $585,000 after purchasing an additional 1,812 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Kroger by 8.0% in the first quarter. Daiwa Securities Group Inc. now owns 28,856 shares of the company’s stock worth $691,000 after purchasing an additional 2,128 shares during the last quarter. St. Johns Investment Management Company LLC increased its holdings in shares of Kroger by 8.3% in the second quarter. St. Johns Investment Management Company LLC now owns 28,445 shares of the company’s stock worth $809,000 after purchasing an additional 2,170 shares during the last quarter. Naples Global Advisors LLC increased its holdings in shares of Kroger by 7.1% in the second quarter. Naples Global Advisors LLC now owns 34,227 shares of the company’s stock worth $974,000 after purchasing an additional 2,272 shares during the last quarter. Finally, Tyers Asset Management LLC increased its holdings in shares of Kroger by 1.7% in the first quarter. Tyers Asset Management LLC now owns 137,680 shares of the company’s stock worth $3,296,000 after purchasing an additional 2,336 shares during the last quarter. 80.87% of the stock is currently owned by institutional investors and hedge funds.

In other Kroger news, Director Susan J. Kropf sold 13,000 shares of the business’s stock in a transaction that occurred on Thursday, July 19th. The stock was sold at an average price of $28.43, for a total transaction of $369,590.00. Following the completion of the transaction, the director now owns 101,171 shares in the company, valued at $2,876,291.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Carin L. Fike sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 3rd. The shares were sold at an average price of $28.76, for a total value of $115,040.00. Following the transaction, the vice president now owns 29,361 shares of the company’s stock, valued at approximately $844,422.36. The disclosure for this sale can be found here. 1.07% of the stock is owned by insiders.

Several equities research analysts have recently issued reports on the company. Argus lifted their target price on Kroger from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Monday. Zacks Investment Research lowered Kroger from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. Pivotal Research lowered Kroger from a “buy” rating to a “hold” rating and lifted their price target for the stock from $30.00 to $31.00 in a research report on Monday, June 25th. Morgan Stanley lifted their price target on Kroger from $26.50 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, June 22nd. Finally, Credit Suisse Group lifted their price target on Kroger from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Friday, June 22nd. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Kroger presently has a consensus rating of “Hold” and an average price target of $29.45.

Shares of NYSE:KR opened at $31.40 on Tuesday. Kroger Co has a 1 year low of $19.69 and a 1 year high of $31.70. The company has a market cap of $24.98 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 2.20 and a beta of 0.95. The company has a quick ratio of 0.29, a current ratio of 0.76 and a debt-to-equity ratio of 1.74.

Kroger (NYSE:KR) last announced its earnings results on Thursday, June 21st. The company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.10. Kroger had a return on equity of 29.59% and a net margin of 2.93%. The business had revenue of $37.53 billion during the quarter, compared to analyst estimates of $37.25 billion. During the same quarter in the previous year, the business earned $0.58 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. analysts anticipate that Kroger Co will post 2.12 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 1st. Shareholders of record on Wednesday, August 15th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Tuesday, August 14th. This is a positive change from Kroger’s previous quarterly dividend of $0.13. Kroger’s payout ratio is 27.45%.

Kroger Profile

The Kroger Co, together with its subsidiaries, operates as a retailer in the United States. It also manufactures and processes food products for sale in its supermarkets. The company operates supermarkets, multi-department stores, jewelry stores, and convenience stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; multi-department stores provide general merchandise items, such as apparel, home fashion and furnishings, outdoor living, electronics, automotive products, toys, and fine jewelry; and price impact warehouse stores offer grocery, and health and beauty care items, as well as meat, dairy, baked goods, and fresh produce items.

Further Reading: Diversification in Your Portfolio

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Institutional Ownership by Quarter for Kroger (NYSE:KR)

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