Kroger Co (KR) Shares Sold by Pinebridge Investments L.P.
Pinebridge Investments L.P. lowered its stake in Kroger Co (NYSE:KR) by 98.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,084 shares of the company’s stock after selling 368,940 shares during the period. Pinebridge Investments L.P.’s holdings in Kroger were worth $102,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its stake in Kroger by 6,611.2% in the 2nd quarter. Janus Henderson Group PLC now owns 8,260,260 shares of the company’s stock valued at $192,630,000 after buying an additional 8,137,179 shares during the period. FMR LLC boosted its stake in shares of Kroger by 17.7% in the second quarter. FMR LLC now owns 49,409,616 shares of the company’s stock worth $1,152,232,000 after acquiring an additional 7,446,349 shares during the period. Artisan Partners Limited Partnership bought a new position in shares of Kroger in the third quarter worth about $119,454,000. Principal Financial Group Inc. boosted its stake in shares of Kroger by 255.5% in the second quarter. Principal Financial Group Inc. now owns 6,596,264 shares of the company’s stock worth $153,825,000 after acquiring an additional 4,740,751 shares during the period. Finally, Equity Investment Corp Acquisition Inc bought a new position in shares of Kroger in the second quarter worth about $71,486,000. 79.10% of the stock is owned by institutional investors.
Shares of Kroger Co (NYSE KR) traded down $0.25 during trading on Wednesday, reaching $26.33. The company had a trading volume of 7,762,600 shares, compared to its average volume of 12,259,262. Kroger Co has a 52 week low of $19.69 and a 52 week high of $36.44. The company has a market capitalization of $23,426.60, a price-to-earnings ratio of 13.70, a PEG ratio of 3.51 and a beta of 0.92. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.31 and a current ratio of 0.85.
Kroger (NYSE:KR) last announced its quarterly earnings results on Thursday, November 30th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. Kroger had a return on equity of 28.60% and a net margin of 1.31%. The company had revenue of $27.75 billion during the quarter, compared to analyst estimates of $27.48 billion. During the same period in the prior year, the company earned $0.41 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. sell-side analysts predict that Kroger Co will post 2.02 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th were given a dividend of $0.125 per share. The ex-dividend date was Tuesday, November 14th. This represents a $0.50 dividend on an annualized basis and a yield of 1.90%. Kroger’s dividend payout ratio (DPR) is presently 29.76%.
In other Kroger news, VP Carin L. Fike sold 1,538 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $25.61, for a total transaction of $39,388.18. Following the sale, the vice president now directly owns 25,956 shares in the company, valued at $664,733.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jorge P. Montoya sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $26.98, for a total value of $269,800.00. Following the sale, the director now owns 108,910 shares in the company, valued at $2,938,391.80. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company’s stock.
KR has been the subject of a number of recent analyst reports. Oppenheimer reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Kroger in a research note on Tuesday, September 5th. Deutsche Bank lowered Kroger from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $26.00 to $21.00 in a research note on Monday, September 11th. Zacks Investment Research raised Kroger from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $22.00 price objective on shares of Kroger in a research note on Tuesday, November 14th. Finally, Royal Bank of Canada set a $34.00 price objective on Kroger and gave the stock a “buy” rating in a research note on Monday, August 28th. Eighteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Kroger currently has a consensus rating of “Hold” and an average price target of $29.16.
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Kroger 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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