Kroger Co (KR) Stake Raised by First Fiduciary Investment Counsel Inc.
First Fiduciary Investment Counsel Inc. grew its position in Kroger Co (NYSE:KR) by 0.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 448,830 shares of the company’s stock after purchasing an additional 1,920 shares during the period. Kroger comprises approximately 2.4% of First Fiduciary Investment Counsel Inc.’s holdings, making the stock its 22nd biggest holding. First Fiduciary Investment Counsel Inc. owned about 0.06% of Kroger worth $12,769,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. BlackRock Inc. lifted its position in Kroger by 2.3% during the 2nd quarter. BlackRock Inc. now owns 65,465,026 shares of the company’s stock worth $1,862,480,000 after buying an additional 1,490,831 shares in the last quarter. LSV Asset Management lifted its position in Kroger by 6.1% during the 2nd quarter. LSV Asset Management now owns 15,856,614 shares of the company’s stock worth $451,120,000 after buying an additional 907,367 shares in the last quarter. Aristotle Capital Management LLC lifted its position in Kroger by 7.2% during the 1st quarter. Aristotle Capital Management LLC now owns 10,367,993 shares of the company’s stock worth $248,210,000 after buying an additional 696,119 shares in the last quarter. Victory Capital Management Inc. lifted its position in Kroger by 1.4% during the 2nd quarter. Victory Capital Management Inc. now owns 8,533,613 shares of the company’s stock worth $242,781,000 after buying an additional 119,262 shares in the last quarter. Finally, Morgan Stanley lifted its position in Kroger by 12.4% during the 2nd quarter. Morgan Stanley now owns 7,621,037 shares of the company’s stock worth $216,820,000 after buying an additional 842,386 shares in the last quarter. Institutional investors own 78.72% of the company’s stock.
A number of analysts have recently commented on the company. Zacks Investment Research raised Kroger from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Tuesday, August 21st. ValuEngine cut Kroger from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 2nd. TheStreet raised Kroger from a “c+” rating to a “b” rating in a research note on Friday, June 29th. Credit Suisse Group set a $30.00 price target on Kroger and gave the company a “buy” rating in a research note on Thursday, May 17th. Finally, MED assumed coverage on Kroger in a research note on Monday, July 2nd. They issued a “hold” rating and a $30.00 price target for the company. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $30.30.
Kroger (NYSE:KR) last issued its quarterly earnings results on Thursday, September 13th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.03. The company had revenue of $27.87 billion during the quarter, compared to analysts’ expectations of $27.95 billion. Kroger had a net margin of 2.93% and a return on equity of 29.59%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the business earned $0.39 EPS. sell-side analysts expect that Kroger Co will post 2.12 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 17th. Stockholders of record on Friday, September 28th will be paid a dividend of $0.455 per share. This is a boost from Kroger’s previous quarterly dividend of $0.14. This represents a $1.82 annualized dividend and a dividend yield of 6.37%. The ex-dividend date is Thursday, September 27th. Kroger’s dividend payout ratio (DPR) is currently 27.45%.
In other news, Director Susan J. Kropf sold 13,000 shares of the stock in a transaction that occurred on Thursday, July 19th. The stock was sold at an average price of $28.43, for a total value of $369,590.00. Following the completion of the sale, the director now owns 101,171 shares of the company’s stock, valued at approximately $2,876,291.53. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Carin L. Fike sold 4,000 shares of the 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 completion of the sale, the vice president now directly 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 company insiders.
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.
Featured Article: How to Invest in an Index Fund
Want to see what other hedge funds are holding KR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kroger Co (NYSE:KR).
Receive News & Ratings for Kroger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kroger and related companies with MarketBeat.com's FREE daily email newsletter.