Mackenzie Financial Corp Trims Stock Position in The Kroger Co. $KR

Mackenzie Financial Corp lessened its holdings in The Kroger Co. (NYSE:KR) by 18.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 772,065 shares of the company’s stock after selling 169,953 shares during the period. Mackenzie Financial Corp owned about 0.12% of Kroger worth $55,380,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Accent Capital Management LLC bought a new position in Kroger in the first quarter worth approximately $25,000. SOA Wealth Advisors LLC. raised its holdings in Kroger by 6,840.0% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 347 shares of the company’s stock worth $25,000 after purchasing an additional 342 shares during the period. Atlantic Union Bankshares Corp bought a new position in Kroger in the 2nd quarter worth $28,000. Rossby Financial LCC purchased a new position in Kroger during the second quarter valued at $29,000. Finally, Whipplewood Advisors LLC grew its holdings in Kroger by 10,425.0% during the second quarter. Whipplewood Advisors LLC now owns 421 shares of the company’s stock valued at $30,000 after purchasing an additional 417 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on KR shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Kroger in a research report on Tuesday. Roth Mkm raised shares of Kroger from a “neutral” rating to a “buy” rating and lifted their price target for the company from $66.00 to $75.00 in a report on Wednesday, September 17th. Roth Capital upgraded shares of Kroger from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Wednesday, September 17th. Telsey Advisory Group restated an “outperform” rating and set a $82.00 price objective on shares of Kroger in a research report on Thursday, September 11th. Finally, Argus set a $85.00 target price on shares of Kroger in a report on Thursday, September 18th. Ten analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Kroger presently has an average rating of “Moderate Buy” and an average price target of $74.39.

Kroger Price Performance

KR stock opened at $67.47 on Friday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.54 and a current ratio of 0.95. The company’s fifty day moving average price is $66.43 and its 200-day moving average price is $68.30. The Kroger Co. has a one year low of $57.69 and a one year high of $74.90. The company has a market capitalization of $44.71 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 1.92 and a beta of 0.55.

Kroger (NYSE:KR) last posted its earnings results on Thursday, September 11th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. The company had revenue of $33.94 billion during the quarter, compared to analysts’ expectations of $34.08 billion. Kroger had a net margin of 1.86% and a return on equity of 32.62%. Kroger’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the company posted $0.93 earnings per share. Kroger has set its FY 2025 guidance at 4.700-4.800 EPS. On average, equities analysts anticipate that The Kroger Co. will post 4.44 EPS for the current fiscal year.

Kroger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, November 14th. Kroger’s payout ratio is 35.53%.

Kroger Profile

The Kroger Co operates as a food and drug retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.