Public Employees Retirement System of Ohio Reduces Position in Kroger Co (NYSE:KR)
Public Employees Retirement System of Ohio decreased its holdings in shares of Kroger Co (NYSE:KR) by 16.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 320,789 shares of the company’s stock after selling 61,295 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Kroger were worth $6,964,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. CIBC Asset Management Inc grew its position in shares of Kroger by 0.5% during the 1st quarter. CIBC Asset Management Inc now owns 91,859 shares of the company’s stock worth $2,260,000 after buying an additional 417 shares in the last quarter. Keystone Financial Group grew its holdings in Kroger by 4.9% during the 2nd quarter. Keystone Financial Group now owns 11,264 shares of the company’s stock worth $245,000 after acquiring an additional 527 shares in the last quarter. 6 Meridian increased its position in Kroger by 3.6% during the 2nd quarter. 6 Meridian now owns 17,271 shares of the company’s stock valued at $375,000 after purchasing an additional 595 shares during the period. Raymond James Trust N.A. increased its position in Kroger by 0.5% during the 2nd quarter. Raymond James Trust N.A. now owns 121,779 shares of the company’s stock valued at $2,643,000 after purchasing an additional 599 shares during the period. Finally, Creative Financial Designs Inc. ADV raised its holdings in shares of Kroger by 16.3% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 4,401 shares of the company’s stock valued at $96,000 after purchasing an additional 616 shares in the last quarter. 80.64% of the stock is currently owned by hedge funds and other institutional investors.
Shares of KR traded down $0.40 during midday trading on Wednesday, hitting $25.42. 6,597,921 shares of the company’s stock traded hands, compared to its average volume of 7,741,217. The company has a current ratio of 0.75, a quick ratio of 0.25 and a debt-to-equity ratio of 2.16. The stock has a market capitalization of $20.63 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 1.78 and a beta of 0.56. Kroger Co has a 1 year low of $20.70 and a 1 year high of $32.08. The firm’s fifty day moving average is $22.98 and its 200-day moving average is $23.99.
The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Wednesday, August 14th. This is a boost from Kroger’s previous quarterly dividend of $0.14. Kroger’s dividend payout ratio (DPR) is 30.33%.
In related news, EVP J Michael Schlotman sold 15,000 shares of Kroger stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $22.01, for a total transaction of $330,150.00. Following the completion of the transaction, the executive vice president now directly owns 270,655 shares in the company, valued at $5,957,116.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronald Sargent purchased 5,000 shares of Kroger stock in a transaction that occurred on Tuesday, July 2nd. The shares were bought at an average price of $21.49 per share, with a total value of $107,450.00. Following the completion of the transaction, the director now owns 94,660 shares of the company’s stock, valued at approximately $2,034,243.40. The disclosure for this purchase can be found here. In the last three months, insiders have sold 43,600 shares of company stock valued at $955,450. 1.34% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently weighed in on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $27.00 price target (down previously from $29.00) on shares of Kroger in a research report on Friday, June 21st. BMO Capital Markets reissued a “market perform” rating and set a $26.00 price objective (up from $24.00) on shares of Kroger in a report on Wednesday, September 4th. Guggenheim set a $26.00 price objective on shares of Kroger and gave the company a “buy” rating in a report on Tuesday, September 3rd. Sanford C. Bernstein raised shares of Kroger from a “market perform” rating to an “outperform” rating and set a $33.00 price objective for the company in a research note on Monday, May 20th. Finally, Pivotal Research restated a “buy” rating and set a $26.00 target price on shares of Kroger in a report on Wednesday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $28.29.
The Kroger Co operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. 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.
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