State of New Jersey Common Pension Fund D maintained its position in Kroger Company (The) (NYSE:KR) during the second quarter, Holdings Channel reports. The fund owned 514,000 shares of the company’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in Kroger Company (The) were worth $11,986,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aldebaran Financial Inc. boosted its position in shares of Kroger Company (The) by 0.6% in the first quarter. Aldebaran Financial Inc. now owns 14,130 shares of the company’s stock valued at $417,000 after buying an additional 78 shares during the period. Cadence Capital Management LLC boosted its position in shares of Kroger Company (The) by 0.7% in the first quarter. Cadence Capital Management LLC now owns 19,717 shares of the company’s stock valued at $581,000 after buying an additional 143 shares during the period. YorkBridge Wealth Partners LLC boosted its position in shares of Kroger Company (The) by 4.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 4,323 shares of the company’s stock valued at $125,000 after buying an additional 171 shares during the period. Savant Capital LLC boosted its position in shares of Kroger Company (The) by 1.7% in the first quarter. Savant Capital LLC now owns 10,527 shares of the company’s stock valued at $310,000 after buying an additional 171 shares during the period. Finally, Peapack Gladstone Financial Corp boosted its position in shares of Kroger Company (The) by 1.7% in the first quarter. Peapack Gladstone Financial Corp now owns 11,189 shares of the company’s stock valued at $330,000 after buying an additional 189 shares during the period. 77.44% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Kroger Company (KR) opened at 23.94 on Thursday. Kroger Company has a 12-month low of $20.46 and a 12-month high of $36.44. The company has a 50-day moving average price of $23.37 and a 200 day moving average price of $28.52. The firm has a market capitalization of $21.48 billion, a PE ratio of 14.41 and a beta of 0.76.

Kroger Company (The) (NYSE:KR) last issued its earnings results on Thursday, June 15th. The company reported $0.58 earnings per share for the quarter, hitting the consensus estimate of $0.58. Kroger Company (The) had a net margin of 1.35% and a return on equity of 29.10%. The company had revenue of $36.29 billion for the quarter, compared to analyst estimates of $35.69 billion. During the same period in the prior year, the business posted $0.70 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts expect that Kroger Company will post $1.98 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.125 per share. This is a positive change from Kroger Company (The)’s previous quarterly dividend of $0.12. This represents a $0.50 annualized dividend and a yield of 2.09%. The ex-dividend date is Friday, August 11th. Kroger Company (The)’s dividend payout ratio is presently 28.92%.

Kroger Company (The) announced that its board has approved a stock repurchase plan on Thursday, June 22nd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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Several research analysts recently issued reports on KR shares. Royal Bank Of Canada reissued a “buy” rating and issued a $37.00 price objective on shares of Kroger Company (The) in a research note on Friday, May 12th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Kroger Company (The) in a research report on Friday, May 12th. Vetr cut Kroger Company (The) from a “strong-buy” rating to a “buy” rating and set a $33.46 target price on the stock. in a research report on Wednesday, May 10th. Wells Fargo & Company reaffirmed a “buy” rating and set a $28.00 target price (down previously from $35.00) on shares of Kroger Company (The) in a research report on Monday, June 12th. Finally, Argus reaffirmed a “buy” rating on shares of Kroger Company (The) in a research report on Monday, June 19th. Eighteen equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $30.55.

In other news, Director Susan M. Phillips sold 6,200 shares of the stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $21.17, for a total value of $131,254.00. Following the sale, the director now directly owns 124,105 shares in the company, valued at $2,627,302.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider J Michael Schlotman purchased 2,000 shares of the stock in a transaction dated Monday, June 26th. The stock was acquired at an average price of $22.73 per share, for a total transaction of $45,460.00. The disclosure for this purchase can be found here. Corporate insiders own 0.85% of the company’s stock.

About Kroger Company (The)

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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Institutional Ownership by Quarter for Kroger Company (The) (NYSE:KR)

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