Texas Permanent School Fund trimmed its stake in The Kroger Co. (NYSE:KR – Get Rating) by 7.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 86,786 shares of the company’s stock after selling 6,552 shares during the period. Texas Permanent School Fund’s holdings in Kroger were worth $4,979,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of KR. Norges Bank bought a new stake in shares of Kroger in the 4th quarter valued at approximately $236,958,000. Capital World Investors lifted its stake in shares of Kroger by 24.8% in the 4th quarter. Capital World Investors now owns 15,666,470 shares of the company’s stock valued at $709,064,000 after purchasing an additional 3,112,175 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Kroger in the 4th quarter valued at approximately $131,061,000. Broad Peak Investment Holdings Ltd. bought a new stake in shares of Kroger in the 4th quarter valued at approximately $30,415,000. Finally, Nuveen Asset Management LLC lifted its stake in shares of Kroger by 28.5% in the 4th quarter. Nuveen Asset Management LLC now owns 2,813,730 shares of the company’s stock valued at $127,349,000 after purchasing an additional 623,790 shares during the last quarter. 81.52% of the stock is owned by institutional investors.
Analyst Ratings Changes
KR has been the subject of several analyst reports. BNP Paribas raised Kroger from an “underperform” rating to a “neutral” rating and set a $60.00 price objective for the company in a research note on Friday, April 22nd. Morgan Stanley upped their price objective on Kroger from $38.00 to $41.00 and gave the company an “underweight” rating in a research report on Friday, June 17th. Evercore ISI reiterated a “hold” rating and set a $54.00 target price on shares of Kroger in a research report on Friday, June 17th. Bank of America raised shares of Kroger from a “neutral” rating to a “buy” rating and boosted their target price for the company from $61.00 to $75.00 in a research note on Friday, April 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Kroger from $50.00 to $53.00 in a research note on Friday, June 17th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $52.22.
Kroger Stock Up 1.2 %
Kroger (NYSE:KR – Get Rating) last released its quarterly earnings results on Thursday, June 16th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.28 by $0.17. The business had revenue of $44.60 billion during the quarter, compared to analyst estimates of $44.23 billion. Kroger had a net margin of 1.54% and a return on equity of 31.50%. During the same period in the prior year, the firm posted $1.19 earnings per share. As a group, research analysts anticipate that The Kroger Co. will post 3.92 EPS for the current fiscal year.
Kroger Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Monday, August 15th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.20%. This is a positive change from Kroger’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, August 12th. Kroger’s dividend payout ratio is presently 28.97%.
The Kroger Co operates as a 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.
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