The Kroger Co. $KR Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System grew its stake in The Kroger Co. (NYSE:KR) by 37.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 298,987 shares of the company’s stock after purchasing an additional 81,000 shares during the quarter. State of Michigan Retirement System’s holdings in Kroger were worth $21,446,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of KR. Accent Capital Management LLC acquired a new stake in shares of Kroger in the first quarter valued at about $25,000. SOA Wealth Advisors LLC. boosted its position in Kroger by 6,840.0% during the second quarter. SOA Wealth Advisors LLC. now owns 347 shares of the company’s stock worth $25,000 after acquiring an additional 342 shares during the last quarter. Rossby Financial LCC acquired a new position in Kroger during the second quarter worth about $29,000. Whipplewood Advisors LLC boosted its position in Kroger by 10,425.0% during the second quarter. Whipplewood Advisors LLC now owns 421 shares of the company’s stock worth $30,000 after acquiring an additional 417 shares during the last quarter. Finally, Capital Analysts LLC acquired a new position in Kroger during the first quarter worth about $36,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KR. Barclays began coverage on shares of Kroger in a research report on Monday, July 21st. They set an “equal weight” rating and a $75.00 price target on the stock. Guggenheim restated a “buy” rating and set a $78.00 price target on shares of Kroger in a research report on Friday, September 12th. Telsey Advisory Group restated an “outperform” rating and set a $82.00 price target on shares of Kroger in a research report on Thursday, September 11th. Evercore ISI lowered their price target on shares of Kroger from $82.00 to $80.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 14th. Finally, Argus set a $85.00 target price on shares of Kroger in a report on Thursday, September 18th. Ten investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.50.

Kroger Stock Performance

NYSE:KR opened at $63.57 on Monday. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.95 and a quick ratio of 0.54. The firm has a market capitalization of $42.13 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.92 and a beta of 0.57. The company’s 50-day moving average is $67.27 and its two-hundred day moving average is $69.11. The Kroger Co. has a 1-year low of $55.69 and a 1-year high of $74.90.

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

Kroger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, November 14th. Kroger’s payout ratio is 35.53%.

Kroger Company 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.