Investors Sell Kroger Co. (KR) on Strength (KR)
Investors sold shares of Kroger Co. (NYSE:KR) on strength during trading on Wednesday. $29.05 million flowed into the stock on the tick-up and $48.46 million flowed out of the stock on the tick-down, for a money net flow of $19.41 million out of the stock. Of all companies tracked, Kroger had the 0th highest net out-flow for the day. Kroger traded up $0.09 for the day and closed at $37.48
A number of research analysts have weighed in on the stock. Morgan Stanley reaffirmed a “buy” rating on shares of Kroger in a research report on Wednesday, April 6th. JPMorgan Chase & Co. reduced their price target on shares of Kroger from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, April 8th. Vetr cut shares of Kroger from a “strong-buy” rating to a “buy” rating and set a $42.22 price target on the stock. in a research report on Wednesday, April 13th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $39.00 price target on shares of Kroger in a research report on Monday, June 13th. Finally, Citigroup Inc. reaffirmed a “buy” rating on shares of Kroger in a research report on Wednesday, April 20th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $41.28.
The stock has a market capitalization of $35.57 billion and a price-to-earnings ratio of 17.54. The company has a 50-day moving average of $36.17 and a 200-day moving average of $37.42.
Kroger (NYSE:KR) last issued its earnings results on Thursday, June 16th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.01. During the same quarter in the prior year, the business posted $0.63 EPS. The company had revenue of $34.61 billion for the quarter. The company’s revenue was up 4.7% on a year-over-year basis. Equities research analysts expect that Kroger Co. will post $2.22 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Monday, August 15th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Thursday, August 11th. This is an increase from Kroger’s previous quarterly dividend of $0.11.
In other news, VP Oflen Mary Elizabeth Van sold 12,000 shares of Kroger stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $37.85, for a total transaction of $454,200.00. Following the transaction, the vice president now owns 82,349 shares in the company, valued at approximately $3,116,909.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christopher Conlon sold 15,000 shares of Kroger stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $35.43, for a total value of $531,450.00. Following the transaction, the executive vice president now owns 15,000 shares in the company, valued at approximately $531,450. The disclosure for this sale can be found here.
Other institutional investors have added to or reduced their stakes in the company. Pittenger & Anderson Inc. boosted its position in Kroger by 8,333.3% in the fourth quarter. Pittenger & Anderson Inc. now owns 25,300 shares of the company’s stock valued at $1,058,000 after buying an additional 25,000 shares during the period. Wellington Shields Capital Management LLC purchased a new stake in shares of Kroger during the fourth quarter worth about $1,117,000. WBI Investments Inc. raised its stake in shares of Kroger by 0.9% in the fourth quarter. WBI Investments Inc. now owns 29,435 shares of the company’s stock worth $1,231,000 after buying an additional 267 shares in the last quarter. EQIS Capital Management raised its stake in shares of Kroger by 220.2% in the fourth quarter. EQIS Capital Management now owns 36,853 shares of the company’s stock worth $1,542,000 after buying an additional 25,343 shares in the last quarter. Finally, Profund Advisors LLC raised its stake in shares of Kroger by 12.3% in the fourth quarter. Profund Advisors LLC now owns 38,219 shares of the company’s stock worth $1,599,000 after buying an additional 4,182 shares in the last quarter.
The Kroger Co (Kroger) operates retail food and drug stores, multi-department stores, jewelry stores, and convenience stores throughout the United States. The Company also manufactures and processes some of the food for sale in its supermarkets. The Company operated, either directly or through its subsidiaries, approximately 2,625 supermarkets and multi-department stores, approximately 1,330 of which had fuel centers.
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