Investors Buy Shares of Kroger Co. (KR) on Weakness
Traders bought shares of Kroger Co. (NYSE:KR) on weakness during trading hours on Tuesday. $90.44 million flowed into the stock on the tick-up and $58.36 million flowed out of the stock on the tick-down, for a money net flow of $32.08 million into the stock. Of all equities tracked, Kroger had the 12th highest net in-flow for the day. Kroger traded down ($0.63) for the day and closed at $32.10
A number of analysts recently commented on KR shares. Deutsche Bank AG dropped their price objective on Kroger from $48.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, June 17th. Zacks Investment Research raised Kroger from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Wednesday, May 4th. Citigroup Inc. reissued a “buy” rating on shares of Kroger in a research note on Wednesday, April 20th. Oppenheimer Holdings Inc. reissued a “buy” rating and issued a $42.00 price target on shares of Kroger in a research note on Monday, June 6th. Finally, Hilliard Lyons raised Kroger from a “neutral” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Thursday, June 23rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Kroger presently has an average rating of “Buy” and an average price target of $40.92.
The stock’s 50-day moving average price is $35.18 and its 200-day moving average price is $36.49. The company has a market capitalization of $30.46 billion and a price-to-earnings ratio of 15.02.
Kroger (NYSE:KR) last released its quarterly earnings results on Thursday, June 16th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. During the same period in the previous year, the business posted $0.63 EPS. The company had revenue of $34.61 billion for the quarter. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts forecast that Kroger Co. will post $2.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 15th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, August 11th. This represents a $0.48 annualized dividend and a dividend yield of 1.50%. This is a positive change from Kroger’s previous quarterly dividend of $0.11.
In other news, VP Oflen Mary Elizabeth Van sold 12,000 shares of the company’s 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 completion of the sale, the vice president now owns 82,349 shares in the company, valued at approximately $3,116,909.65. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
A number of hedge funds have made changes to their positions in KR. Calvert Investment Management Inc. increased its stake in shares of Kroger by 38.7% in the fourth quarter. Calvert Investment Management Inc. now owns 67,592 shares of the company’s stock valued at $2,827,000 after buying an additional 18,865 shares during the last quarter. State of Tennessee Treasury Department increased its stake in shares of Kroger by 12.0% in the fourth quarter. State of Tennessee Treasury Department now owns 1,302,477 shares of the company’s stock valued at $54,482,000 after buying an additional 139,951 shares during the last quarter. Bridgewater Associates LP acquired a new stake in shares of Kroger during the fourth quarter valued at $1,309,000. Westfield Capital Management Co. LP acquired a new stake in shares of Kroger during the fourth quarter valued at $115,147,000. Finally, KBC Group NV increased its stake in shares of Kroger by 15.4% in the fourth quarter. KBC Group NV now owns 295,751 shares of the company’s stock valued at $12,372,000 after buying an additional 39,403 shares during 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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