2,604,291 Shares in Kroger Co. (KR) Acquired by WestEnd Advisors LLC
WestEnd Advisors LLC bought a new position in Kroger Co. (NYSE:KR) during the second quarter, according to its most recent disclosure with the SEC. The fund bought 2,604,291 shares of the company’s stock, valued at approximately $95,812,000. Kroger makes up about 5.1% of WestEnd Advisors LLC’s holdings, making the stock its 3rd largest position.
Several other large investors also recently added to or reduced their stakes in KR. CAM Group Holding A S increased its position in shares of Kroger by 40.9% in the second quarter. CAM Group Holding A S now owns 53,700 shares of the company’s stock worth $1,976,000 after buying an additional 15,600 shares during the last quarter. Bristol Gate Capital Partners Inc. increased its position in shares of Kroger by 10.1% in the second quarter. Bristol Gate Capital Partners Inc. now owns 741,903 shares of the company’s stock worth $27,295,000 after buying an additional 68,144 shares during the last quarter. Sigma Investment Counselors Inc. increased its position in shares of Kroger by 10.0% in the second quarter. Sigma Investment Counselors Inc. now owns 6,226 shares of the company’s stock worth $229,000 after buying an additional 565 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Kroger by 1.3% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 71,227 shares of the company’s stock worth $2,620,000 after buying an additional 923 shares during the last quarter. Finally, Hedeker Wealth LLC acquired a new position in shares of Kroger during the second quarter worth about $745,000. 80.17% of the stock is currently owned by hedge funds and other institutional investors.
Kroger Co. (NYSE:KR) traded down 0.62% during midday trading on Tuesday, hitting $30.64. The stock had a trading volume of 9,925,159 shares. Kroger Co. has a 12-month low of $28.71 and a 12-month high of $42.75. The firm has a 50-day moving average of $30.70 and a 200-day moving average of $34.25. The company has a market cap of $28.93 billion, a PE ratio of 14.53 and a beta of 0.70.
Kroger (NYSE:KR) last released its quarterly earnings results on Friday, September 9th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. The company earned $26.60 billion during the quarter. Kroger had a return on equity of 32.52% and a net margin of 1.82%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 EPS. Equities research analysts forecast that Kroger Co. will post $2.14 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.48 annualized dividend and a yield of 1.56%. Kroger’s dividend payout ratio (DPR) is currently 22.86%.
A number of research analysts have recently issued reports on KR shares. BMO Capital Markets downgraded Kroger from an “outperform” rating to a “market perform” rating and upped their price target for the company from $34.01 to $35.00 in a report on Tuesday, August 2nd. Royal Bank Of Canada lowered their price target on Kroger from $39.00 to $37.00 and set a “sector perform” rating on the stock in a report on Wednesday, September 7th. Zacks Investment Research downgraded Kroger from a “hold” rating to a “sell” rating in a report on Tuesday, August 30th. Citigroup Inc. lowered their price target on Kroger from $44.00 to $43.00 and set a “buy” rating on the stock in a report on Monday, August 29th. Finally, Vetr downgraded Kroger from a “strong-buy” rating to a “buy” rating and set a $33.25 price target on the stock. in a report on Tuesday, October 11th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the stock. Kroger has an average rating of “Hold” and an average target price of $38.66.
In other news, insider Kevin M. Dougherty sold 31,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $31.05, for a total value of $962,550.00. Following the completion of the sale, the insider now directly owns 130,857 shares in the company, valued at $4,063,109.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.85% of the company’s stock.
Kroger Company Profile
The Kroger Co (Kroger) operates retail food and drug stores, multi-department stores, jewelry stores and convenience stores across the United States. The Company also manufactures and processes food for sale in its supermarkets. It operates through retail operations segment. The Company operates, either directly or through its subsidiaries, approximately 2,778 retail food stores under a range of local banner names, approximately 1,387 of which have fuel centers.
Want to see what other hedge funds are holding KR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kroger Co. (NYSE:KR).
Receive News & Ratings for Kroger Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kroger Co. and related companies with MarketBeat.com's FREE daily email newsletter.