Bank of New York Mellon Corp Has $272,020,000 Position in Kroger Co. (KR)
Bank of New York Mellon Corp cut its stake in shares of Kroger Co. (NYSE:KR) by 0.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 9,165,046 shares of the company’s stock after selling 49,727 shares during the period. Bank of New York Mellon Corp’s holdings in Kroger were worth $272,020,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in KR. Victory Capital Management Inc. raised its position in shares of Kroger by 44.8% in the third quarter. Victory Capital Management Inc. now owns 49,475 shares of the company’s stock valued at $1,469,000 after buying an additional 15,299 shares during the last quarter. First National Trust Co. raised its stake in shares of Kroger by 14.3% in the third quarter. First National Trust Co. now owns 70,189 shares of the company’s stock worth $2,084,000 after buying an additional 8,801 shares in the last quarter. Pettyjohn Wood & White Inc. raised its stake in shares of Kroger by 29.7% in the third quarter. Pettyjohn Wood & White Inc. now owns 53,585 shares of the company’s stock worth $1,590,000 after buying an additional 12,255 shares in the last quarter. Honeywell International Inc. purchased a new stake in shares of Kroger during the third quarter worth $21,488,000. Finally, Neuberger Berman Group LLC raised its stake in shares of Kroger by 3,504.0% in the third quarter. Neuberger Berman Group LLC now owns 3,651,805 shares of the company’s stock worth $108,386,000 after buying an additional 3,550,479 shares in the last quarter. 75.51% of the stock is owned by hedge funds and other institutional investors.
Kroger Co. (NYSE:KR) opened at 33.10 on Wednesday. The firm’s 50-day moving average price is $31.92 and its 200 day moving average price is $33.33. Kroger Co. has a one year low of $28.71 and a one year high of $42.75. The company has a market capitalization of $31.25 billion, a price-to-earnings ratio of 15.69 and a beta of 0.74.
Kroger (NYSE:KR) last posted its quarterly earnings data on Friday, September 9th. The company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The business had revenue of $26.60 billion for the quarter. Kroger had a return on equity of 32.52% and a net margin of 1.82%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 earnings per share. On average, equities research analysts expect that Kroger Co. will post $2.13 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, November 10th. This represents a $0.48 annualized dividend and a dividend yield of 1.45%. Kroger’s payout ratio is 22.86%.
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KR has been the topic of a number of analyst reports. Piper Jaffray Cos. reiterated an “underweight” rating and issued a $31.00 price target on shares of Kroger in a research report on Thursday, September 8th. RBC Capital Markets reiterated a “sector perform” rating and issued a $37.00 price target on shares of Kroger in a research report on Friday, September 16th. Cleveland Research lowered Kroger from a “buy” rating to a “hold” rating in a research report on Tuesday, August 23rd. Vetr upgraded Kroger from a “sell” rating to a “hold” rating and set a $32.92 price target on the stock in a research report on Monday, November 21st. Finally, Citigroup Inc. reduced their price target on Kroger from $44.00 to $43.00 and set a “buy” rating on the stock in a research report on Monday, August 29th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $38.25.
In other news, insider Kevin M. Dougherty sold 31,000 shares of Kroger stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $31.05, for a total transaction of $962,550.00. Following the completion of the transaction, 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. Insiders own 0.85% of the company’s stock.
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.
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