Traders Buy Kroger Co. (KR) on Weakness
Investors bought shares of Kroger Co. (NYSE:KR) on weakness during trading on Monday. $87.29 million flowed into the stock on the tick-up and $53.94 million flowed out of the stock on the tick-down, for a money net flow of $33.35 million into the stock. Of all companies tracked, Kroger had the 13th highest net in-flow for the day. Kroger traded down ($0.31) for the day and closed at $32.31
KR has been the topic of several recent research reports. Credit Suisse Group AG decreased their target price on shares of Kroger from $36.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, May 12th. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $42.00 target price on shares of Kroger in a research report on Friday, July 15th. Wolfe Research cut shares of Kroger from a “peer perform” rating to an “underperform” rating in a research report on Thursday, July 28th. Piper Jaffray Cos. initiated coverage on shares of Kroger in a report on Monday, May 9th. They set an “underweight” rating and a $29.00 price target on the stock. Finally, Vetr upgraded shares of Kroger from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 19th. Three equities research 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’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $40.92.
The firm has a market cap of $30.66 billion and a PE ratio of 15.12. The firm has a 50 day moving average price of $35.62 and a 200-day moving average price of $36.71.
Kroger (NYSE:KR) last announced its quarterly earnings data on Thursday, June 16th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The business earned $34.61 billion during the quarter. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 EPS. Equities research analysts forecast that Kroger Co. will post $2.22 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 15th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Thursday, August 11th. This is a boost from Kroger’s previous quarterly dividend of $0.11.
In related news, VP Oflen Mary Elizabeth Van sold 12,000 shares of Kroger stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $37.85, for a total value of $454,200.00. Following the completion of the transaction, the vice president now owns 82,349 shares in the company, valued at $3,116,909.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Several hedge funds and institutional investors have made changes to their positions in the stock. Pittenger & Anderson Inc. boosted its position in shares of Kroger by 8,333.3% in the fourth quarter. Pittenger & Anderson Inc. now owns 25,300 shares of the company’s stock worth $1,058,000 after buying an additional 25,000 shares during the period. WBI Investments Inc. boosted its position in Kroger by 0.9% in the fourth quarter. WBI Investments Inc. now owns 29,435 shares of the company’s stock valued at $1,231,000 after buying an additional 267 shares during the period. I.G. Investment Management LTD. boosted its position in Kroger by 10.3% in the fourth quarter. I.G. Investment Management LTD. now owns 74,334 shares of the company’s stock valued at $3,109,000 after buying an additional 6,922 shares during the period. Schroder Investment Management Group boosted its position in Kroger by 109.3% in the fourth quarter. Schroder Investment Management Group now owns 83,284 shares of the company’s stock valued at $3,484,000 after buying an additional 43,484 shares during the period. Finally, Buckingham Capital Management Inc. boosted its position in Kroger by 89.7% in the third quarter. Buckingham Capital Management Inc. now owns 105,574 shares of the company’s stock valued at $3,808,000 after buying an additional 49,927 shares during the period.
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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