Kroger Company (The) (KR) Shares Sold by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. cut its position in shares of Kroger Company (The) (NYSE:KR) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 486,046 shares of the company’s stock after selling 13,900 shares during the period. Pictet Asset Management Ltd.’s holdings in Kroger Company (The) were worth $14,475,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Bank of Nova Scotia increased its stake in Kroger Company (The) by 906.4% in the first quarter. Bank of Nova Scotia now owns 211,840 shares of the company’s stock worth $6,247,000 after buying an additional 190,790 shares in the last quarter. Selway Asset Management acquired a new stake in Kroger Company (The) during the first quarter worth approximately $492,000. Holderness Investments Co. acquired a new stake in Kroger Company (The) during the first quarter worth approximately $277,000. Hosking Partners LLP increased its stake in Kroger Company (The) by 10.2% in the first quarter. Hosking Partners LLP now owns 528,328 shares of the company’s stock worth $15,580,000 after buying an additional 48,785 shares in the last quarter. Finally, Whittier Trust Co. increased its stake in Kroger Company (The) by 11.4% in the first quarter. Whittier Trust Co. now owns 94,145 shares of the company’s stock worth $2,775,000 after buying an additional 9,646 shares in the last quarter. Institutional investors own 77.44% of the company’s stock.
Kroger Company (NYSE KR) opened at 23.49 on Friday. The stock’s 50 day moving average price is $23.43 and its 200 day moving average price is $28.42. The firm has a market capitalization of $21.08 billion, a PE ratio of 14.14 and a beta of 0.76. Kroger Company has a 52-week low of $20.46 and a 52-week high of $36.44.
Kroger Company (The) (NYSE:KR) last released its quarterly earnings data on Thursday, June 15th. The company reported $0.58 EPS for the quarter, meeting the consensus estimate of $0.58. Kroger Company (The) had a return on equity of 29.10% and a net margin of 1.35%. The company had revenue of $36.29 billion for the quarter, compared to analyst estimates of $35.69 billion. During the same period last year, the company posted $0.70 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. Analysts expect that Kroger Company will post $1.98 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be given a $0.125 dividend. The ex-dividend date of this dividend is Friday, August 11th. This is a positive change from Kroger Company (The)’s previous quarterly dividend of $0.12. This represents a $0.50 annualized dividend and a yield of 2.13%. Kroger Company (The)’s dividend payout ratio (DPR) is 28.92%.
Kroger Company (The) announced that its Board of Directors has authorized a stock repurchase plan on Thursday, June 22nd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 4.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
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KR has been the topic of a number of research analyst reports. Deutsche Bank AG set a $26.00 target price on Kroger Company (The) and gave the company a “buy” rating in a research report on Monday, June 19th. ValuEngine downgraded Kroger Company (The) from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research downgraded Kroger Company (The) from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Morgan Stanley restated an “equal weight” rating and issued a $30.00 target price (down previously from $40.00) on shares of Kroger Company (The) in a research report on Friday, June 16th. Finally, Royal Bank Of Canada set a $34.00 target price on Kroger Company (The) and gave the company a “buy” rating in a research report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $30.09.
In other news, Director Susan M. Phillips sold 6,200 shares of the firm’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $21.17, for a total transaction of $131,254.00. Following the completion of the sale, the director now directly owns 124,105 shares in the company, valued at $2,627,302.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider J Michael Schlotman bought 2,000 shares of the stock in a transaction dated Monday, June 26th. The shares were acquired at an average price of $22.73 per share, with a total value of $45,460.00. The disclosure for this purchase can be found here. Company insiders own 0.85% of the company’s stock.
Kroger Company (The) Company Profile
The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.
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