Legal & General Group Plc Buys 292,701 Shares of Kroger Co (KR)
Legal & General Group Plc raised its stake in shares of Kroger Co (NYSE:KR) by 6.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,126,020 shares of the company’s stock after buying an additional 292,701 shares during the period. Legal & General Group Plc owned 0.58% of Kroger worth $102,840,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of KR. Reliance Trust Co. of Delaware bought a new position in Kroger during the second quarter valued at about $237,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Kroger by 115.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 9,784 shares of the company’s stock worth $228,000 after purchasing an additional 5,243 shares during the period. NGAM Advisors L.P. increased its stake in shares of Kroger by 150.9% in the second quarter. NGAM Advisors L.P. now owns 241,992 shares of the company’s stock worth $5,643,000 after purchasing an additional 145,529 shares during the period. IBM Retirement Fund increased its stake in shares of Kroger by 110.1% in the second quarter. IBM Retirement Fund now owns 22,294 shares of the company’s stock worth $581,000 after purchasing an additional 11,684 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in shares of Kroger by 33.7% in the second quarter. Great West Life Assurance Co. Can now owns 1,504,615 shares of the company’s stock worth $35,053,000 after purchasing an additional 378,855 shares during the period. Institutional investors own 79.16% of the company’s stock.
Shares of Kroger Co (NYSE KR) traded down $0.19 on Friday, reaching $25.67. The company had a trading volume of 20,546,387 shares, compared to its average volume of 12,347,382. Kroger Co has a 1 year low of $19.69 and a 1 year high of $36.44. The company has a quick ratio of 0.33, a current ratio of 0.87 and a debt-to-equity ratio of 2.13. The company has a market capitalization of $22,830.00, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 2.95 and a beta of 0.83.
Kroger (NYSE:KR) last issued its quarterly earnings results on Thursday, November 30th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.04. Kroger had a return on equity of 28.04% and a net margin of 1.32%. The firm had revenue of $27.75 billion for the quarter, compared to analyst estimates of $27.48 billion. During the same period in the previous year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. equities research analysts expect that Kroger Co will post 1.99 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be paid a dividend of $0.125 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.50 annualized dividend and a yield of 1.95%. Kroger’s dividend payout ratio is 30.30%.
A number of equities analysts have recently commented on the company. Jefferies Group dropped their price objective on Kroger from $24.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, September 11th. Telsey Advisory Group lifted their price objective on Kroger from $24.00 to $28.00 and gave the stock a “market perform” rating in a research note on Friday. BMO Capital Markets set a $29.00 price objective on Kroger and gave the stock a “hold” rating in a research note on Friday. Vetr upgraded Kroger from a “buy” rating to a “strong-buy” rating and set a $27.01 price objective on the stock in a research note on Wednesday, August 9th. Finally, UBS lowered Kroger from an “outperform” rating to a “market perform” rating in a research note on Friday, September 8th. Nineteen research analysts have rated the stock with a hold rating, nine have issued 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 $29.44.
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Kroger 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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