Oppenheimer & Co. Inc. Decreases Stake in Kroger Co (NYSE:KR)
Oppenheimer & Co. Inc. reduced its position in Kroger Co (NYSE:KR) by 11.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,425 shares of the company’s stock after selling 2,586 shares during the period. Oppenheimer & Co. Inc.’s holdings in Kroger were worth $527,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. TRUE Private Wealth Advisors purchased a new stake in Kroger during the second quarter valued at approximately $26,000. Sageworth Trust Co bought a new position in shares of Kroger during the second quarter valued at approximately $33,000. Capital Investment Advisory Services LLC grew its stake in shares of Kroger by 57.2% during the second quarter. Capital Investment Advisory Services LLC now owns 1,787 shares of the company’s stock valued at $37,000 after buying an additional 650 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of Kroger during the third quarter valued at approximately $40,000. Finally, Enterprise Financial Services Corp grew its stake in shares of Kroger by 151.6% during the second quarter. Enterprise Financial Services Corp now owns 1,935 shares of the company’s stock valued at $41,000 after buying an additional 1,166 shares during the last quarter. Institutional investors own 80.35% of the company’s stock.
Shares of NYSE:KR opened at $27.02 on Friday. Kroger Co has a 52-week low of $20.70 and a 52-week high of $31.98. The stock has a market cap of $22.31 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 2.00 and a beta of 0.56. The business’s 50 day moving average is $25.12 and its 200 day moving average is $23.89. The company has a quick ratio of 0.27, a current ratio of 0.76 and a debt-to-equity ratio of 2.15.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.64 annualized dividend and a yield of 2.37%. Kroger’s dividend payout ratio (DPR) is currently 30.33%.
A number of research analysts have recently commented on KR shares. Telsey Advisory Group upped their target price on Kroger from $27.00 to $29.00 and gave the company a “market perform” rating in a research note on Wednesday. Pivotal Research reaffirmed a “buy” rating and set a $30.00 target price (up previously from $26.00) on shares of Kroger in a research note on Wednesday, September 11th. Guggenheim set a $26.00 target price on Kroger and gave the company a “buy” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. upped their target price on Kroger from $24.00 to $27.00 in a research note on Thursday, October 24th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $26.00 target price (up previously from $24.00) on shares of Kroger in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $27.37.
In related news, COO Michael Joseph Donnelly sold 1,574 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $26.46, for a total value of $41,648.04. Following the transaction, the chief operating officer now owns 324,209 shares of the company’s stock, valued at $8,578,570.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Carin L. Fike sold 4,652 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $26.00, for a total value of $120,952.00. Following the completion of the transaction, the vice president now directly owns 33,796 shares in the company, valued at approximately $878,696. The disclosure for this sale can be found here. In the last three months, insiders sold 134,323 shares of company stock worth $3,537,389. 1.34% of the stock is owned by insiders.
The Kroger Co operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.
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