The Kroger Co. (NYSE:KR) Short Interest Up 16.8% in March

The Kroger Co. (NYSE:KR) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 15,610,000 shares, a growth of 16.8% from the March 15th total of 13,370,000 shares. Approximately 2.2% of the company’s stock are sold short. Based on an average daily trading volume, of 5,040,000 shares, the short-interest ratio is presently 3.1 days.

Kroger Stock Performance

Shares of Kroger stock traded up $0.19 during trading hours on Tuesday, reaching $55.55. 3,680,327 shares of the stock traded hands, compared to its average volume of 4,959,965. Kroger has a one year low of $42.10 and a one year high of $58.34. The firm has a market capitalization of $40.09 billion, a price-to-earnings ratio of 18.79, a P/E/G ratio of 2.57 and a beta of 0.48. The company has a quick ratio of 0.36, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The company has a 50 day moving average price of $52.43 and a 200 day moving average price of $47.56.

Kroger (NYSE:KR) last issued its quarterly earnings data on Thursday, March 7th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.21. The firm had revenue of $37.06 billion during the quarter, compared to the consensus estimate of $37.07 billion. Kroger had a net margin of 1.44% and a return on equity of 31.44%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 EPS. On average, equities research analysts expect that Kroger will post 4.43 earnings per share for the current fiscal year.

Kroger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Tuesday, May 14th. Kroger’s dividend payout ratio (DPR) is currently 39.19%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KR. Guggenheim increased their price target on shares of Kroger from $60.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Wells Fargo & Company upgraded Kroger from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $58.00 to $65.00 in a research note on Tuesday. Telsey Advisory Group boosted their price target on Kroger from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Evercore ISI dropped their price objective on Kroger from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, BNP Paribas reissued an “underperform” rating and issued a $48.00 target price on shares of Kroger in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $55.17.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. OFI Invest Asset Management bought a new position in shares of Kroger in the third quarter worth about $25,000. Creekmur Asset Management LLC bought a new position in Kroger in the 4th quarter worth approximately $26,000. Dagco Inc. purchased a new stake in Kroger during the 4th quarter valued at approximately $26,000. SouthState Corp raised its position in shares of Kroger by 334.3% during the fourth quarter. SouthState Corp now owns 595 shares of the company’s stock valued at $27,000 after buying an additional 458 shares during the last quarter. Finally, VisionPoint Advisory Group LLC lifted its holdings in shares of Kroger by 370.1% in the third quarter. VisionPoint Advisory Group LLC now owns 630 shares of the company’s stock worth $28,000 after buying an additional 496 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Kroger Company Profile

The Kroger Co operates as a food and drug retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. 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.