AdvisorNet Financial Inc boosted its holdings in Kroger Co (NYSE:KR) by 47.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,838 shares of the company’s stock after purchasing an additional 2,200 shares during the quarter. AdvisorNet Financial Inc’s holdings in Kroger were worth $231,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of KR. Kore Private Wealth LLC increased its holdings in Kroger by 119.9% in the 2nd quarter. Kore Private Wealth LLC now owns 741 shares of the company’s stock valued at $25,000 after buying an additional 404 shares during the period. Watson Rebecca purchased a new stake in Kroger during the second quarter valued at about $27,000. Atlas Private Wealth Management lifted its holdings in Kroger by 685.7% during the first quarter. Atlas Private Wealth Management now owns 1,100 shares of the company’s stock valued at $33,000 after purchasing an additional 960 shares during the last quarter. Enterprise Financial Services Corp lifted its holdings in Kroger by 50.0% during the first quarter. Enterprise Financial Services Corp now owns 1,158 shares of the company’s stock valued at $35,000 after purchasing an additional 386 shares during the last quarter. Finally, Flagship Harbor Advisors LLC lifted its holdings in Kroger by 130.3% during the second quarter. Flagship Harbor Advisors LLC now owns 1,149 shares of the company’s stock valued at $38,000 after purchasing an additional 650 shares during the last quarter. Institutional investors and hedge funds own 81.69% of the company’s stock.
Shares of NYSE KR opened at $33.21 on Friday. Kroger Co has a one year low of $23.71 and a one year high of $37.22. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.84 and a quick ratio of 0.41. The firm’s 50 day simple moving average is $35.11 and its two-hundred day simple moving average is $33.07. The stock has a market capitalization of $25.83 billion, a P/E ratio of 10.16, a PEG ratio of 1.92 and a beta of 0.31.
Kroger (NYSE:KR) last issued its quarterly earnings results on Friday, September 11th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.19. Kroger had a net margin of 2.03% and a return on equity of 26.31%. The business had revenue of $30.49 billion for the quarter, compared to analysts’ expectations of $30.03 billion. During the same period last year, the business earned $0.44 earnings per share. The business’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities analysts expect that Kroger Co will post 3.25 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Thursday, November 12th. Kroger’s payout ratio is currently 32.73%.
In other news, CEO W Rodney Mcmullen sold 85,381 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $31.97, for a total value of $2,729,630.57. Following the transaction, the chief executive officer now owns 3,097,481 shares in the company, valued at $99,026,467.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bobby S. Shackouls sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $36.00, for a total transaction of $360,000.00. Following the completion of the transaction, the director now owns 24,845 shares in the company, valued at approximately $894,420. The disclosure for this sale can be found here. Insiders have sold 327,517 shares of company stock worth $10,981,405 over the last quarter. Company insiders own 1.36% of the company’s stock.
Several research firms have commented on KR. MKM Partners began coverage on shares of Kroger in a report on Wednesday, July 29th. They set a “neutral” rating and a $40.00 price objective on the stock. BofA Securities downgraded shares of Kroger from a “buy” rating to a “neutral” rating and set a $40.00 price objective on the stock. in a report on Monday, September 14th. Bank of America downgraded shares of Kroger from a “buy” rating to a “neutral” rating and set a $40.00 price target on the stock. in a report on Monday, September 14th. Goldman Sachs Group began coverage on shares of Kroger in a report on Tuesday, July 21st. They issued a “neutral” rating and a $36.00 price target on the stock. Finally, ValuEngine downgraded shares of Kroger from a “sell” rating to a “strong sell” rating in a report on Tuesday. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $35.33.
Kroger Company Profile
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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