Cornerstone Wealth Management LLC reduced its position in shares of Kroger Co (NYSE:KR) by 90.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,204 shares of the company’s stock after selling 131,667 shares during the period. Cornerstone Wealth Management LLC’s holdings in Kroger were worth $700,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KR. Madison Investment Holdings Inc. raised its position in Kroger by 6.3% in the second quarter. Madison Investment Holdings Inc. now owns 29,726 shares of the company’s stock worth $846,000 after acquiring an additional 1,758 shares during the period. Pinnacle Associates Ltd. raised its position in Kroger by 4.6% in the second quarter. Pinnacle Associates Ltd. now owns 40,952 shares of the company’s stock worth $1,165,000 after acquiring an additional 1,800 shares during the period. TIAA FSB raised its position in Kroger by 9.7% in the second quarter. TIAA FSB now owns 20,549 shares of the company’s stock worth $585,000 after acquiring an additional 1,812 shares during the period. CIBC Asset Management Inc raised its position in Kroger by 2.0% in the second quarter. CIBC Asset Management Inc now owns 94,607 shares of the company’s stock worth $2,692,000 after acquiring an additional 1,837 shares during the period. Finally, First Fiduciary Investment Counsel Inc. raised its position in Kroger by 0.4% in the second quarter. First Fiduciary Investment Counsel Inc. now owns 448,830 shares of the company’s stock worth $12,769,000 after acquiring an additional 1,920 shares during the period. 79.38% of the stock is currently owned by institutional investors.
Several brokerages have commented on KR. Wells Fargo & Co lifted their price objective on shares of Kroger from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, September 10th. Credit Suisse Group set a $33.00 price objective on shares of Kroger and gave the stock a “hold” rating in a research report on Friday, September 7th. Stephens set a $29.00 price objective on shares of Kroger and gave the stock a “hold” rating in a research report on Friday, September 7th. Zacks Investment Research raised shares of Kroger from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Tuesday, August 21st. Finally, Telsey Advisory Group lifted their price objective on shares of Kroger from $29.00 to $31.00 and gave the stock a “market perform” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $30.40.
KR opened at $30.17 on Friday. The stock has a market capitalization of $24.06 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 2.34 and a beta of 0.77. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.73 and a quick ratio of 0.26. Kroger Co has a twelve month low of $21.15 and a twelve month high of $32.74.
Kroger (NYSE:KR) last posted its earnings results on Thursday, September 13th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.03. The firm had revenue of $27.87 billion during the quarter, compared to the consensus estimate of $27.95 billion. Kroger had a net margin of 3.05% and a return on equity of 28.05%. The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company earned $0.39 earnings per share. On average, equities research analysts anticipate that Kroger Co will post 2.13 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Thursday, November 15th will be paid a $0.14 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $0.56 annualized dividend and a dividend yield of 1.86%. Kroger’s payout ratio is 27.45%.
The Kroger Co, together with its subsidiaries, operates as a retailer in the United States. It also manufactures and processes food products for sale in its supermarkets. The company operates supermarkets, multi-department stores, jewelry stores, and convenience stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; multi-department stores provide general merchandise items, such as apparel, home fashion and furnishings, outdoor living, electronics, automotive products, toys, and fine jewelry; and price impact warehouse stores offer grocery, and health and beauty care items, as well as meat, dairy, baked goods, and fresh produce items.
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