Capital World Investors raised its position in The Kroger Co. (NYSE:KR – Get Rating) by 8.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,022,070 shares of the company's stock after buying an additional 1,355,600 shares during the period. Capital World Investors owned about 2.36% of Kroger worth $976,556,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Wealthfront Advisers LLC boosted its position in Kroger by 21.3% during the first quarter. Wealthfront Advisers LLC now owns 132,641 shares of the company's stock worth $7,609,000 after purchasing an additional 23,326 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Kroger by 103.4% in the 1st quarter. Advisors Asset Management Inc. now owns 21,365 shares of the company's stock valued at $1,226,000 after acquiring an additional 10,861 shares during the period. Mirabella Financial Services LLP purchased a new stake in Kroger in the 1st quarter worth $606,000. Beacon Pointe Advisors LLC raised its position in Kroger by 338.5% during the first quarter. Beacon Pointe Advisors LLC now owns 35,304 shares of the company's stock worth $2,025,000 after acquiring an additional 27,252 shares during the period. Finally, Quantbot Technologies LP purchased a new position in Kroger during the first quarter valued at $4,821,000. Institutional investors and hedge funds own 79.05% of the company's stock.
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Kroger Stock Performance
Shares of Kroger stock opened at $48.94 on Thursday. The firm has a market cap of $35.02 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.16 and a beta of 0.47. The company has a quick ratio of 0.28, a current ratio of 0.72 and a debt-to-equity ratio of 1.30. The Kroger Co. has a 52 week low of $38.22 and a 52 week high of $62.78. The business's fifty day simple moving average is $47.93 and its 200-day simple moving average is $51.65.
Kroger (NYSE:KR – Get Rating) last posted its earnings results on Friday, September 9th. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.07. The company had revenue of $34.64 billion for the quarter, compared to analysts' expectations of $34.44 billion. Kroger had a net
margin of 1.70% and a return on equity of 31.72%. Kroger's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.80 earnings per share. Equities analysts forecast that The Kroger Co. will post 3.97 earnings per share for the current year.
Kroger Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.13%. This is a boost from Kroger's previous quarterly dividend of $0.21. The ex-dividend date was Friday, August 12th. Kroger's dividend payout ratio is 31.61%.
Analysts Set New Price Targets
Several research firms recently weighed in on KR. StockNews.com downgraded shares of Kroger from a "strong-buy" rating to a "hold" rating in a research report on Monday. Deutsche Bank Aktiengesellschaft lifted their price target on Kroger from $53.00 to $54.00 and gave the stock a "hold" rating in a research note on Tuesday. Evercore ISI increased their price objective on Kroger from $51.00 to $54.00 and gave the company an "in-line" rating in a research note on Monday. Credit Suisse Group dropped their target price on shares of Kroger from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Thursday, September 8th. Finally, Oppenheimer decreased their price target on shares of Kroger to $51.00 in a research note on Tuesday, September 6th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $52.89.
Kroger Profile
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The Kroger Co operates as a 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.
Further Reading
- Get a free copy of the StockNews.com research report on Kroger (KR)
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