MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in The Kroger Co. (NYSE:KR – Get Rating) by 12.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 99,372 shares of the company's stock after acquiring an additional 10,610 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Kroger were worth $4,703,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the business. Key Financial Inc increased its stake in shares of Kroger by 81.6% in the first quarter. Key Financial Inc now owns 445 shares of the company's stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Hoey Investments Inc. purchased a new position in shares of Kroger during the first quarter valued at approximately $29,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Kroger during the first quarter valued at approximately $29,000. JFS Wealth Advisors LLC increased its position in shares of Kroger by 179.5% during the first quarter. JFS Wealth Advisors LLC now owns 531 shares of the company's stock valued at $30,000 after acquiring an additional 341 shares in the last quarter. Finally, Okabena Investment Services Inc. bought a new stake in Kroger in the 4th quarter worth approximately $34,000. 79.05% of the stock is currently owned by institutional investors.
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Wall Street Analyst Weigh In
A number of equities analysts have recently commented on KR shares. Guggenheim reiterated a "buy" rating and issued a $57.00 target price on shares of Kroger in a report on Friday, June 17th. MKM Partners boosted their price target on shares of Kroger from $48.00 to $55.00 in a report on Tuesday, June 21st. Credit Suisse Group dropped their price target on shares of Kroger from $60.00 to $55.00 and set a "neutral" rating for the company in a research note on Thursday, September 8th. Oppenheimer cut their price target on shares of Kroger to $51.00 in a report on Tuesday, September 6th. Finally, Morgan Stanley lifted their price objective on Kroger from $41.00 to $43.00 and gave the company an "underweight" rating in a research report on Monday, September 12th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $52.89.
Kroger Stock Down 0.7 %
Shares of KR stock traded down $0.33 during midday trading on Tuesday, reaching $44.67. 138,780 shares of the stock were exchanged, compared to its average volume of 6,459,872. The firm has a market cap of $31.98 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 0.95 and a beta of 0.47. The Kroger Co. has a 1 year low of $38.22 and a 1 year high of $62.78. The company has a current ratio of 0.72, a quick ratio of 0.28 and a debt-to-equity ratio of 1.30. The company's 50 day moving average is $47.70 and its two-hundred day moving average is $51.16.
Kroger (NYSE:KR – Get Rating) last posted its quarterly earnings results on Friday, September 9th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.06. Kroger had a net margin of 1.70% and a return on equity of 31.72%. The firm had revenue of $34.64 billion for the quarter, compared to the consensus estimate of $34.44 billion. During the same period last year, the firm posted $0.80 earnings per share. The company's revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities research analysts predict that The Kroger Co. will post 4.06 EPS for the current year.
Kroger Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Monday, November 14th. Kroger's dividend payout ratio is currently 31.61%.
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.
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