Secure Asset Management LLC lowered its stake in shares of The Kroger Co. (NYSE:KR – Get Rating) by 1.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,165 shares of the company's stock after selling 424 shares during the quarter. Kroger comprises approximately 0.8% of Secure Asset Management LLC's investment portfolio, making the stock its 20th largest holding. Secure Asset Management LLC's holdings in Kroger were worth $1,522,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Key Financial Inc increased its holdings in Kroger by 81.6% in the 1st quarter. Key Financial Inc now owns 445 shares of the company's stock worth $26,000 after buying an additional 200 shares during the period. Hoey Investments Inc. acquired a new position in Kroger in the 1st quarter worth approximately $29,000. Newbridge Financial Services Group Inc. acquired a new position in Kroger in the 1st quarter worth approximately $29,000. JFS Wealth Advisors LLC increased its holdings in Kroger by 179.5% in the 1st quarter. JFS Wealth Advisors LLC now owns 531 shares of the company's stock worth $30,000 after buying an additional 341 shares during the period. Finally, Okabena Investment Services Inc. acquired a new position in Kroger in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 79.05% of the company's stock.
Get Kroger alerts:Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on KR. Credit Suisse Group dropped their price objective on shares of Kroger from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Thursday, September 8th. MKM Partners raised their price objective on shares of Kroger from $48.00 to $55.00 in a research note on Tuesday, June 21st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Kroger from $53.00 to $54.00 and gave the stock a "hold" rating in a research note on Tuesday, September 13th. Guggenheim reaffirmed a "buy" rating and set a $57.00 price objective on shares of Kroger in a research note on Friday, June 17th. Finally, StockNews.com upgraded Kroger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 20th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $52.89.
Kroger Price Performance
KR stock traded down $0.73 during midday trading on Thursday, reaching $44.72. The stock had a trading volume of 104,845 shares, compared to its average volume of 6,658,469. The company's fifty day simple moving average is $47.60 and its 200 day simple moving average is $51.07. 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 has a market cap of $32.01 billion, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 0.93 and a beta of 0.47. The Kroger Co. has a 52-week low of $38.22 and a 52-week high of $62.78.Kroger (NYSE:KR – Get Rating) last issued its earnings results on Friday, September 9th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.06. Kroger had a return on equity of 31.72% and a net margin of 1.70%. The business had revenue of $34.64 billion during the quarter, compared to the consensus estimate of $34.44 billion. During the same period last year, the company earned $0.80 EPS. The company's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, sell-side analysts predict that The Kroger Co. will post 4.06 earnings per share for the current fiscal year.
Kroger Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Monday, November 14th. Kroger's dividend payout ratio (DPR) is presently 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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