CIBC Asset Management Inc raised its position in shares of Kroger Company (The) (NYSE:KR) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,231 shares of the company’s stock after buying an additional 54 shares during the period. CIBC Asset Management Inc’s holdings in Kroger Company (The) were worth $2,174,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in KR. Bank of Nova Scotia raised its stake in shares of Kroger Company (The) by 906.4% in the first quarter. Bank of Nova Scotia now owns 211,840 shares of the company’s stock worth $6,247,000 after buying an additional 190,790 shares during the period. Selway Asset Management acquired a new stake in shares of Kroger Company (The) during the first quarter worth approximately $492,000. Holderness Investments Co. acquired a new stake in shares of Kroger Company (The) during the first quarter worth approximately $277,000. Hosking Partners LLP raised its stake in shares of Kroger Company (The) by 10.2% in the first quarter. Hosking Partners LLP now owns 528,328 shares of the company’s stock worth $15,580,000 after buying an additional 48,785 shares during the period. Finally, Whittier Trust Co. raised its stake in shares of Kroger Company (The) by 11.4% in the first quarter. Whittier Trust Co. now owns 94,145 shares of the company’s stock worth $2,775,000 after buying an additional 9,646 shares during the period. Institutional investors and hedge funds own 77.44% of the company’s stock.
Shares of Kroger Company (NYSE:KR) opened at 24.37 on Tuesday. The stock’s 50 day moving average price is $23.58 and its 200 day moving average price is $28.89. The company has a market capitalization of $21.87 billion, a PE ratio of 14.67 and a beta of 0.76. Kroger Company has a 12 month low of $20.46 and a 12 month high of $36.44.
Kroger Company (The) (NYSE:KR) last posted its quarterly earnings data on Thursday, June 15th. The company reported $0.58 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.58. Kroger Company (The) had a return on equity of 29.10% and a net margin of 1.35%. The firm had revenue of $36.29 billion for the quarter, compared to analysts’ expectations of $35.69 billion. During the same period in the previous year, the firm earned $0.70 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts forecast that Kroger Company will post $1.98 EPS for the current year.
Kroger Company (The) declared that its board has approved a share buyback program on Thursday, June 22nd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.125 per share. This is a boost from Kroger Company (The)’s previous quarterly dividend of $0.12. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, August 11th. Kroger Company (The)’s payout ratio is presently 28.92%.
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A number of equities analysts have issued reports on KR shares. Deutsche Bank AG set a $26.00 price objective on shares of Kroger Company (The) and gave the stock a “buy” rating in a report on Monday, June 19th. ValuEngine downgraded shares of Kroger Company (The) from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research downgraded shares of Kroger Company (The) from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $30.00 price objective (down from $40.00) on shares of Kroger Company (The) in a report on Friday, June 16th. Finally, Royal Bank Of Canada set a $34.00 price objective on shares of Kroger Company (The) and gave the stock a “buy” rating in a report on Tuesday, July 18th. Nineteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $30.51.
In related news, Director Susan M. Phillips sold 6,200 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $21.17, for a total value of $131,254.00. Following the transaction, the director now directly owns 124,105 shares of the company’s stock, valued at approximately $2,627,302.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Joseph Donnelly sold 17,600 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $30.01, for a total value of $528,176.00. Following the completion of the transaction, the insider now directly owns 249,208 shares in the company, valued at $7,478,732.08. The disclosure for this sale can be found here. 0.87% of the stock is owned by insiders.
Kroger Company (The) Company Profile
The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.
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