Eagle Asset Management Inc. Lowers Stake in Kroger Company (The) (KR)

Eagle Asset Management Inc. lessened its holdings in Kroger Company (The) (NYSE:KR) by 0.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 64,787 shares of the company’s stock after selling 457 shares during the period. Eagle Asset Management Inc.’s holdings in Kroger Company (The) were worth $1,510,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Aldebaran Financial Inc. lifted its position in shares of Kroger Company (The) by 0.6% in the 1st quarter. Aldebaran Financial Inc. now owns 14,130 shares of the company’s stock worth $417,000 after purchasing an additional 78 shares during the period. Savant Capital LLC lifted its position in shares of Kroger Company (The) by 0.9% in the 2nd quarter. Savant Capital LLC now owns 10,617 shares of the company’s stock worth $248,000 after purchasing an additional 90 shares during the period. Cadence Capital Management LLC lifted its position in shares of Kroger Company (The) by 0.7% in the 1st quarter. Cadence Capital Management LLC now owns 19,717 shares of the company’s stock worth $581,000 after purchasing an additional 143 shares during the period. YorkBridge Wealth Partners LLC lifted its position in shares of Kroger Company (The) by 4.1% in the 1st quarter. YorkBridge Wealth Partners LLC now owns 4,323 shares of the company’s stock worth $125,000 after purchasing an additional 171 shares during the period. Finally, Peapack Gladstone Financial Corp lifted its position in shares of Kroger Company (The) by 1.7% in the 1st quarter. Peapack Gladstone Financial Corp now owns 11,189 shares of the company’s stock worth $330,000 after purchasing an additional 189 shares during the period. 74.63% of the stock is owned by hedge funds and other institutional investors.

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In related news, Director Susan M. Phillips sold 6,200 shares of the company’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $21.17, for a total value of $131,254.00. Following the completion of the sale, the director now owns 124,105 shares in the company, 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 J Michael Schlotman purchased 2,000 shares of Kroger Company (The) stock in a transaction that occurred on Monday, June 26th. The stock was acquired at an average price of $22.73 per share, with a total value of $45,460.00. The disclosure for this purchase can be found here. 0.87% of the stock is owned by corporate insiders.

KR has been the subject of a number of analyst reports. Jefferies Group LLC reissued a “hold” rating on shares of Kroger Company (The) in a research report on Friday, August 25th. Loop Capital initiated coverage on shares of Kroger Company (The) in a research report on Monday, May 15th. They set a “hold” rating and a $32.00 target price for the company. BidaskClub cut shares of Kroger Company (The) from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. TheStreet cut shares of Kroger Company (The) from a “b” rating to a “c+” rating in a research report on Thursday, June 15th. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $28.00 target price on shares of Kroger Company (The) in a research report on Sunday, July 2nd. One analyst has rated the stock with a sell rating, twenty have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Kroger Company (The) presently has a consensus rating of “Hold” and a consensus price target of $28.83.

Shares of Kroger Company (NYSE:KR) opened at 21.34 on Tuesday. The stock has a 50 day moving average of $23.12 and a 200-day moving average of $26.76. Kroger Company has a 1-year low of $20.41 and a 1-year high of $36.44. The firm has a market cap of $19.15 billion, a price-to-earnings ratio of 12.85 and a beta of 0.79.

Kroger Company (The) (NYSE:KR) last released its quarterly earnings results on Friday, September 8th. The company reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. Kroger Company (The) had a net margin of 1.32% and a return on equity of 28.04%. The firm had revenue of $27.60 billion during the quarter, compared to the consensus estimate of $27.48 billion. During the same quarter in the prior year, the firm earned $0.47 EPS. Kroger Company (The)’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities analysts anticipate that Kroger Company will post $1.98 EPS for the current fiscal year.

Kroger Company (The) announced that its board has approved a stock repurchase plan on Thursday, June 22nd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 4.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were given a $0.125 dividend. This is an increase from Kroger Company (The)’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, August 11th. This represents a $0.50 annualized dividend and a yield of 2.34%. Kroger Company (The)’s dividend payout ratio is 30.30%.

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.

Institutional Ownership by Quarter for Kroger Company (The) (NYSE:KR)

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