Financial Counselors Inc. lowered its position in shares of Kroger Co (NYSE:KR) by 10.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,665 shares of the company’s stock after selling 1,815 shares during the quarter. Financial Counselors Inc.’s holdings in Kroger were worth $456,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. DnB Asset Management AS boosted its stake in shares of Kroger by 6.3% during the 2nd quarter. DnB Asset Management AS now owns 139,296 shares of the company’s stock worth $3,963,000 after acquiring an additional 8,200 shares in the last quarter. IFM Investors Pty Ltd boosted its stake in shares of Kroger by 45.1% during the 2nd quarter. IFM Investors Pty Ltd now owns 39,677 shares of the company’s stock worth $1,129,000 after acquiring an additional 12,327 shares in the last quarter. Farmers Trust Co. purchased a new stake in shares of Kroger during the 2nd quarter worth about $232,000. Raymond James Trust N.A. boosted its stake in shares of Kroger by 3.8% during the 2nd quarter. Raymond James Trust N.A. now owns 146,823 shares of the company’s stock worth $4,177,000 after acquiring an additional 5,415 shares in the last quarter. Finally, Atlas Brown Inc. purchased a new stake in shares of Kroger during the 2nd quarter worth about $204,000. 79.38% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on KR. Wells Fargo & Co increased their target price on shares of Kroger from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Monday, September 10th. Northcoast Research reissued a “buy” rating and set a $36.00 target price on shares of Kroger in a research note on Monday, July 23rd. Telsey Advisory Group reissued a “market perform” rating on shares of Kroger in a research note on Thursday, September 13th. Credit Suisse Group lowered their target price on shares of Kroger from $33.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, September 14th. Finally, Deutsche Bank lowered shares of Kroger from a “hold” rating to a “sell” rating and lowered their target price for the stock from $30.00 to $24.00 in a research note on Tuesday, October 9th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $30.40.
Kroger (NYSE:KR) last released its quarterly earnings results on Thursday, September 13th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.03. Kroger had a net margin of 3.05% and a return on equity of 28.05%. The firm had revenue of $27.87 billion during the quarter, compared to the consensus estimate of $27.95 billion. During the same quarter in the prior year, the firm earned $0.39 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, sell-side analysts expect that Kroger Co will post 2.13 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Thursday, November 15th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.56 dividend on an annualized basis and a yield of 1.86%. Kroger’s payout ratio is 27.45%.
In other Kroger news, Director Clyde R. Moore sold 13,000 shares of the stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $29.06, for a total value of $377,780.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Erin S. Sharp sold 25,314 shares of the stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $29.00, for a total transaction of $734,106.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,575 shares of company stock valued at $1,422,559. 1.07% of the stock is owned by insiders.
The Kroger Co, together with its subsidiaries, operates as a retailer in the United States. It also manufactures and processes food products for sale in its supermarkets. The company operates supermarkets, multi-department stores, jewelry stores, and convenience stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; multi-department stores provide general merchandise items, such as apparel, home fashion and furnishings, outdoor living, electronics, automotive products, toys, and fine jewelry; and price impact warehouse stores offer grocery, and health and beauty care items, as well as meat, dairy, baked goods, and fresh produce items.
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