Oppenheimer & Co. Inc. Trims Stock Holdings in Kroger Co (NYSE:KR)

Oppenheimer & Co. Inc. lowered its position in shares of Kroger Co (NYSE:KR) by 23.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 23,011 shares of the company’s stock after selling 6,908 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Kroger were worth $500,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. TRUE Private Wealth Advisors purchased a new position in shares of Kroger during the second quarter worth $26,000. Sageworth Trust Co acquired a new position in shares of Kroger in the 2nd quarter valued at about $33,000. Penserra Capital Management LLC purchased a new stake in shares of Kroger in the first quarter worth about $38,000. Capital Investment Advisory Services LLC grew its holdings in Kroger by 57.2% during the second quarter. Capital Investment Advisory Services LLC now owns 1,787 shares of the company’s stock worth $37,000 after acquiring an additional 650 shares during the period. Finally, Farmers National Bank acquired a new stake in Kroger during the first quarter worth about $46,000. Institutional investors and hedge funds own 80.64% of the company’s stock.

A number of research analysts have issued reports on KR shares. Pivotal Research reissued a “buy” rating and issued a $26.00 price target on shares of Kroger in a report on Wednesday. Sanford C. Bernstein raised shares of Kroger from a “market perform” rating to an “outperform” rating and set a $33.00 price objective on the stock in a research note on Monday, May 20th. TheStreet lowered shares of Kroger from a “b-” rating to a “c+” rating in a report on Wednesday, June 5th. BMO Capital Markets reiterated a “market perform” rating and issued a $26.00 target price (up from $24.00) on shares of Kroger in a research note on Wednesday, September 4th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $27.00 price target (down from $29.00) on shares of Kroger in a report on Friday, June 21st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $28.29.

In other Kroger news, Director Ronald Sargent acquired 5,000 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was bought at an average price of $21.49 per share, for a total transaction of $107,450.00. Following the acquisition, the director now owns 94,660 shares in the company, valued at $2,034,243.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen M. Mckinney sold 15,600 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $22.05, for a total transaction of $343,980.00. Following the completion of the transaction, the insider now directly owns 168,070 shares in the company, valued at $3,705,943.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,600 shares of company stock valued at $955,450. 1.34% of the stock is owned by corporate insiders.

KR stock traded down $0.24 during trading on Wednesday, hitting $25.58. The stock had a trading volume of 4,674,577 shares, compared to its average volume of 7,741,217. Kroger Co has a twelve month low of $20.70 and a twelve month high of $32.08. The company’s 50-day moving average price is $22.98 and its two-hundred day moving average price is $23.99. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.75 and a quick ratio of 0.25. The stock has a market capitalization of $20.63 billion, a P/E ratio of 12.12, a PEG ratio of 1.78 and a beta of 0.56.

Kroger (NYSE:KR) last released its earnings results on Thursday, June 20th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. The business had revenue of $37.25 billion for the quarter, compared to the consensus estimate of $37.27 billion. Kroger had a return on equity of 21.79% and a net margin of 1.54%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 earnings per share. As a group, sell-side analysts expect that Kroger Co will post 2.17 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.50%. This is a boost from Kroger’s previous quarterly dividend of $0.14. The ex-dividend date was Wednesday, August 14th. Kroger’s payout ratio is presently 30.33%.

About Kroger

The Kroger Co operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. 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.

Further Reading: Buyback

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Institutional Ownership by Quarter for Kroger (NYSE:KR)

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