DNB Asset Management AS Trims Holdings in The Kroger Co. $KR

DNB Asset Management AS reduced its stake in shares of The Kroger Co. (NYSE:KR) by 3.7% in the second quarter, Holdings Channel reports. The firm owned 115,254 shares of the company’s stock after selling 4,489 shares during the period. DNB Asset Management AS’s holdings in Kroger were worth $8,267,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. SOA Wealth Advisors LLC. lifted its holdings in Kroger by 6,840.0% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 347 shares of the company’s stock valued at $25,000 after buying an additional 342 shares in the last quarter. Accent Capital Management LLC bought a new stake in shares of Kroger during the first quarter valued at approximately $25,000. Atlantic Union Bankshares Corp bought a new stake in shares of Kroger during the second quarter valued at approximately $28,000. Rossby Financial LCC purchased a new stake in shares of Kroger in the second quarter valued at approximately $29,000. Finally, Whipplewood Advisors LLC grew its stake in Kroger by 10,425.0% in the second quarter. Whipplewood Advisors LLC now owns 421 shares of the company’s stock worth $30,000 after purchasing an additional 417 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Kroger Stock Up 0.2%

NYSE:KR opened at $66.05 on Friday. The company’s 50-day simple moving average is $66.43 and its 200-day simple moving average is $68.45. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.54 and a current ratio of 0.95. The Kroger Co. has a fifty-two week low of $57.69 and a fifty-two week high of $74.90. The stock has a market capitalization of $43.77 billion, a P/E ratio of 16.76, a P/E/G ratio of 1.92 and a beta of 0.55.

Kroger (NYSE:KR) last posted its quarterly earnings data on Thursday, September 11th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. The firm had revenue of $33.94 billion during the quarter, compared to analyst estimates of $34.08 billion. Kroger had a net margin of 1.86% and a return on equity of 32.62%. Kroger’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.93 EPS. Kroger has set its FY 2025 guidance at 4.700-4.800 EPS. On average, equities analysts anticipate that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Kroger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, November 14th. Kroger’s payout ratio is 35.53%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Evercore ISI lowered their target price on Kroger from $82.00 to $80.00 and set an “outperform” rating for the company in a report on Tuesday, October 14th. Guggenheim reaffirmed a “buy” rating and issued a $78.00 price objective on shares of Kroger in a research note on Wednesday. Telsey Advisory Group reiterated an “outperform” rating and set a $82.00 target price on shares of Kroger in a report on Thursday, September 11th. Wall Street Zen lowered shares of Kroger from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 26th. Finally, Roth Mkm upgraded shares of Kroger from a “neutral” rating to a “buy” rating and increased their price objective for the company from $66.00 to $75.00 in a research note on Wednesday, September 17th. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Kroger has an average rating of “Moderate Buy” and an average target price of $74.50.

About Kroger

The Kroger Co operates as a food and drug 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.