Equity Investment Corp Cuts Holdings in Kroger Co (KR)

Equity Investment Corp trimmed its position in shares of Kroger Co (NYSE:KR) by 36.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,230,699 shares of the company’s stock after selling 1,272,686 shares during the quarter. Kroger makes up approximately 2.1% of Equity Investment Corp’s holdings, making the stock its 26th largest position. Equity Investment Corp’s holdings in Kroger were worth $64,936,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Kroger by 2.3% in the 2nd quarter. BlackRock Inc. now owns 65,465,026 shares of the company’s stock worth $1,862,480,000 after purchasing an additional 1,490,831 shares in the last quarter. LSV Asset Management boosted its position in shares of Kroger by 6.1% in the 2nd quarter. LSV Asset Management now owns 15,856,614 shares of the company’s stock worth $451,120,000 after purchasing an additional 907,367 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Kroger by 1.4% in the 2nd quarter. Victory Capital Management Inc. now owns 8,533,613 shares of the company’s stock worth $242,781,000 after purchasing an additional 119,262 shares in the last quarter. Morgan Stanley boosted its position in shares of Kroger by 12.4% in the 2nd quarter. Morgan Stanley now owns 7,621,037 shares of the company’s stock worth $216,820,000 after purchasing an additional 842,386 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Kroger by 5,574.9% in the 2nd quarter. Millennium Management LLC now owns 6,969,288 shares of the company’s stock worth $198,276,000 after purchasing an additional 6,846,478 shares in the last quarter. 78.76% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP Calvin J. Kaufman sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, October 11th. The shares were sold at an average price of $27.47, for a total value of $288,435.00. Following the completion of the transaction, the senior vice president now directly owns 124,688 shares in the company, valued at approximately $3,425,179.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Clyde R. Moore sold 13,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $29.06, for a total transaction of $377,780.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,575 shares of company stock valued at $1,422,559. 1.07% of the stock is owned by company insiders.

A number of brokerages have recently commented on KR. Wells Fargo & Co boosted their price target on Kroger from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, September 10th. Northcoast Research reissued a “buy” rating and issued a $36.00 price target on shares of Kroger in a research report on Monday, July 23rd. Telsey Advisory Group reissued a “market perform” rating on shares of Kroger in a research report on Thursday, September 13th. Credit Suisse Group dropped their price target on Kroger from $33.00 to $32.00 and set an “outperform” rating on the stock in a research report on Friday, September 14th. Finally, Deutsche Bank cut Kroger from a “hold” rating to a “sell” rating and dropped their price target for the stock from $30.00 to $24.00 in a research report on Tuesday, October 9th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $30.40.

Shares of NYSE KR opened at $30.83 on Wednesday. Kroger Co has a twelve month low of $21.15 and a twelve month high of $32.74. The company has a market capitalization of $24.06 billion, a P/E ratio of 15.11, a PEG ratio of 2.34 and a beta of 0.77. The company has a quick ratio of 0.26, a current ratio of 0.73 and a debt-to-equity ratio of 1.65.

Kroger (NYSE:KR) last announced its quarterly earnings data on Thursday, September 13th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. Kroger had a net margin of 3.05% and a return on equity of 28.05%. The company had revenue of $27.87 billion during the quarter, compared to analyst estimates of $27.95 billion. During the same period in the previous year, the business earned $0.39 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Sell-side analysts expect that Kroger Co will post 2.13 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Investors 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 1.82%. Kroger’s payout ratio is currently 27.45%.

TRADEMARK VIOLATION WARNING: “Equity Investment Corp Cuts Holdings in Kroger Co (KR)” was first posted by WKRB News and is the sole property of of WKRB News. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.wkrb13.com/2018/11/07/equity-investment-corp-cuts-holdings-in-kroger-co-kr.html.

About Kroger

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.

Recommended Story: What is a Tariff?

Want to see what other hedge funds are holding KR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kroger Co (NYSE:KR).

Institutional Ownership by Quarter for Kroger (NYSE:KR)

Receive News & Ratings for Kroger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kroger and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply