Stoneridge Investment Partners LLC Buys Shares of 28,750 Kroger Co (NYSE:KR)

Stoneridge Investment Partners LLC bought a new stake in shares of Kroger Co (NYSE:KR) during the second quarter, Holdings Channel reports. The fund bought 28,750 shares of the company’s stock, valued at approximately $624,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lavaca Capital LLC acquired a new stake in Kroger in the 1st quarter worth approximately $25,000. Sterling Investment Advisors Ltd. acquired a new stake in Kroger in the 1st quarter worth approximately $25,000. Motco acquired a new stake in Kroger in the 1st quarter worth approximately $28,000. Sageworth Trust Co acquired a new stake in Kroger in the 2nd quarter worth approximately $33,000. Finally, Penserra Capital Management LLC acquired a new stake in Kroger in the 1st quarter worth approximately $38,000. 80.19% of the stock is currently owned by institutional investors and hedge funds.

NYSE KR traded down $0.08 on Friday, hitting $23.27. 254,333 shares of the company’s stock traded hands, compared to its average volume of 9,443,247. The company has a quick ratio of 0.25, a current ratio of 0.75 and a debt-to-equity ratio of 2.16. Kroger Co has a 1-year low of $20.70 and a 1-year high of $32.74. The stock’s 50-day moving average price is $21.80. The firm has a market cap of $17.80 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 1.58 and a beta of 0.62.

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

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Thursday, August 15th will be paid a $0.16 dividend. This is a boost from Kroger’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Wednesday, August 14th. Kroger’s payout ratio is currently 26.54%.

In related news, insider Stephen M. Mckinney sold 15,600 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $22.05, for a total value of $343,980.00. Following the completion of the transaction, the insider now directly owns 168,070 shares in the company, valued at approximately $3,705,943.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP J Michael Schlotman sold 15,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $22.01, for a total transaction of $330,150.00. Following the completion of the transaction, the executive vice president now owns 270,655 shares of the company’s stock, valued at $5,957,116.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,600 shares of company stock valued at $955,450. Company insiders own 1.34% of the company’s stock.

A number of analysts recently commented on the stock. ValuEngine upgraded shares of Kroger from a “strong sell” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research upgraded shares of Kroger from a “sell” rating to a “hold” rating and set a $26.00 price objective for the company in a research note on Friday, May 31st. BMO Capital Markets decreased their price objective on shares of Kroger to $24.00 and set a “market perform” rating for the company in a research note on Tuesday, June 18th. Guggenheim decreased their price objective on shares of Kroger from $31.00 to $26.00 in a research note on Monday, June 24th. Finally, Sanford C. Bernstein upgraded shares of Kroger from a “market perform” rating to an “outperform” rating and set a $33.00 price objective for the company in a research note on Monday, May 20th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $28.61.

Kroger Profile

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: What does a bar chart mean for investors?

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.