Kroger Co (NYSE:KR) Stake Increased by Convergence Investment Partners LLC

Convergence Investment Partners LLC increased its stake in Kroger Co (NYSE:KR) by 17.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,480 shares of the company’s stock after buying an additional 4,589 shares during the period. Convergence Investment Partners LLC’s holdings in Kroger were worth $1,066,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of KR. Macquarie Group Ltd. increased its stake in shares of Kroger by 140.0% in the fourth quarter. Macquarie Group Ltd. now owns 99,226 shares of the company’s stock worth $2,877,000 after buying an additional 57,881 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Kroger by 16.1% during the fourth quarter. Nuveen Asset Management LLC now owns 3,781,573 shares of the company’s stock valued at $109,628,000 after purchasing an additional 524,097 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Kroger during the fourth quarter valued at $480,000. Quadrant Capital Group LLC increased its stake in Kroger by 4.8% during the fourth quarter. Quadrant Capital Group LLC now owns 13,218 shares of the company’s stock valued at $368,000 after purchasing an additional 601 shares during the last quarter. Finally, Fulton Bank N.A. bought a new stake in Kroger during the first quarter valued at $214,000. Institutional investors and hedge funds own 77.77% of the company’s stock.

KR has been the subject of several recent research reports. Wells Fargo & Co boosted their target price on shares of Kroger from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. UBS Group boosted their target price on shares of Kroger from $33.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, June 15th. Morgan Stanley boosted their target price on shares of Kroger from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. CSFB boosted their target price on shares of Kroger from $33.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Finally, MKM Partners started coverage on shares of Kroger in a research note on Wednesday. They set a “neutral” rating and a $40.00 target price for the company. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the company’s stock. Kroger has a consensus rating of “Hold” and a consensus price target of $34.13.

In other Kroger news, CEO W Rodney Mcmullen sold 85,381 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $31.97, for a total transaction of $2,729,630.57. Following the completion of the sale, the chief executive officer now directly owns 3,097,481 shares of the company’s stock, valued at $99,026,467.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Clyde R. Moore sold 13,000 shares of the company’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $35.24, for a total value of $458,120.00. Following the completion of the transaction, the director now owns 132,677 shares in the company, valued at approximately $4,675,537.48. The disclosure for this sale can be found here. Insiders have sold 224,059 shares of company stock valued at $7,485,124 over the last ninety days. Insiders own 1.34% of the company’s stock.

KR stock traded up $0.38 during trading on Friday, hitting $34.79. The company had a trading volume of 7,289,828 shares, compared to its average volume of 7,254,519. The firm has a market capitalization of $26.77 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 2.20 and a beta of 0.38. The business has a 50 day moving average of $33.42 and a 200 day moving average of $31.42. Kroger Co has a fifty-two week low of $20.91 and a fifty-two week high of $36.84. The company has a current ratio of 0.83, a quick ratio of 0.40 and a debt-to-equity ratio of 2.02.

Kroger (NYSE:KR) last posted its quarterly earnings data on Thursday, June 18th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.10. Kroger had a net margin of 1.66% and a return on equity of 24.62%. The business had revenue of $41.55 billion during the quarter, compared to the consensus estimate of $40.92 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, equities analysts predict that Kroger Co will post 2.84 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, August 13th. This is a positive change from Kroger’s previous quarterly dividend of $0.16. This represents a $2.88 dividend on an annualized basis and a yield of 8.28%. Kroger’s dividend payout ratio is currently 29.09%.

Kroger Company 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.

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Institutional Ownership by Quarter for Kroger (NYSE:KR)

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