Groesbeck Investment Management Corp NJ Cuts Stock Holdings in The Kroger Co. (NYSE:KR)

Groesbeck Investment Management Corp NJ lowered its stake in The Kroger Co. (NYSE:KR) by 23.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 7,677 shares of the company’s stock after selling 2,400 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in Kroger were worth $351,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of KR. Norges Bank bought a new stake in Kroger in the fourth quarter valued at approximately $156,126,000. Alliancebernstein L.P. boosted its position in shares of Kroger by 82.0% in the 4th quarter. Alliancebernstein L.P. now owns 5,667,159 shares of the company’s stock worth $252,642,000 after purchasing an additional 2,552,989 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Kroger in the 1st quarter valued at approximately $71,410,000. Adage Capital Partners GP L.L.C. bought a new position in Kroger in the 3rd quarter valued at approximately $42,220,000. Finally, Brandywine Global Investment Management LLC lifted its position in Kroger by 32.3% in the 1st quarter. Brandywine Global Investment Management LLC now owns 3,826,004 shares of the company’s stock valued at $188,890,000 after acquiring an additional 933,009 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Kroger Stock Performance

Shares of NYSE KR traded up $0.22 during midday trading on Thursday, hitting $55.48. 841,896 shares of the stock traded hands, compared to its average volume of 4,938,850. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.36 and a current ratio of 0.81. The firm has a market capitalization of $40.04 billion, a P/E ratio of 18.67, a PEG ratio of 2.58 and a beta of 0.48. The Kroger Co. has a one year low of $42.10 and a one year high of $58.34. The firm has a 50-day moving average of $52.84 and a two-hundred day moving average of $47.69.

Kroger (NYSE:KR) last posted its quarterly earnings data on Thursday, March 7th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.13 by $0.21. The firm had revenue of $37.06 billion during the quarter, compared to analyst estimates of $37.07 billion. Kroger had a return on equity of 31.44% and a net margin of 1.44%. Kroger’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 EPS. On average, equities analysts forecast that The Kroger Co. will post 4.43 EPS for the current fiscal year.

Kroger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be paid a $0.29 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $1.16 annualized dividend and a dividend yield of 2.09%. Kroger’s dividend payout ratio (DPR) is 39.19%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Guggenheim upped their price objective on Kroger from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Telsey Advisory Group upped their price objective on Kroger from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Evercore ISI lowered their price objective on Kroger from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Tuesday. BNP Paribas reissued an “underperform” rating and set a $48.00 price target on shares of Kroger in a report on Monday, April 8th. Finally, Wells Fargo & Company raised Kroger from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $58.00 to $65.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $55.17.

Kroger Company Profile

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.