DNB Asset Management AS Reduces Stake in Kroger Co (NYSE:KR)

DNB Asset Management AS lowered its stake in shares of Kroger Co (NYSE:KR) by 3.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 141,807 shares of the company’s stock after selling 4,406 shares during the quarter. DNB Asset Management AS’s holdings in Kroger were worth $3,656,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in Kroger by 30.2% during the 2nd quarter. Victory Capital Management Inc. now owns 10,689,834 shares of the company’s stock worth $232,077,000 after buying an additional 2,477,585 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Kroger by 170.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,450,595 shares of the company’s stock worth $74,912,000 after purchasing an additional 2,173,370 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Kroger during the 2nd quarter worth about $35,064,000. Coho Partners Ltd. raised its holdings in Kroger by 31.1% during the 2nd quarter. Coho Partners Ltd. now owns 6,451,743 shares of the company’s stock worth $140,067,000 after purchasing an additional 1,530,258 shares during the last quarter. Finally, Becker Capital Management Inc. raised its holdings in Kroger by 96.1% during the 2nd quarter. Becker Capital Management Inc. now owns 2,955,977 shares of the company’s stock worth $64,174,000 after purchasing an additional 1,448,824 shares during the last quarter. 80.35% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have weighed in on the company. Guggenheim set a $26.00 price objective on Kroger and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Credit Suisse Group reaffirmed an “outperform” rating and issued a $29.00 price target (up from $27.00) on shares of Kroger in a research note on Friday, September 13th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $26.00 price target (up from $24.00) on shares of Kroger in a research note on Wednesday, September 4th. Jefferies Financial Group cut Kroger from a “buy” rating to a “hold” rating and lowered their price target for the company from $29.00 to $26.00 in a research note on Thursday, October 10th. Finally, Telsey Advisory Group upped their price target on Kroger from $27.00 to $29.00 and gave the company a “market perform” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $27.37.

KR traded up $0.16 during trading hours on Friday, reaching $27.02. The company’s stock had a trading volume of 6,533,301 shares, compared to its average volume of 8,694,465. Kroger Co has a 52 week low of $20.70 and a 52 week high of $31.98. The company’s 50-day moving average is $25.12 and its 200-day moving average is $23.89. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.27 and a current ratio of 0.76. The firm has a market cap of $22.31 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 2.00 and a beta of 0.56.

Kroger (NYSE:KR) last posted its quarterly earnings data on Thursday, September 12th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.03. The firm had revenue of $28.17 billion for the quarter, compared to analysts’ expectations of $28.34 billion. Kroger had a return on equity of 21.17% and a net margin of 1.36%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 EPS. Equities analysts anticipate that Kroger Co will post 2.19 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Thursday, November 14th. Kroger’s dividend payout ratio (DPR) is presently 30.33%.

In other news, EVP J Michael Schlotman sold 68,187 shares of Kroger stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $26.02, for a total transaction of $1,774,225.74. Following the sale, the executive vice president now directly owns 295,160 shares of the company’s stock, valued at $7,680,063.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael Joseph Donnelly sold 40,510 shares of Kroger stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $26.28, for a total value of $1,064,602.80. Following the sale, the chief operating officer now directly owns 350,145 shares in the company, valued at $9,201,810.60. The disclosure for this sale can be found here. Insiders sold 134,323 shares of company stock worth $3,537,389 over the last ninety days. 1.34% of the stock is currently owned by insiders.

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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