Parthenon LLC Makes New Investment in The Kroger Co. (NYSE:KR)

Parthenon LLC bought a new stake in The Kroger Co. (NYSE:KR) during the third quarter, Holdings Channel reports. The institutional investor bought 3,664 shares of the company’s stock, valued at approximately $210,000.

Other hedge funds also recently modified their holdings of the company. Point72 Asset Management L.P. raised its holdings in shares of Kroger by 96.6% in the second quarter. Point72 Asset Management L.P. now owns 5,381,311 shares of the company’s stock valued at $268,689,000 after purchasing an additional 2,643,811 shares during the last quarter. Marshall Wace LLP increased its stake in Kroger by 698.8% in the 2nd quarter. Marshall Wace LLP now owns 1,878,479 shares of the company’s stock valued at $93,792,000 after buying an additional 1,643,307 shares during the last quarter. Maj Invest Holding A S lifted its position in shares of Kroger by 35.1% during the 2nd quarter. Maj Invest Holding A S now owns 4,395,212 shares of the company’s stock worth $219,456,000 after buying an additional 1,141,029 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Kroger by 13.4% in the second quarter. Legal & General Group Plc now owns 7,759,992 shares of the company’s stock valued at $387,456,000 after acquiring an additional 917,923 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Kroger by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 13,591,402 shares of the company’s stock valued at $678,562,000 after acquiring an additional 723,771 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Kroger Stock Performance

Shares of NYSE:KR traded down $0.28 during midday trading on Wednesday, reaching $59.40. 230,053 shares of the company traded hands, compared to its average volume of 4,696,726. The firm’s fifty day moving average price is $56.04 and its two-hundred day moving average price is $54.03. The firm has a market capitalization of $42.98 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 0.92 and a beta of 0.48. The company has a quick ratio of 0.46, a current ratio of 0.87 and a debt-to-equity ratio of 0.96. The Kroger Co. has a 12 month low of $42.10 and a 12 month high of $60.35.

Kroger (NYSE:KR) last announced its quarterly earnings results on Thursday, September 12th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.02. Kroger had a return on equity of 28.54% and a net margin of 1.86%. The firm had revenue of $33.91 billion for the quarter, compared to analysts’ expectations of $34.09 billion. During the same period in the prior year, the business posted $0.96 earnings per share. The company’s revenue was up .2% on a year-over-year basis. On average, equities analysts expect that The Kroger Co. will post 4.46 earnings per share for the current year.

Kroger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, November 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.15%. Kroger’s dividend payout ratio (DPR) is currently 33.51%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on KR shares. Telsey Advisory Group restated an “outperform” rating and issued a $62.00 price objective on shares of Kroger in a research note on Wednesday, October 9th. StockNews.com downgraded shares of Kroger from a “strong-buy” rating to a “buy” rating in a report on Monday, September 16th. BNP Paribas began coverage on shares of Kroger in a research note on Friday, October 18th. They issued a “neutral” rating and a $56.00 target price on the stock. Melius Research began coverage on shares of Kroger in a report on Monday, September 23rd. They issued a “hold” rating and a $55.00 price target on the stock. Finally, Argus increased their price objective on Kroger from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.09.

Insider Transactions at Kroger

In related news, VP Brian W. Nichols sold 6,922 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $55.80, for a total transaction of $386,247.60. Following the completion of the transaction, the vice president now directly owns 14,063 shares in the company, valued at $784,715.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Valerie L. Jabbar sold 3,000 shares of Kroger stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $55.91, for a total transaction of $167,730.00. Following the completion of the sale, the senior vice president now directly owns 74,084 shares of the company’s stock, valued at approximately $4,142,036.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brian W. Nichols sold 6,922 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $55.80, for a total value of $386,247.60. Following the completion of the transaction, the vice president now directly owns 14,063 shares in the company, valued at approximately $784,715.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,932 shares of company stock valued at $721,243. 1.40% of the stock is currently owned by company insiders.

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.