The Kroger Co. (NYSE:KR) Stock Position Cut by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ reduced its position in shares of The Kroger Co. (NYSE:KR) by 31.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,677 shares of the company’s stock after selling 3,537 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in Kroger were worth $440,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Lighthouse Investment Partners LLC bought a new position in Kroger during the second quarter worth $10,336,000. Buck Wealth Strategies LLC acquired a new position in Kroger during the 2nd quarter worth approximately $6,524,000. Oppenheimer & Co. Inc. raised its stake in Kroger by 53.3% in the 1st quarter. Oppenheimer & Co. Inc. now owns 9,241 shares of the company’s stock valued at $528,000 after acquiring an additional 3,212 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Kroger by 18.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 820,623 shares of the company’s stock worth $46,882,000 after buying an additional 129,873 shares during the period. Finally, OLD National Bancorp IN grew its holdings in shares of Kroger by 82.2% during the 2nd quarter. OLD National Bancorp IN now owns 132,857 shares of the company’s stock worth $6,634,000 after purchasing an additional 59,949 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Carin L. Fike sold 3,010 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $55.57, for a total transaction of $167,265.70. Following the completion of the transaction, the vice president now directly owns 47,593 shares of the company’s stock, valued at $2,644,743.01. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, VP Brian W. Nichols sold 6,922 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $55.80, for a total transaction of $386,247.60. Following the sale, the vice president now owns 14,063 shares in the company, valued at approximately $784,715.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Carin L. Fike sold 3,010 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $55.57, for a total transaction of $167,265.70. Following the transaction, the vice president now directly owns 47,593 shares in the company, valued at approximately $2,644,743.01. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,932 shares of company stock valued at $721,243. Insiders own 1.40% of the company’s stock.

Kroger Price Performance

KR stock traded up $0.68 during trading on Friday, hitting $57.37. The stock had a trading volume of 4,249,881 shares, compared to its average volume of 4,785,738. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.87 and a quick ratio of 0.46. The company’s 50-day moving average price is $54.75 and its two-hundred day moving average price is $53.88. The Kroger Co. has a twelve month low of $42.10 and a twelve month high of $58.34. The stock has a market capitalization of $41.41 billion, a P/E ratio of 19.58, a PEG ratio of 0.87 and a beta of 0.47.

Kroger (NYSE:KR) last announced its earnings results on Thursday, September 12th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The company had revenue of $33.91 billion for the quarter, compared to analyst estimates of $34.09 billion. Kroger had a return on equity of 28.54% and a net margin of 1.86%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.96 earnings per share. As a group, research analysts predict that The Kroger Co. will post 4.46 EPS for the current fiscal year.

Kroger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.23%. Kroger’s dividend payout ratio (DPR) is presently 43.69%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Melius Research assumed coverage on Kroger in a report on Monday, September 23rd. They issued a “hold” rating and a $55.00 target price for the company. Morgan Stanley increased their target price on Kroger from $57.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. StockNews.com cut Kroger from a “strong-buy” rating to a “buy” rating in a report on Monday, September 16th. Evercore ISI increased their target price on Kroger from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, September 13th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $62.00 price objective on shares of Kroger in a research report on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.09.

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.