Concert Wealth Management Inc. reduced its position in shares of Kroger Co. (NYSE:KR) by 8.2% during the second quarter, Holdings Channel reports. The firm owned 8,536 shares of the company’s stock after selling 761 shares during the period. Concert Wealth Management Inc.’s holdings in Kroger were worth $313,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Cypress Capital Management LLC WY bought a new stake in Kroger during the second quarter valued at about $769,000. First National Trust Co. increased its stake in Kroger by 15.5% in the second quarter. First National Trust Co. now owns 61,388 shares of the company’s stock valued at $2,259,000 after buying an additional 8,242 shares during the period. ING Groep NV bought a new stake in Kroger during the second quarter valued at about $845,000. Chase Investment Counsel Corp increased its stake in Kroger by 0.6% in the second quarter. Chase Investment Counsel Corp now owns 89,300 shares of the company’s stock valued at $3,285,000 after buying an additional 532 shares during the period. Finally, First Midwest Bank Trust Division increased its stake in Kroger by 5.9% in the second quarter. First Midwest Bank Trust Division now owns 165,805 shares of the company’s stock valued at $6,099,000 after buying an additional 9,200 shares during the period. Hedge funds and other institutional investors own 80.16% of the company’s stock.
Kroger Co. (NYSE:KR) traded up 0.45% on Friday, hitting $31.27. The stock had a trading volume of 14,818,894 shares. The company’s 50 day moving average is $30.80 and its 200-day moving average is $34.40. The firm has a market capitalization of $29.52 billion, a price-to-earnings ratio of 14.83 and a beta of 0.70. Kroger Co. has a 1-year low of $28.71 and a 1-year high of $42.75.
Kroger (NYSE:KR) last released its quarterly earnings results on Friday, September 9th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. Kroger had a net margin of 1.82% and a return on equity of 32.52%. The company earned $26.60 billion during the quarter. During the same quarter in the previous year, the firm posted $0.44 earnings per share. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts forecast that Kroger Co. will post $2.14 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, November 10th. This represents a $0.48 annualized dividend and a yield of 1.54%. Kroger’s dividend payout ratio is currently 22.86%.
Several research firms have recently issued reports on KR. Morgan Stanley reiterated an “overweight” rating and set a $40.00 price target on shares of Kroger in a research note on Wednesday. Vetr downgraded Kroger from a “strong-buy” rating to a “buy” rating and set a $33.25 price target for the company. in a research note on Tuesday. Citigroup Inc. set a $39.00 price target on Kroger and gave the stock a “buy” rating in a research note on Friday, October 7th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $40.00 price target on shares of Kroger in a research note on Wednesday, October 5th. Finally, Zacks Investment Research downgraded Kroger from a “hold” rating to a “sell” rating in a research note on Monday, October 3rd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Kroger presently has a consensus rating of “Hold” and a consensus target price of $38.97.
In other Kroger news, insider Kevin M. Dougherty sold 31,000 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $31.05, for a total transaction of $962,550.00. Following the completion of the transaction, the insider now directly owns 130,857 shares in the company, valued at $4,063,109.85. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.85% of the company’s stock.
The Kroger Co (Kroger) operates retail food and drug stores, multi-department stores, jewelry stores and convenience stores across the United States. The Company also manufactures and processes food for sale in its supermarkets. It operates through retail operations segment. The Company operates, either directly or through its subsidiaries, approximately 2,778 retail food stores under a range of local banner names, approximately 1,387 of which have fuel centers.