Fisher Asset Management LLC reduced its stake in Kroger Co. (NYSE:KR) by 31.3% during the third quarter, Holdings Channel reports. The fund owned 254,772 shares of the company’s stock after selling 115,992 shares during the period. Fisher Asset Management LLC’s holdings in Kroger were worth $7,562,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Research Global Investors raised its stake in Kroger by 9.7% in the second quarter. Capital Research Global Investors now owns 64,888,884 shares of the company’s stock worth $2,387,262,000 after buying an additional 5,748,043 shares in the last quarter. Vanguard Group Inc. raised its stake in Kroger by 2.2% in the second quarter. Vanguard Group Inc. now owns 58,102,329 shares of the company’s stock worth $2,137,584,000 after buying an additional 1,271,959 shares in the last quarter. Janus Capital Management LLC raised its stake in Kroger by 14.8% in the second quarter. Janus Capital Management LLC now owns 35,280,006 shares of the company’s stock worth $1,297,932,000 after buying an additional 4,550,220 shares in the last quarter. Alliancebernstein L.P. raised its stake in Kroger by 11.1% in the second quarter. Alliancebernstein L.P. now owns 14,668,961 shares of the company’s stock worth $539,671,000 after buying an additional 1,466,784 shares in the last quarter. Finally, BlackRock Advisors LLC raised its stake in Kroger by 2.1% in the second quarter. BlackRock Advisors LLC now owns 11,758,975 shares of the company’s stock worth $432,613,000 after buying an additional 241,516 shares in the last quarter. Institutional investors own 75.51% of the company’s stock.
Kroger Co. (NYSE:KR) traded down 0.65% on Monday, reaching $33.66. 4,903,367 shares of the company’s stock traded hands. The stock has a market capitalization of $31.78 billion, a price-to-earnings ratio of 15.96 and a beta of 0.74. The firm has a 50-day moving average price of $31.79 and a 200-day moving average price of $33.36. Kroger Co. has a 52 week low of $28.71 and a 52 week high of $42.75.
Kroger (NYSE:KR) last posted its quarterly earnings results on Friday, September 9th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The business had revenue of $26.60 billion for the quarter. Kroger had a net margin of 1.82% and a return on equity of 32.52%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.44 EPS. On average, analysts predict that Kroger Co. will post $2.13 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. Kroger’s dividend payout ratio is 22.86%.
A number of analysts have weighed in on KR shares. Deutsche Bank AG reduced their price objective on shares of Kroger from $41.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, September 9th. Citigroup Inc. reduced their price objective on shares of Kroger from $44.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, August 29th. Argus reduced their price objective on shares of Kroger from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, September 12th. Goldman Sachs Group Inc. restated a “buy” rating and set a $39.00 price objective (down from $40.00) on shares of Kroger in a research note on Wednesday, September 14th. Finally, Vetr lowered shares of Kroger from a “strong-buy” rating to a “buy” rating and set a $33.25 price objective for the company. in a research note on Tuesday, October 11th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $38.28.
In other Kroger news, insider Kevin M. Dougherty sold 31,000 shares of the firm’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 value of $962,550.00. Following the sale, the insider now owns 130,857 shares in the company, valued at $4,063,109.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.85% of the company’s stock.
Kroger Company Profile
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.