Belpointe Asset Management LLC acquired a new stake in Kroger (NYSE:KR) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 19,356 shares of the company’s stock, valued at approximately $531,000.
Several other large investors also recently added to or reduced their stakes in KR. Sanders Capital LLC acquired a new position in shares of Kroger in the fourth quarter valued at about $293,538,000. Artisan Partners Limited Partnership acquired a new position in shares of Kroger in the third quarter valued at about $119,454,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Kroger in the fourth quarter valued at about $89,873,000. Alliancebernstein L.P. grew its stake in shares of Kroger by 70.1% in the fourth quarter. Alliancebernstein L.P. now owns 4,645,757 shares of the company’s stock valued at $127,526,000 after acquiring an additional 1,914,070 shares in the last quarter. Finally, Minneapolis Portfolio Management Group LLC acquired a new position in shares of Kroger in the fourth quarter valued at about $49,450,000. Hedge funds and other institutional investors own 75.69% of the company’s stock.
KR has been the topic of several research reports. Bank of America decreased their price target on shares of Kroger from $33.00 to $28.00 and set a “neutral” rating on the stock in a research note on Friday, March 9th. Citigroup upped their price objective on shares of Kroger from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, December 26th. ValuEngine cut shares of Kroger from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research cut shares of Kroger from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, TheStreet cut shares of Kroger from a “b” rating to a “c+” rating in a research report on Monday, March 5th. Seventeen investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $27.14.
Shares of KR stock traded down $0.04 on Friday, reaching $23.77. The company had a trading volume of 8,797,966 shares, compared to its average volume of 10,132,233. The stock has a market capitalization of $20,949.97, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 1.97 and a beta of 1.04. The company has a current ratio of 0.78, a quick ratio of 0.32 and a debt-to-equity ratio of 1.74. Kroger has a one year low of $19.69 and a one year high of $31.45.
Kroger (NYSE:KR) last released its quarterly earnings data on Thursday, March 8th. The company reported $0.63 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.63. Kroger had a return on equity of 29.27% and a net margin of 1.55%. The company had revenue of $31.03 billion during the quarter, compared to the consensus estimate of $30.81 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The firm’s revenue was up 12.4% compared to the same quarter last year. equities analysts predict that Kroger will post 2.06 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Tuesday, May 15th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Monday, May 14th. Kroger’s dividend payout ratio is currently 24.51%.
Kroger announced that its board has authorized a share repurchase plan on Thursday, March 15th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
In other news, insider Christopher T. Hjelm sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $30.64, for a total value of $245,120.00. Following the completion of the transaction, the insider now owns 251,784 shares of the company’s stock, valued at $7,714,661.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael Joseph Donnelly sold 40,000 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $30.64, for a total transaction of $1,225,600.00. Following the sale, the vice president now directly owns 319,124 shares of the company’s stock, valued at approximately $9,777,959.36. The disclosure for this sale can be found here. Insiders sold 62,800 shares of company stock valued at $1,888,824 in the last ninety days. 0.85% of the stock is currently owned by insiders.
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The Kroger Co, together with its subsidiaries, operates as a retailer in the United States. It also manufactures and processes food for sale in its supermarkets. The company operates retail food and drug stores, multi-department stores, jewelry stores, and convenience stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; multi-department stores provide general merchandise items, such as apparel, home fashion and furnishings, outdoor living, electronics, automotive products, toys, and fine jewelry; and price impact warehouse stores offer grocery, and health and beauty care items, as well as meat, dairy, baked goods, and fresh produce items.
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