Robeco Institutional Asset Management B.V. increased its position in shares of Kroger (NYSE:KR) by 16.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 941,859 shares of the company’s stock after buying an additional 133,479 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Kroger were worth $22,547,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Becker Capital Management Inc. increased its stake in Kroger by 14.3% during the 1st quarter. Becker Capital Management Inc. now owns 2,222,277 shares of the company’s stock worth $53,201,000 after buying an additional 277,432 shares during the period. LSV Asset Management increased its stake in Kroger by 5.9% during the 1st quarter. LSV Asset Management now owns 14,949,247 shares of the company’s stock worth $357,884,000 after buying an additional 836,300 shares during the period. Ffcm LLC increased its stake in Kroger by 15,532.0% during the 1st quarter. Ffcm LLC now owns 34,234 shares of the company’s stock worth $820,000 after buying an additional 34,015 shares during the period. Palouse Capital Management Inc. increased its stake in Kroger by 112.8% during the 1st quarter. Palouse Capital Management Inc. now owns 144,441 shares of the company’s stock worth $3,458,000 after buying an additional 76,559 shares during the period. Finally, Smead Capital Management Inc. increased its stake in Kroger by 105.9% during the 1st quarter. Smead Capital Management Inc. now owns 1,926,526 shares of the company’s stock worth $46,121,000 after buying an additional 990,737 shares during the period. 79.47% of the stock is currently owned by hedge funds and other institutional investors.
NYSE KR opened at $24.57 on Monday. Kroger has a one year low of $19.69 and a one year high of $31.45. The company has a quick ratio of 0.32, a current ratio of 0.78 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $20.99 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 2.03 and a beta of 1.03.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Tuesday, May 15th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Monday, May 14th. Kroger’s payout ratio is 24.51%.
Kroger declared that its board has initiated 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 purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
KR has been the subject of several research analyst reports. Bank of America dropped their target price on shares of Kroger from $33.00 to $28.00 and set a “neutral” rating for the company in a research report on Friday, March 9th. ValuEngine downgraded shares of Kroger from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. TheStreet downgraded shares of Kroger from a “b” rating to a “c+” rating in a research report on Monday, March 5th. Credit Suisse Group initiated coverage on shares of Kroger in a research report on Tuesday, April 17th. They issued an “outperform” rating and a $28.00 target price for the company. Finally, Zacks Investment Research raised shares of Kroger from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $27.17.
In other Kroger news, VP Todd A. Foley sold 3,800 shares of the business’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $24.43, for a total transaction of $92,834.00. Following the completion of the transaction, the vice president now directly owns 31,273 shares of the company’s stock, valued at approximately $763,999.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.87% of the company’s stock.
Kroger Company Profile
The Kroger Co, together with its subsidiaries, operates as a retailer in the United States. It also manufactures and processes food products for sale in its supermarkets. The company operates supermarkets, 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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