California Public Employees Retirement System cut its stake in shares of Kroger Co (NYSE:KR) by 21.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,026,203 shares of the company’s stock after selling 562,260 shares during the period. California Public Employees Retirement System’s holdings in Kroger were worth $49,845,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Lavaca Capital LLC purchased a new position in shares of Kroger during the 1st quarter worth approximately $25,000. Sterling Investment Advisors Ltd. purchased a new position in shares of Kroger during the 1st quarter worth approximately $25,000. Doyle Wealth Management purchased a new position in shares of Kroger during the 4th quarter worth approximately $26,000. Riverview Trust Co purchased a new position in shares of Kroger during the 4th quarter worth approximately $26,000. Finally, Motco purchased a new position in shares of Kroger during the 1st quarter worth approximately $28,000. 82.77% of the stock is owned by hedge funds and other institutional investors.
KR has been the subject of a number of analyst reports. Zacks Investment Research raised Kroger from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Tuesday, February 5th. ValuEngine downgraded Kroger from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. Morgan Stanley cut their target price on Kroger from $27.00 to $26.00 and set an “equal weight” rating for the company in a research note on Friday, March 8th. Buckingham Research initiated coverage on Kroger in a research note on Thursday, February 7th. They set an “underperform” rating and a $28.18 target price for the company. Finally, Pivotal Research reissued a “hold” rating and set a $26.00 target price (down from $31.00) on shares of Kroger in a research note on Friday, March 8th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $30.33.
Kroger (NYSE:KR) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). The firm had revenue of $28.09 billion during the quarter, compared to analyst estimates of $28.38 billion. Kroger had a return on equity of 23.50% and a net margin of 2.57%. The business’s revenue was down 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. As a group, equities research analysts forecast that Kroger Co will post 2.22 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Tuesday, May 14th. Kroger’s dividend payout ratio (DPR) is presently 26.54%.
In other Kroger news, Director Robert D. Beyer sold 80,000 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $24.52, for a total transaction of $1,961,600.00. Following the sale, the director now owns 126,800 shares in the company, valued at approximately $3,109,136. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Michael Joseph Donnelly sold 10,916 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $25.83, for a total value of $281,960.28. Following the sale, the vice president now owns 351,095 shares in the company, valued at approximately $9,068,783.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 108,416 shares of company stock worth $2,694,175. 1.07% of the stock is owned by insiders.
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The Kroger Co operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. 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.
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