Cedar Wealth Management LLC Raises Position in Kroger Co (NYSE:KR)

Cedar Wealth Management LLC grew its position in Kroger Co (NYSE:KR) by 2.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 23,645 shares of the company’s stock after buying an additional 455 shares during the period. Kroger makes up about 0.4% of Cedar Wealth Management LLC’s investment portfolio, making the stock its 24th largest holding. Cedar Wealth Management LLC’s holdings in Kroger were worth $610,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Rhumbline Advisers raised its holdings in Kroger by 2.6% in the third quarter. Rhumbline Advisers now owns 1,475,792 shares of the company’s stock worth $38,046,000 after buying an additional 38,077 shares during the last quarter. AdvisorNet Financial Inc raised its holdings in shares of Kroger by 30.4% during the third quarter. AdvisorNet Financial Inc now owns 7,013 shares of the company’s stock valued at $181,000 after purchasing an additional 1,635 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Kroger by 110.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 609,000 shares of the company’s stock valued at $15,700,000 after purchasing an additional 319,000 shares during the last quarter. FormulaFolio Investments LLC purchased a new position in shares of Kroger during the third quarter valued at approximately $522,000. Finally, Foundry Partners LLC raised its holdings in shares of Kroger by 90.7% during the third quarter. Foundry Partners LLC now owns 629,525 shares of the company’s stock valued at $16,229,000 after purchasing an additional 299,455 shares during the last quarter. 80.35% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently weighed in on KR. Credit Suisse Group reissued an “outperform” rating and set a $29.00 price objective (up from $27.00) on shares of Kroger in a report on Friday, September 13th. UBS Group boosted their price objective on shares of Kroger from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, September 13th. Pivotal Research reissued a “buy” rating and set a $30.00 price objective (up from $26.00) on shares of Kroger in a report on Wednesday, September 11th. ValuEngine raised shares of Kroger from a “strong sell” rating to a “sell” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group cut shares of Kroger from a “buy” rating to a “hold” rating and decreased their price objective for the company from $29.00 to $26.00 in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. Kroger has a consensus rating of “Hold” and an average target price of $27.37.

In other Kroger news, EVP J Michael Schlotman sold 68,187 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $26.02, for a total value of $1,774,225.74. Following the completion of the transaction, the executive vice president now directly owns 295,160 shares in the company, valued at $7,680,063.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Michael Joseph Donnelly sold 1,574 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $26.46, for a total transaction of $41,648.04. Following the completion of the transaction, the chief operating officer now owns 324,209 shares of the company’s stock, valued at $8,578,570.14. The disclosure for this sale can be found here. Insiders have sold 118,923 shares of company stock valued at $3,106,189 over the last 90 days. 1.34% of the stock is currently owned by company insiders.

Shares of NYSE KR opened at $24.93 on Friday. The firm has a 50 day moving average of $25.06 and a 200 day moving average of $23.86. The company has a current ratio of 0.76, a quick ratio of 0.27 and a debt-to-equity ratio of 2.15. The firm has a market capitalization of $20.02 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 1.80 and a beta of 0.58. Kroger Co has a 12-month low of $20.70 and a 12-month high of $31.98.

Kroger (NYSE:KR) last announced its earnings results on Thursday, September 12th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. The company had revenue of $28.17 billion during the quarter, compared to analyst estimates of $28.34 billion. Kroger had a net margin of 1.36% and a return on equity of 21.17%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 earnings per share. Sell-side analysts predict that Kroger Co will post 2.19 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.64 annualized dividend and a yield of 2.57%. Kroger’s dividend payout ratio (DPR) is 30.33%.

About Kroger

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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Institutional Ownership by Quarter for Kroger (NYSE:KR)

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