Perigon Wealth Management LLC Acquires New Holdings in Kroger Co (NYSE:KR)

Perigon Wealth Management LLC acquired a new stake in shares of Kroger Co (NYSE:KR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,557 shares of the company’s stock, valued at approximately $425,000.

A number of other hedge funds also recently modified their holdings of the stock. Archer Investment Corp raised its position in Kroger by 3.4% during the first quarter. Archer Investment Corp now owns 9,675 shares of the company’s stock valued at $291,000 after acquiring an additional 315 shares in the last quarter. Dowling & Yahnke LLC boosted its stake in Kroger by 1.1% during the first quarter. Dowling & Yahnke LLC now owns 30,241 shares of the company’s stock worth $911,000 after buying an additional 335 shares during the last quarter. Horrell Capital Management Inc. lifted its stake in shares of Kroger by 0.6% in the 1st quarter. Horrell Capital Management Inc. now owns 62,322 shares of the company’s stock valued at $1,877,000 after purchasing an additional 342 shares during the last quarter. Optimum Investment Advisors lifted its stake in shares of Kroger by 33.2% in the 2nd quarter. Optimum Investment Advisors now owns 1,403 shares of the company’s stock valued at $47,000 after purchasing an additional 350 shares during the last quarter. Finally, Enterprise Financial Services Corp lifted its stake in shares of Kroger by 50.0% in the 1st quarter. Enterprise Financial Services Corp now owns 1,158 shares of the company’s stock valued at $35,000 after purchasing an additional 386 shares during the last quarter. 77.77% of the stock is currently owned by institutional investors.

Several research firms recently issued reports on KR. JPMorgan Chase & Co. boosted their price objective on Kroger from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, May 21st. MKM Partners started coverage on Kroger in a report on Wednesday. They issued a “neutral” rating and a $40.00 price objective on the stock. Citigroup downgraded Kroger from a “buy” rating to a “neutral” rating in a report on Wednesday, April 15th. Deutsche Bank upped their target price on Kroger from $33.00 to $35.00 in a research report on Friday, June 19th. Finally, Bank of America upped their target price on Kroger from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the company’s stock. Kroger has an average rating of “Hold” and a consensus target price of $34.13.

In related news, SVP Joseph A. Grieshaber, Jr. sold 33,600 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $34.00, for a total value of $1,142,400.00. Also, CEO W Rodney Mcmullen sold 85,381 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $31.97, for a total transaction of $2,729,630.57. Following the completion of the sale, the chief executive officer now owns 3,097,481 shares of the company’s stock, valued at $99,026,467.57. The disclosure for this sale can be found here. Over the last three months, insiders have sold 224,059 shares of company stock worth $7,485,124. Company insiders own 1.34% of the company’s stock.

Shares of KR stock opened at $34.79 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.83 and a debt-to-equity ratio of 2.02. The business has a 50 day moving average of $33.42 and a two-hundred day moving average of $31.42. The company has a market cap of $27.06 billion, a P/E ratio of 13.33, a PEG ratio of 2.23 and a beta of 0.38. Kroger Co has a 52 week low of $20.91 and a 52 week high of $36.84.

Kroger (NYSE:KR) last released its earnings results on Thursday, June 18th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. The firm had revenue of $41.55 billion during the quarter, compared to the consensus estimate of $40.92 billion. Kroger had a return on equity of 24.62% and a net margin of 1.66%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 earnings per share. Analysts expect that Kroger Co will post 2.84 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a dividend of $0.72 per share. This is an increase from Kroger’s previous quarterly dividend of $0.16. This represents a $2.88 annualized dividend and a yield of 8.28%. The ex-dividend date of this dividend is Thursday, August 13th. Kroger’s payout ratio is 29.09%.

Kroger Company Profile

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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