State of Michigan Retirement System Trims Holdings in The Kroger Co. (NYSE:KR)

State of Michigan Retirement System reduced its holdings in shares of The Kroger Co. (NYSE:KRFree Report) by 28.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 210,687 shares of the company’s stock after selling 81,800 shares during the period. State of Michigan Retirement System’s holdings in Kroger were worth $9,631,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Forum Private Client Group LLC purchased a new position in shares of Kroger during the 4th quarter valued at approximately $310,000. Nexus Investment Management ULC increased its stake in Kroger by 17.6% during the fourth quarter. Nexus Investment Management ULC now owns 41,790 shares of the company’s stock valued at $1,910,000 after purchasing an additional 6,250 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Kroger by 3.2% during the fourth quarter. State of Alaska Department of Revenue now owns 122,503 shares of the company’s stock worth $5,599,000 after purchasing an additional 3,755 shares during the period. Precedent Wealth Partners LLC bought a new position in shares of Kroger in the 4th quarter worth about $368,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of Kroger by 115.2% in the 4th quarter. Global Retirement Partners LLC now owns 7,920 shares of the company’s stock valued at $368,000 after buying an additional 4,239 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Telsey Advisory Group lifted their price target on shares of Kroger from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Evercore ISI lifted their price target on shares of Kroger from $62.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Guggenheim lifted their price target on shares of Kroger from $60.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, Wells Fargo & Company raised shares of Kroger from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $42.00 to $50.00 in a report on Tuesday, February 27th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.64.

Get Our Latest Research Report on Kroger

Kroger Trading Up 1.5 %

Kroger stock opened at $57.82 on Wednesday. The company has a quick ratio of 0.36, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm has a 50-day moving average price of $50.40 and a two-hundred day moving average price of $46.80. The firm has a market capitalization of $41.60 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 2.65 and a beta of 0.48. The Kroger Co. has a 52-week low of $42.10 and a 52-week high of $57.83.

Kroger (NYSE:KRGet Free Report) last issued its quarterly earnings results on Thursday, March 7th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.21. The company had revenue of $37.06 billion during the quarter, compared to analyst estimates of $37.07 billion. Kroger had a net margin of 1.44% and a return on equity of 31.44%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 EPS. Sell-side analysts expect that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Tuesday, May 14th. Kroger’s dividend payout ratio is currently 39.19%.

About Kroger

(Free Report)

The Kroger Co operates as a food and drug retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. 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.

Further Reading

Want to see what other hedge funds are holding KR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Kroger Co. (NYSE:KRFree Report).

Institutional Ownership by Quarter for Kroger (NYSE:KR)

Receive News & Ratings for Kroger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kroger and related companies with MarketBeat.com's FREE daily email newsletter.