Navellier & Associates Inc. trimmed its position in The Kroger Co. (NYSE:KR – Get Rating) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 167,259 shares of the company’s stock after selling 1,220 shares during the period. Kroger makes up about 1.1% of Navellier & Associates Inc.’s portfolio, making the stock its 21st largest holding. Navellier & Associates Inc.’s holdings in Kroger were worth $7,570,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC increased its holdings in shares of Kroger by 41.5% in the third quarter. Hsbc Holdings PLC now owns 2,129,311 shares of the company’s stock valued at $86,614,000 after buying an additional 624,483 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in shares of Kroger by 3.6% in the fourth quarter. Wedge Capital Management L L P NC now owns 756,826 shares of the company’s stock valued at $34,254,000 after buying an additional 25,968 shares in the last quarter. Gotham Asset Management LLC increased its holdings in shares of Kroger by 406.9% in the third quarter. Gotham Asset Management LLC now owns 65,292 shares of the company’s stock valued at $2,640,000 after buying an additional 52,411 shares in the last quarter. RBA Wealth Management LLC bought a new position in shares of Kroger in the fourth quarter valued at $240,000. Finally, AlphaCrest Capital Management LLC increased its holdings in shares of Kroger by 83.2% in the fourth quarter. AlphaCrest Capital Management LLC now owns 41,385 shares of the company’s stock valued at $1,873,000 after buying an additional 18,792 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.
Several research analysts have issued reports on the company. Telsey Advisory Group upped their price target on Kroger from $62.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, April 7th. StockNews.com initiated coverage on shares of Kroger in a research note on Thursday, March 31st. They set a “strong-buy” rating on the stock. JPMorgan Chase & Co. boosted their target price on shares of Kroger from $44.00 to $45.00 in a research note on Friday, February 25th. Zacks Investment Research raised shares of Kroger from a “hold” rating to a “strong-buy” rating and set a $64.00 target price on the stock in a research note on Wednesday, March 9th. Finally, Scotiabank boosted their target price on shares of Kroger from $60.00 to $64.00 in a research note on Thursday, March 10th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $50.95.
Kroger (NYSE:KR – Get Rating) last issued its quarterly earnings data on Thursday, March 3rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.17. The firm had revenue of $33.05 billion during the quarter, compared to analysts’ expectations of $32.66 billion. Kroger had a net margin of 1.20% and a return on equity of 29.97%. Kroger’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.81 earnings per share. On average, sell-side analysts predict that The Kroger Co. will post 3.83 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Investors of record on Friday, May 13th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Thursday, May 12th. Kroger’s dividend payout ratio is presently 38.53%.
In other Kroger news, VP Todd A. Foley sold 4,200 shares of the company’s stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $55.05, for a total transaction of $231,210.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy A. Massa sold 50,283 shares of the company’s stock in a transaction dated Thursday, April 21st. The shares were sold at an average price of $58.03, for a total transaction of $2,917,922.49. Following the sale, the senior vice president now owns 163,956 shares of the company’s stock, valued at $9,514,366.68. The disclosure for this sale can be found here. Insiders sold 432,968 shares of company stock valued at $24,877,771 over the last quarter. 1.35% of the stock is currently owned by corporate insiders.
Kroger Company Profile (Get Rating)
The Kroger Co operates as a 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.
- Get a free copy of the StockNews.com research report on Kroger (KR)
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