Amalgamated Bank Acquires 32,482 Shares of Kroger Company (The) (KR)

Amalgamated Bank raised its holdings in Kroger Company (The) (NYSE:KR) by 45.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,437 shares of the company’s stock after purchasing an additional 32,482 shares during the period. Amalgamated Bank’s holdings in Kroger Company (The) were worth $2,435,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Advantage Investment Management LLC lifted its stake in shares of Kroger Company (The) by 15.8% during the first quarter. Advantage Investment Management LLC now owns 3,682 shares of the company’s stock valued at $109,000 after buying an additional 502 shares during the period. YorkBridge Wealth Partners LLC lifted its stake in shares of Kroger Company (The) by 4.1% during the first quarter. YorkBridge Wealth Partners LLC now owns 4,323 shares of the company’s stock valued at $125,000 after buying an additional 171 shares during the period. Dupont Capital Management Corp purchased a new position in shares of Kroger Company (The) during the second quarter valued at approximately $105,000. Cedar Wealth Management LLC lifted its stake in shares of Kroger Company (The) by 155.9% during the second quarter. Cedar Wealth Management LLC now owns 4,990 shares of the company’s stock valued at $116,000 after buying an additional 3,040 shares during the period. Finally, CWM LLC lifted its stake in shares of Kroger Company (The) by 1,162.2% during the second quarter. CWM LLC now owns 5,213 shares of the company’s stock valued at $122,000 after buying an additional 4,800 shares during the period. 74.63% of the stock is currently owned by institutional investors.

Shares of Kroger Company (NYSE:KR) opened at 21.57 on Friday. The firm has a market cap of $19.26 billion, a PE ratio of 13.05 and a beta of 0.79. Kroger Company has a 12-month low of $20.41 and a 12-month high of $36.44. The company has a 50 day moving average of $22.83 and a 200-day moving average of $26.49.

Kroger Company (The) (NYSE:KR) last issued its earnings results on Friday, September 8th. The company reported $0.39 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. Kroger Company (The) had a net margin of 1.32% and a return on equity of 28.04%. The company had revenue of $27.60 billion for the quarter, compared to the consensus estimate of $27.48 billion. During the same quarter in the previous year, the company earned $0.47 EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities research analysts forecast that Kroger Company will post $1.97 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.50 annualized dividend and a dividend yield of 2.32%. Kroger Company (The)’s dividend payout ratio is presently 30.30%.

Kroger Company (The) declared that its Board of Directors has initiated a stock buyback program on Thursday, June 22nd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

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In other news, insider J Michael Schlotman bought 2,000 shares of Kroger Company (The) stock in a transaction dated Monday, June 26th. The shares were bought at an average price of $22.73 per share, for a total transaction of $45,460.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.85% of the stock is currently owned by insiders.

Several equities analysts recently issued reports on KR shares. Royal Bank Of Canada reduced their price objective on shares of Kroger Company (The) from $37.00 to $34.00 and set an “outperform” rating on the stock in a research note on Friday, June 16th. Scotiabank dropped their price target on shares of Kroger Company (The) from $36.00 to $31.00 and set an “outperform” rating for the company in a research report on Friday, June 16th. Goldman Sachs Group, Inc. (The) lowered shares of Kroger Company (The) from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $33.00 to $26.00 in a research report on Friday, June 16th. BidaskClub raised shares of Kroger Company (The) from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Vetr lowered shares of Kroger Company (The) from a “strong-buy” rating to a “buy” rating and set a $26.26 price target for the company. in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Kroger Company (The) currently has a consensus rating of “Hold” and a consensus target price of $28.58.

About Kroger Company (The)

The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.

Institutional Ownership by Quarter for Kroger Company (The) (NYSE:KR)

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