State of New Jersey Common Pension Fund D Reduces Stock Holdings in Kroger Co (NYSE:KR)

State of New Jersey Common Pension Fund D lowered its position in shares of Kroger Co (NYSE:KR) by 6.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 519,270 shares of the company’s stock after selling 34,718 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Kroger were worth $17,608,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Steel Peak Wealth Management LLC purchased a new position in Kroger during the third quarter valued at $433,000. Rafferty Asset Management LLC purchased a new position in Kroger during the second quarter valued at $304,000. State Street Corp lifted its position in Kroger by 2.9% during the first quarter. State Street Corp now owns 41,592,136 shares of the company’s stock valued at $1,252,755,000 after buying an additional 1,154,794 shares during the period. DNB Asset Management AS lifted its position in Kroger by 40.1% during the second quarter. DNB Asset Management AS now owns 170,571 shares of the company’s stock valued at $5,774,000 after buying an additional 48,817 shares during the period. Finally, Ayalon Holdings Ltd. lifted its position in Kroger by 1,544.9% during the second quarter. Ayalon Holdings Ltd. now owns 33,555 shares of the company’s stock valued at $1,126,000 after buying an additional 31,515 shares during the period. 81.69% of the stock is owned by institutional investors and hedge funds.

In related news, COO Michael Joseph Donnelly sold 70,720 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $33.22, for a total transaction of $2,349,318.40. Following the completion of the transaction, the chief operating officer now directly owns 373,136 shares in the company, valued at approximately $12,395,577.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Stephen M. Mckinney sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $33.90, for a total value of $339,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,458 shares of company stock valued at $4,038,441. 1.34% of the stock is currently owned by corporate insiders.

Kroger stock opened at $32.26 on Friday. The business has a 50-day simple moving average of $33.67 and a two-hundred day simple moving average of $33.60. The company has a market cap of $24.98 billion, a P/E ratio of 9.87, a P/E/G ratio of 1.67 and a beta of 0.35. Kroger Co has a 52-week low of $24.43 and a 52-week high of $37.22. The company has a quick ratio of 0.41, a current ratio of 0.84 and a debt-to-equity ratio of 1.26.

Kroger (NYSE:KR) last announced its quarterly earnings data on Friday, September 11th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.19. The company had revenue of $30.49 billion during the quarter, compared to the consensus estimate of $30.03 billion. Kroger had a return on equity of 26.31% and a net margin of 2.03%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 EPS. Research analysts anticipate that Kroger Co will post 3.28 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.23%. Kroger’s dividend payout ratio (DPR) is presently 32.73%.

KR has been the subject of several recent research reports. MKM Partners initiated coverage on Kroger in a research report on Wednesday, July 29th. They set a “neutral” rating and a $40.00 price objective for the company. Scotiabank lifted their price target on Kroger from $38.00 to $40.00 and gave the stock a “sector outperform” rating in a research report on Monday, September 14th. Telsey Advisory Group lifted their price target on Kroger from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 8th. Evercore ISI reaffirmed an “in-line” rating and issued a $36.00 price target (down previously from $40.00) on shares of Kroger in a research report on Friday, October 23rd. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $34.00 price target on shares of Kroger in a research report on Friday, July 24th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the company. Kroger currently has an average rating of “Hold” and a consensus target price of $35.50.

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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