CAPROCK Group Inc. Takes Position in The Kroger Co. (NYSE:KR)

CAPROCK Group Inc. acquired a new stake in shares of The Kroger Co. (NYSE:KR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,634 shares of the company’s stock, valued at approximately $254,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Stonebridge Capital Advisors LLC purchased a new position in shares of The Kroger during the first quarter worth approximately $25,000. Selective Wealth Management Inc. raised its position in The Kroger by 62.5% in the 2nd quarter. Selective Wealth Management Inc. now owns 780 shares of the company’s stock worth $30,000 after purchasing an additional 300 shares during the period. Meridian Wealth Partners LLC bought a new stake in The Kroger in the first quarter worth $31,000. Accel Wealth Management boosted its position in The Kroger by 43.5% during the second quarter. Accel Wealth Management now owns 907 shares of the company’s stock valued at $35,000 after buying an additional 275 shares during the period. Finally, Financial Insights Inc. bought a new position in shares of The Kroger during the second quarter valued at about $38,000. Institutional investors own 82.42% of the company’s stock.

NYSE:KR opened at $39.47 on Thursday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.82 and a quick ratio of 0.38. The firm’s 50-day moving average price is $42.82 and its 200-day moving average price is $39.75. The company has a market capitalization of $29.35 billion, a PE ratio of 26.49, a P/E/G ratio of 1.54 and a beta of 0.39. The Kroger Co. has a 1-year low of $30.35 and a 1-year high of $47.99.

The Kroger (NYSE:KR) last announced its quarterly earnings data on Thursday, September 9th. The company reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.16. The Kroger had a net margin of 0.87% and a return on equity of 28.26%. The business had revenue of $31.68 billion for the quarter, compared to analysts’ expectations of $30.69 billion. During the same quarter in the prior year, the company earned $0.73 earnings per share. The business’s revenue was up 3.9% compared to the same quarter last year. Equities analysts anticipate that The Kroger Co. will post 3.28 EPS for the current fiscal year.

The Kroger declared that its board has initiated a share buyback program on Thursday, June 17th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 1st. Shareholders of record on Monday, November 15th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Friday, November 12th. The Kroger’s payout ratio is 24.21%.

In related news, VP Christine S. Wheatley sold 25,322 shares of the company’s stock in a transaction that occurred on Thursday, October 7th. The stock was sold at an average price of $39.68, for a total value of $1,004,776.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Todd A. Foley sold 28,874 shares of the business’s stock in a transaction on Tuesday, October 5th. The stock was sold at an average price of $39.83, for a total value of $1,150,051.42. The disclosure for this sale can be found here. Insiders sold 73,479 shares of company stock worth $2,966,226 over the last three months. Corporate insiders own 1.35% of the company’s stock.

Several research firms recently issued reports on KR. Credit Suisse Group raised their price target on The Kroger from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, September 13th. BMO Capital Markets upped their price target on shares of The Kroger from $36.00 to $39.00 and gave the company a “market perform” rating in a report on Monday, September 13th. Northcoast Research raised their price target on shares of The Kroger from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, September 7th. MKM Partners upped their price objective on shares of The Kroger from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Monday, September 13th. Finally, UBS Group raised their target price on The Kroger from $35.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, June 18th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, The Kroger has a consensus rating of “Hold” and an average price target of $38.44.

The Kroger Profile

The Kroger Co engages in the operation of supermarkets and multi-department stores. Its brands include Big K, Check This Out…, Heritage Farm, Simple Truth, and Simple Truth Organic. The company was founded by Barney Kroger in 1883 and is headquartered in Cincinnati, OH.

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

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