Canopy Partners LLC Has $3.13 Million Stock Holdings in The Kroger Co. $KR

Canopy Partners LLC cut its position in The Kroger Co. (NYSE:KR) by 47.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 43,678 shares of the company’s stock after selling 40,021 shares during the quarter. Kroger accounts for 1.1% of Canopy Partners LLC’s portfolio, making the stock its 20th biggest holding. Canopy Partners LLC’s holdings in Kroger were worth $3,133,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in Kroger by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 14,299,898 shares of the company’s stock valued at $967,863,000 after purchasing an additional 186,302 shares during the last quarter. Wellington Management Group LLP boosted its stake in Kroger by 85.3% during the 1st quarter. Wellington Management Group LLP now owns 6,397,771 shares of the company’s stock valued at $433,065,000 after purchasing an additional 2,945,848 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Kroger by 0.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,067,209 shares of the company’s stock valued at $342,999,000 after purchasing an additional 31,477 shares during the last quarter. Alyeska Investment Group L.P. boosted its stake in Kroger by 101.7% during the 1st quarter. Alyeska Investment Group L.P. now owns 4,084,584 shares of the company’s stock valued at $276,485,000 after purchasing an additional 2,059,574 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Kroger during the 1st quarter valued at about $178,385,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Evercore ISI lifted their target price on shares of Kroger from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 12th. Argus set a $85.00 price target on shares of Kroger in a report on Thursday, September 18th. Guggenheim reaffirmed a “buy” rating and issued a $78.00 price target on shares of Kroger in a report on Friday, September 12th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Kroger from $57.00 to $67.00 and gave the stock a “hold” rating in a report on Monday, June 23rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Kroger in a report on Saturday, September 27th. Ten investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $73.63.

Kroger Trading Up 3.2%

Shares of KR stock opened at $66.87 on Wednesday. The company’s fifty day simple moving average is $68.61 and its two-hundred day simple moving average is $69.01. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.95 and a quick ratio of 0.54. The Kroger Co. has a 1 year low of $54.88 and a 1 year high of $74.90. The stock has a market capitalization of $44.32 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.88 and a beta of 0.57.

Kroger (NYSE:KR) last issued its earnings results on Thursday, September 11th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. Kroger had a net margin of 1.86% and a return on equity of 32.62%. The business had revenue of $33.94 billion for the quarter, compared to analysts’ expectations of $34.08 billion. During the same quarter in the previous year, the firm posted $0.93 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. Kroger has set its FY 2025 guidance at 4.700-4.800 EPS. As a group, analysts anticipate that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.40 dividend on an annualized basis and a yield of 2.1%. Kroger’s payout ratio is presently 35.53%.

Insider Transactions at Kroger

In other Kroger news, Director Clyde R. Moore sold 3,810 shares of the business’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $71.61, for a total transaction of $272,834.10. Following the sale, the director owned 85,850 shares of the company’s stock, valued at $6,147,718.50. The trade was a 4.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.44% of the stock is owned by insiders.

Kroger Profile

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.