Allspring Global Investments Holdings LLC Buys 48,843 Shares of The Kroger Co. (NYSE:KR)

Allspring Global Investments Holdings LLC raised its position in shares of The Kroger Co. (NYSE:KR) by 88.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,895 shares of the company’s stock after acquiring an additional 48,843 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Kroger were worth $5,953,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in KR. Hexagon Capital Partners LLC lifted its stake in shares of Kroger by 101.6% during the 1st quarter. Hexagon Capital Partners LLC now owns 496 shares of the company’s stock worth $28,000 after acquiring an additional 250 shares during the last quarter. Palisade Asset Management LLC bought a new stake in shares of Kroger during the first quarter worth $29,000. Altshuler Shaham Ltd purchased a new stake in shares of Kroger during the second quarter valued at $28,000. Redmont Wealth Advisors LLC bought a new position in shares of Kroger in the first quarter worth about $34,000. Finally, Newbridge Financial Services Group Inc. increased its stake in Kroger by 218.8% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 714 shares of the company’s stock worth $36,000 after buying an additional 490 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Kroger Trading Up 1.2 %

NYSE KR opened at $57.37 on Monday. The company has a 50 day moving average price of $54.84 and a 200 day moving average price of $53.86. The firm has a market cap of $41.41 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 0.87 and a beta of 0.47. The company has a quick ratio of 0.46, a current ratio of 0.87 and a debt-to-equity ratio of 0.96. The Kroger Co. has a 52 week low of $42.10 and a 52 week high of $58.34.

Kroger (NYSE:KR) last posted its quarterly earnings data on Thursday, September 12th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. The firm had revenue of $33.91 billion for the quarter, compared to the consensus estimate of $34.09 billion. Kroger had a net margin of 1.86% and a return on equity of 28.54%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.96 earnings per share. As a group, sell-side analysts forecast that The Kroger Co. will post 4.46 EPS for the current fiscal year.

Kroger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.23%. Kroger’s dividend payout ratio (DPR) is 43.69%.

Insiders Place Their Bets

In related news, VP Brian W. Nichols sold 6,922 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $55.80, for a total value of $386,247.60. Following the sale, the vice president now owns 14,063 shares in the company, valued at $784,715.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Kroger news, SVP Valerie L. Jabbar sold 3,000 shares of Kroger stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $55.91, for a total transaction of $167,730.00. Following the completion of the transaction, the senior vice president now owns 74,084 shares in the company, valued at approximately $4,142,036.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Brian W. Nichols sold 6,922 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $55.80, for a total value of $386,247.60. Following the completion of the transaction, the vice president now directly owns 14,063 shares of the company’s stock, valued at approximately $784,715.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,932 shares of company stock valued at $721,243. 1.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Argus raised their target price on shares of Kroger from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. raised their price objective on Kroger from $58.00 to $59.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Telsey Advisory Group reiterated an “outperform” rating and issued a $62.00 target price on shares of Kroger in a report on Wednesday, October 9th. Evercore ISI raised their price target on Kroger from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, September 13th. Finally, BNP Paribas began coverage on shares of Kroger in a research note on Friday, October 18th. They issued a “neutral” rating and a $56.00 price objective for the company. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.09.

Kroger Company 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.