Palouse Capital Management Inc. raised its position in Kroger Co (NYSE:KR) by 125.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 299,449 shares of the company’s stock after acquiring an additional 166,522 shares during the period. Kroger makes up approximately 2.3% of Palouse Capital Management Inc.’s holdings, making the stock its 11th biggest holding. Palouse Capital Management Inc.’s holdings in Kroger were worth $6,501,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Sterling Investment Advisors Ltd. acquired a new stake in shares of Kroger during the first quarter worth $25,000. TRUE Private Wealth Advisors purchased a new position in shares of Kroger during the second quarter worth $26,000. Motco purchased a new position in shares of Kroger during the first quarter worth $28,000. Sageworth Trust Co purchased a new position in shares of Kroger during the second quarter worth $33,000. Finally, Penserra Capital Management LLC purchased a new position in shares of Kroger during the first quarter worth $38,000. Institutional investors own 80.31% of the company’s stock.
Shares of KR stock traded down $0.25 on Friday, reaching $23.42. 331,846 shares of the company were exchanged, compared to its average volume of 11,209,106. The company has a market cap of $18.30 billion, a price-to-earnings ratio of 11.06, a P/E/G ratio of 1.62 and a beta of 0.62. The business has a 50-day moving average price of $22.09 and a 200 day moving average price of $24.42. The company has a debt-to-equity ratio of 2.16, a quick ratio of 0.25 and a current ratio of 0.75. Kroger Co has a 1 year low of $20.70 and a 1 year high of $32.74.
Kroger (NYSE:KR) last released its earnings results on Thursday, June 20th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. The business had revenue of $37.25 billion during the quarter, compared to analysts’ expectations of $37.27 billion. Kroger had a net margin of 1.54% and a return on equity of 21.79%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.73 earnings per share. As a group, equities analysts anticipate that Kroger Co will post 2.17 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Thursday, August 15th will be given a dividend of $0.16 per share. The ex-dividend date is Wednesday, August 14th. This is a positive change from Kroger’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a yield of 2.73%. Kroger’s payout ratio is presently 30.33%.
Several research analysts recently issued reports on the stock. Pivotal Research raised shares of Kroger from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Friday, August 2nd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $27.00 price objective (down previously from $29.00) on shares of Kroger in a report on Friday, June 21st. BMO Capital Markets cut their price objective on shares of Kroger to $24.00 and set a “market perform” rating for the company in a report on Tuesday, June 18th. Guggenheim cut their price objective on shares of Kroger from $31.00 to $26.00 in a report on Monday, June 24th. Finally, TheStreet cut shares of Kroger from a “b-” rating to a “c+” rating in a research note on Wednesday, June 5th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. Kroger presently has a consensus rating of “Hold” and an average price target of $28.61.
In related news, insider Stephen M. Mckinney sold 15,600 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $22.05, for a total transaction of $343,980.00. Following the transaction, the insider now directly owns 168,070 shares in the company, valued at $3,705,943.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP J Michael Schlotman sold 15,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $22.01, for a total transaction of $330,150.00. Following the transaction, the executive vice president now owns 270,655 shares in the company, valued at $5,957,116.55. The disclosure for this sale can be found here. Insiders have sold 43,600 shares of company stock worth $955,450 over the last 90 days. 1.34% of the stock is currently owned by company insiders.
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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