SteelPeak Wealth LLC Trims Holdings in The Kroger Co. (NYSE:KR)

SteelPeak Wealth LLC trimmed its position in The Kroger Co. (NYSE:KR) by 85.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,061 shares of the company’s stock after selling 37,000 shares during the quarter. SteelPeak Wealth LLC’s holdings in Kroger were worth $277,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. ICA Group Wealth Management LLC raised its stake in shares of Kroger by 12.2% in the first quarter. ICA Group Wealth Management LLC now owns 1,880 shares of the company’s stock worth $93,000 after purchasing an additional 205 shares during the last quarter. Bison Wealth LLC raised its position in Kroger by 2.7% during the second quarter. Bison Wealth LLC now owns 7,859 shares of the company’s stock valued at $369,000 after acquiring an additional 206 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its position in Kroger by 1.2% during the first quarter. Nations Financial Group Inc. IA ADV now owns 17,802 shares of the company’s stock valued at $879,000 after acquiring an additional 206 shares in the last quarter. United Capital Financial Advisers LLC raised its position in Kroger by 1.9% during the first quarter. United Capital Financial Advisers LLC now owns 11,571 shares of the company’s stock valued at $664,000 after acquiring an additional 221 shares in the last quarter. Finally, IHT Wealth Management LLC raised its position in Kroger by 3.4% during the first quarter. IHT Wealth Management LLC now owns 6,693 shares of the company’s stock valued at $384,000 after acquiring an additional 222 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KR has been the subject of several recent research reports. Guggenheim lifted their price target on Kroger from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Wells Fargo & Company upgraded Kroger from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $42.00 to $50.00 in a research report on Tuesday, February 27th. Evercore ISI boosted their price objective on Kroger from $62.00 to $64.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Finally, Telsey Advisory Group boosted their price objective on Kroger from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Kroger currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.64.

Kroger Stock Performance

Shares of NYSE:KR opened at $57.31 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.36. The business’s 50 day moving average price is $51.31 and its 200-day moving average price is $47.11. The firm has a market capitalization of $41.36 billion, a PE ratio of 19.36, a P/E/G ratio of 2.67 and a beta of 0.48. The Kroger Co. has a 1 year low of $42.10 and a 1 year high of $58.34.

Kroger (NYSE:KR) last issued its quarterly earnings results on Thursday, March 7th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.21. The firm had revenue of $37.06 billion for the quarter, compared to analyst estimates of $37.07 billion. Kroger had a return on equity of 31.44% and a net margin of 1.44%. The business’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.99 earnings per share. As a group, equities research analysts expect that The Kroger Co. will post 4.43 earnings per share for the current fiscal year.

Kroger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Tuesday, May 14th. Kroger’s dividend payout ratio (DPR) is currently 39.19%.

About Kroger

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.