Mackenzie Financial Corp Cuts Holdings in Kroger Co (NYSE:KR)

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Mackenzie Financial Corp lowered its position in Kroger Co (NYSE:KR) by 3.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 825,853 shares of the company’s stock after selling 33,951 shares during the period. Mackenzie Financial Corp owned about 0.10% of Kroger worth $24,041,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the business. Willis Investment Counsel boosted its position in shares of Kroger by 50.2% during the 3rd quarter. Willis Investment Counsel now owns 670,820 shares of the company’s stock worth $19,528,000 after purchasing an additional 224,340 shares during the period. One Wealth Advisors LLC boosted its position in shares of Kroger by 861.6% during the 3rd quarter. One Wealth Advisors LLC now owns 12,712 shares of the company’s stock worth $370,000 after purchasing an additional 11,390 shares during the period. Thrivent Financial for Lutherans boosted its position in Kroger by 5,723.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,987,644 shares of the company’s stock valued at $57,861,000 after buying an additional 1,953,513 shares during the period. Worldquant Millennium Quantitative Strategies LLC boosted its position in Kroger by 47.4% in the 3rd quarter. Worldquant Millennium Quantitative Strategies LLC now owns 2,170,765 shares of the company’s stock valued at $63,191,000 after buying an additional 698,038 shares during the period. Finally, Man Group plc boosted its position in Kroger by 44.5% in the 3rd quarter. Man Group plc now owns 566,714 shares of the company’s stock valued at $16,497,000 after buying an additional 174,650 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

KR stock traded down $0.05 during trading on Friday, reaching $28.43. 4,415,525 shares of the company were exchanged, compared to its average volume of 6,979,738. The company has a market cap of $22.38 billion, a P/E ratio of 13.94, a P/E/G ratio of 1.94 and a beta of 0.82. Kroger Co has a 52-week low of $22.85 and a 52-week high of $32.74. The company has a current ratio of 0.73, a quick ratio of 0.25 and a debt-to-equity ratio of 1.53.

Kroger (NYSE:KR) last released its quarterly earnings data on Thursday, December 6th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05. Kroger had a net margin of 2.99% and a return on equity of 26.64%. The firm had revenue of $27.67 billion for the quarter, compared to the consensus estimate of $27.64 billion. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. On average, equities research analysts expect that Kroger Co will post 2.13 earnings per share for the current year.

In related news, Director Clyde R. Moore sold 13,000 shares of the stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $29.06, for a total value of $377,780.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Robert W. Clark sold 14,500 shares of the stock in a transaction dated Friday, December 7th. The stock was sold at an average price of $29.06, for a total transaction of $421,370.00. Following the completion of the sale, the insider now directly owns 181,087 shares in the company, valued at approximately $5,262,388.22. The disclosure for this sale can be found here. Insiders sold 177,698 shares of company stock worth $5,041,417 over the last ninety days. 1.07% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently weighed in on the stock. Credit Suisse Group reduced their price objective on shares of Kroger from $33.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday, September 14th. UBS Group raised their price objective on shares of Kroger from $29.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, October 31st. Telsey Advisory Group raised their price objective on shares of Kroger from $29.00 to $31.00 and gave the company a “market perform” rating in a report on Wednesday, October 31st. Pivotal Research restated a “hold” rating and issued a $31.00 price objective on shares of Kroger in a report on Tuesday, December 4th. Finally, Bank of America reiterated a “buy” rating and set a $37.00 price target (up from $35.00) on shares of Kroger in a research note on Friday, December 7th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $31.67.

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About Kroger

The Kroger Co, together with its subsidiaries, operates as a retailer in the United States. It also manufactures and processes food products for sale in its supermarkets. The company operates supermarkets, multi-department stores, jewelry stores, and convenience stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; multi-department stores provide general merchandise items, such as apparel, home fashion and furnishings, outdoor living, electronics, automotive products, toys, and fine jewelry; and price impact warehouse stores offer grocery, and health and beauty care items, as well as meat, dairy, baked goods, and fresh produce items.

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Institutional Ownership by Quarter for Kroger (NYSE:KR)

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