PNC Financial Services Group Inc. lessened its holdings in Kroger Co (NYSE:KR) by 8.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 513,936 shares of the company’s stock after selling 46,126 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.06% of Kroger worth $14,134,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of KR. Lindbrook Capital LLC bought a new position in Kroger during the 4th quarter worth approximately $32,000. Financial Gravity Companies Inc. bought a new position in Kroger in the fourth quarter valued at approximately $33,000. Synovus Financial Corp lifted its stake in Kroger by 263.9% in the fourth quarter. Synovus Financial Corp now owns 1,379 shares of the company’s stock valued at $38,000 after buying an additional 1,000 shares in the last quarter. Signet Investment Advisory Group Inc. bought a new position in Kroger in the fourth quarter valued at approximately $44,000. Finally, Rational Advisors LLC lifted its stake in Kroger by 6,326.9% in the fourth quarter. Rational Advisors LLC now owns 1,671 shares of the company’s stock valued at $46,000 after buying an additional 1,645 shares in the last quarter. 80.27% of the stock is currently owned by institutional investors.
A number of research analysts have weighed in on KR shares. Zacks Investment Research raised shares of Kroger from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Tuesday, February 5th. Scotiabank set a $32.00 price target on shares of Kroger and gave the company a “buy” rating in a research note on Friday, March 8th. Bank of America reaffirmed a “buy” rating and issued a $37.00 price target (up previously from $35.00) on shares of Kroger in a research note on Friday, December 7th. Morgan Stanley cut their price target on shares of Kroger from $27.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Friday, March 8th. Finally, Loop Capital set a $30.00 price target on shares of Kroger and gave the company a “hold” rating in a research note on Friday, December 7th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $30.53.
In other Kroger news, insider J Michael Schlotman sold 20,546 shares of Kroger stock in a transaction on Tuesday, December 18th. The shares were sold at an average price of $28.86, for a total transaction of $592,957.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher T. Hjelm sold 18,564 shares of Kroger stock in a transaction on Friday, December 21st. The stock was sold at an average price of $28.25, for a total transaction of $524,433.00. Following the transaction, the insider now directly owns 262,727 shares of the company’s stock, valued at $7,422,037.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 115,188 shares of company stock valued at $3,202,992. Company insiders own 1.07% of the company’s stock.
Shares of KR opened at $24.73 on Thursday. The firm has a market cap of $19.39 billion, a P/E ratio of 12.12, a PEG ratio of 1.85 and a beta of 0.73. Kroger Co has a 1-year low of $23.05 and a 1-year high of $32.74. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.25 and a current ratio of 0.73.
Kroger (NYSE:KR) last issued its earnings results on Thursday, March 7th. The company reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.03). Kroger had a return on equity of 26.64% and a net margin of 2.99%. The firm had revenue of $28.09 billion for the quarter, compared to analyst estimates of $28.38 billion. During the same quarter in the previous year, the firm posted $0.63 earnings per share. Kroger’s quarterly revenue was down 9.5% on a year-over-year basis. On average, analysts predict that Kroger Co will post 2.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 15th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, February 14th. This represents a $0.56 dividend on an annualized basis and a yield of 2.26%. Kroger’s dividend payout ratio (DPR) is 27.45%.
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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