Parsons Capital Management Inc. RI acquired a new stake in The Kroger Co. (NYSE:KR – Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,273 shares of the company’s stock, valued at approximately $301,000.
Other hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in shares of Kroger in the third quarter valued at approximately $25,000. Creekmur Asset Management LLC bought a new position in shares of Kroger during the fourth quarter worth approximately $26,000. SouthState Corp increased its stake in shares of Kroger by 334.3% during the fourth quarter. SouthState Corp now owns 595 shares of the company’s stock worth $27,000 after purchasing an additional 458 shares during the period. VisionPoint Advisory Group LLC increased its stake in shares of Kroger by 370.1% during the third quarter. VisionPoint Advisory Group LLC now owns 630 shares of the company’s stock worth $28,000 after purchasing an additional 496 shares during the period. Finally, Scarborough Advisors LLC bought a new position in shares of Kroger during the fourth quarter worth approximately $28,000. 80.93% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Kroger
In other Kroger news, SVP Kenneth C. Kimball sold 30,251 shares of Kroger stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $55.98, for a total transaction of $1,693,450.98. Following the transaction, the senior vice president now directly owns 105,298 shares of the company’s stock, valued at approximately $5,894,582.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Carin L. Fike sold 3,929 shares of Kroger stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $57.03, for a total value of $224,070.87. Following the completion of the transaction, the vice president now directly owns 3,768 shares of the company’s stock, valued at approximately $214,889.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Kenneth C. Kimball sold 30,251 shares of Kroger stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $55.98, for a total value of $1,693,450.98. Following the completion of the transaction, the senior vice president now directly owns 105,298 shares of the company’s stock, valued at $5,894,582.04. The disclosure for this sale can be found here. Insiders have sold a total of 49,180 shares of company stock valued at $2,750,322 in the last 90 days. 1.38% of the stock is owned by corporate insiders.
Kroger Price Performance
Kroger (NYSE:KR – Get Free Report) last issued its earnings results on Thursday, March 7th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.21. The firm had revenue of $37.06 billion for the quarter, compared to the consensus estimate of $37.07 billion. Kroger had a return on equity of 31.44% and a net margin of 1.44%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 EPS. Sell-side analysts forecast that The Kroger Co. will post 4.43 earnings per share for the current year.
Kroger Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Tuesday, May 14th. Kroger’s dividend payout ratio (DPR) is 39.19%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on KR shares. Guggenheim increased their target price on Kroger from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Evercore ISI lowered their target price on Kroger from $63.00 to $62.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 16th. Telsey Advisory Group restated an “outperform” rating and set a $62.00 price objective on shares of Kroger in a research note on Tuesday, April 23rd. BNP Paribas restated an “underperform” rating and set a $48.00 price objective on shares of Kroger in a research note on Monday, April 8th. Finally, Wells Fargo & Company upgraded Kroger from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $58.00 to $65.00 in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.17.
View Our Latest Analysis on KR
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.
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