Intrust Bank NA Grows Stake in Kroger Co (KR)

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Intrust Bank NA lifted its position in shares of Kroger Co (NYSE:KR) by 8.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,321 shares of the company’s stock after buying an additional 2,525 shares during the quarter. Intrust Bank NA’s holdings in Kroger were worth $891,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Evanston Investments Inc. dba Evanston Advisors grew its holdings in Kroger by 4.2% in the 2nd quarter. Evanston Investments Inc. dba Evanston Advisors now owns 332,237 shares of the company’s stock valued at $9,452,000 after buying an additional 13,514 shares during the period. Minneapolis Portfolio Management Group LLC grew its holdings in Kroger by 0.9% in the 2nd quarter. Minneapolis Portfolio Management Group LLC now owns 1,838,780 shares of the company’s stock valued at $52,313,000 after buying an additional 17,270 shares during the period. Pinnacle Associates Ltd. grew its holdings in Kroger by 4.6% in the 2nd quarter. Pinnacle Associates Ltd. now owns 40,952 shares of the company’s stock valued at $1,165,000 after buying an additional 1,800 shares during the period. People s United Financial Inc. purchased a new stake in shares of Kroger during the 2nd quarter worth about $225,000. Finally, Contrarius Investment Management Ltd purchased a new stake in shares of Kroger during the 2nd quarter worth about $5,402,000. Hedge funds and other institutional investors own 81.89% of the company’s stock.

KR has been the subject of a number of research reports. TheStreet upgraded Kroger from a “c+” rating to a “b” rating in a report on Friday, June 29th. Credit Suisse Group set a $30.00 target price on Kroger and gave the stock a “buy” rating in a report on Thursday, May 24th. Bank of America upgraded Kroger from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $28.00 to $33.00 in a report on Thursday, May 17th. Jefferies Financial Group boosted their target price on Kroger from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, June 22nd. Finally, Citigroup reiterated a “buy” rating and set a $34.00 target price on shares of Kroger in a report on Tuesday, June 26th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $29.19.

Kroger stock opened at $31.35 on Friday. The company has a market cap of $24.01 billion, a P/E ratio of 15.37, a P/E/G ratio of 2.12 and a beta of 0.95. The company has a current ratio of 0.76, a quick ratio of 0.29 and a debt-to-equity ratio of 1.74. Kroger Co has a one year low of $19.69 and a one year high of $31.70.

Kroger (NYSE:KR) last released its quarterly earnings results on Thursday, June 21st. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.63 by $0.10. The firm had revenue of $37.53 billion for the quarter, compared to analyst estimates of $37.25 billion. Kroger had a return on equity of 29.59% and a net margin of 2.93%. Kroger’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.58 EPS. sell-side analysts expect that Kroger Co will post 2.12 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, September 1st. Investors of record on Wednesday, August 15th will be given a dividend of $0.14 per share. The ex-dividend date is Tuesday, August 14th. This is a positive change from Kroger’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a yield of 1.79%. Kroger’s payout ratio is 27.45%.

In related news, Director Susan J. Kropf sold 13,000 shares of the business’s stock in a transaction that occurred on Thursday, July 19th. The stock was sold at an average price of $28.43, for a total transaction of $369,590.00. Following the transaction, the director now directly owns 101,171 shares of the company’s stock, valued at approximately $2,876,291.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Carin L. Fike sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 3rd. The stock was sold at an average price of $28.76, for a total value of $115,040.00. Following the transaction, the vice president now directly owns 29,361 shares in the company, valued at $844,422.36. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

Kroger Profile

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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