Gabelli Funds LLC Increases Stake in Kroger Co (KR)

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Gabelli Funds LLC increased its holdings in Kroger Co (NYSE:KR) by 4.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 223,000 shares of the company’s stock after purchasing an additional 10,000 shares during the period. Gabelli Funds LLC’s holdings in Kroger were worth $6,344,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Daiwa Securities Group Inc. boosted its position in Kroger by 8.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 28,856 shares of the company’s stock valued at $691,000 after buying an additional 2,128 shares during the period. SG Americas Securities LLC boosted its position in Kroger by 4.0% during the 1st quarter. SG Americas Securities LLC now owns 151,680 shares of the company’s stock valued at $3,631,000 after buying an additional 5,797 shares during the period. Mackay Shields LLC purchased a new stake in Kroger during the 1st quarter valued at $5,342,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Kroger by 29.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 258,779 shares of the company’s stock valued at $6,195,000 after buying an additional 59,496 shares during the period. Finally, Boston Partners boosted its position in Kroger by 69.4% during the 1st quarter. Boston Partners now owns 355,669 shares of the company’s stock valued at $8,515,000 after buying an additional 145,670 shares during the period. 78.75% of the stock is owned by institutional investors.

Shares of NYSE KR opened at $31.96 on Thursday. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.76 and a quick ratio of 0.29. Kroger Co has a 12 month low of $19.69 and a 12 month high of $32.40. The firm has a market capitalization of $25.10 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 2.21 and a beta of 0.94.

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

The firm also recently declared a quarterly dividend, which was paid on Saturday, September 1st. Investors of record on Wednesday, August 15th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.75%. This is a positive change from Kroger’s previous quarterly dividend of $0.13. The ex-dividend date was Tuesday, August 14th. Kroger’s dividend payout ratio (DPR) is presently 27.45%.

Several brokerages have weighed in on KR. MED began coverage on shares of Kroger in a research report on Monday, July 2nd. They set a “hold” rating and a $30.00 price target for the company. They noted that the move was a valuation call. Citigroup reissued a “buy” rating and set a $34.00 price target on shares of Kroger in a research report on Tuesday, June 26th. Pivotal Research cut shares of Kroger from a “buy” rating to a “hold” rating and increased their price target for the company from $30.00 to $31.00 in a research report on Monday, June 25th. Jefferies Financial Group increased their price target on shares of Kroger from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, June 22nd. Finally, Wolfe Research lowered shares of Kroger from a “market perform” rating to an “underperform” rating in a report on Monday, June 25th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company. Kroger currently has an average rating of “Hold” and an average price target of $29.38.

In related news, VP Carin L. Fike sold 4,000 shares of the stock in a transaction dated Tuesday, July 3rd. The shares were sold at an average price of $28.76, for a total value of $115,040.00. Following the completion of the transaction, the vice president now directly owns 29,361 shares in the company, valued at approximately $844,422.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan J. Kropf sold 13,000 shares of the stock in a transaction dated Thursday, July 19th. The stock was sold at an average price of $28.43, for a total transaction of $369,590.00. Following the completion of the transaction, the director now owns 101,171 shares of the company’s stock, valued at $2,876,291.53. The disclosure for this sale can be found here. 1.07% of the stock is owned by company insiders.

Kroger Company 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.

Further Reading: NASDAQ Stock Market Explained

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Institutional Ownership by Quarter for Kroger (NYSE:KR)

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