M&G Plc acquired a new position in The Kroger Co. (NYSE:KR – Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 415,083 shares of the company’s stock, valued at approximately $23,660,000.
Several other institutional investors have also recently modified their holdings of the company. Sanders Capital LLC raised its position in Kroger by 5.0% in the 4th quarter. Sanders Capital LLC now owns 23,786,389 shares of the company’s stock worth $1,087,276,000 after purchasing an additional 1,123,427 shares during the period. Capital World Investors increased its holdings in shares of Kroger by 1.5% in the fourth quarter. Capital World Investors now owns 14,453,142 shares of the company’s stock worth $660,653,000 after buying an additional 214,852 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Kroger by 4.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,592,371 shares of the company’s stock valued at $575,546,000 after acquiring an additional 503,839 shares during the last quarter. Norges Bank purchased a new stake in Kroger during the 4th quarter valued at about $229,863,000. Finally, Charles Schwab Investment Management Inc. grew its position in Kroger by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,610,352 shares of the company’s stock worth $210,739,000 after acquiring an additional 118,209 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
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 owns 3,768 shares of the company’s stock, valued at approximately $214,889.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Kroger news, SVP Kenneth C. Kimball sold 30,251 shares of Kroger stock in a transaction on 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 sale, the senior vice president now owns 105,298 shares of the company’s stock, valued at approximately $5,894,582.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Carin L. Fike sold 3,929 shares of the business’s stock in a transaction on 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 owns 3,768 shares of the company’s stock, valued at approximately $214,889.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,796 shares of company stock worth $3,118,767. 1.40% of the stock is currently owned by company insiders.
Kroger Stock Down 0.5 %
Kroger (NYSE:KR – Get Free Report) last issued its quarterly earnings results on Thursday, June 20th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.10. The company had revenue of $45.27 billion for the quarter, compared to analysts’ expectations of $44.86 billion. Kroger had a return on equity of 29.89% and a net margin of 1.43%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.51 earnings per share. On average, equities research analysts predict that The Kroger Co. will post 4.45 EPS for the current year.
Kroger Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Thursday, August 15th will be given a dividend of $1.28 per share. This is a boost from Kroger’s previous quarterly dividend of $0.29. This represents a $5.12 dividend on an annualized basis and a yield of 9.39%. The ex-dividend date of this dividend is Thursday, August 15th. Kroger’s dividend payout ratio (DPR) is 39.59%.
Wall Street Analysts Forecast Growth
KR has been the subject of several recent research reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $62.00 price objective on shares of Kroger in a research report on Monday, June 17th. Wells Fargo & Company upgraded shares of Kroger from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $58.00 to $65.00 in a report on Tuesday, April 16th. JPMorgan Chase & Co. cut their price target on shares of Kroger from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. BNP Paribas reaffirmed an “underperform” rating and set a $48.00 price objective on shares of Kroger in a research note on Monday, April 8th. Finally, Morgan Stanley cut their target price on Kroger from $58.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.30.
Get Our Latest Research Report on KR
Kroger Profile
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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