Drake & Associates LLC Has $600,000 Position in The Kroger Co. (NYSE:KR)

Drake & Associates LLC raised its holdings in The Kroger Co. (NYSE:KR) by 12.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,470 shares of the company’s stock after buying an additional 1,142 shares during the period. Drake & Associates LLC’s holdings in Kroger were worth $600,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC increased its stake in Kroger by 255.6% in the 1st quarter. Valued Wealth Advisors LLC now owns 448 shares of the company’s stock valued at $26,000 after buying an additional 322 shares during the last quarter. Hexagon Capital Partners LLC increased its stake in shares of Kroger by 101.6% during the 1st quarter. Hexagon Capital Partners LLC now owns 496 shares of the company’s stock worth $28,000 after purchasing an additional 250 shares during the last quarter. Altshuler Shaham Ltd acquired a new position in shares of Kroger during the 2nd quarter worth about $28,000. Palisade Asset Management LLC acquired a new position in shares of Kroger during the 1st quarter worth about $29,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Kroger during the 1st quarter worth about $34,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Kroger Stock Performance

NYSE KR opened at $56.54 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.87 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $40.81 billion, a P/E ratio of 19.30, a P/E/G ratio of 0.87 and a beta of 0.47. The Kroger Co. has a 12-month low of $42.10 and a 12-month high of $58.34. The firm has a 50-day moving average price of $54.39 and a two-hundred day moving average price of $53.90.

Kroger (NYSE:KR) last posted its quarterly earnings data on Thursday, September 12th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The firm had revenue of $33.91 billion during the quarter, compared to the consensus estimate of $34.09 billion. Kroger had a net margin of 1.86% and a return on equity of 28.54%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 EPS. Analysts anticipate that The Kroger Co. will post 4.46 earnings per share for the current year.

Kroger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, November 15th. Kroger’s dividend payout ratio (DPR) is presently 43.69%.

Insider Transactions at Kroger

In other news, VP Brian W. Nichols sold 6,922 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $55.80, for a total transaction of $386,247.60. Following the completion of the sale, the vice president now owns 14,063 shares of the company’s stock, valued at approximately $784,715.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Carin L. Fike sold 3,010 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $55.57, for a total transaction of $167,265.70. Following the completion of the transaction, the vice president now directly owns 47,593 shares in the company, valued at $2,644,743.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian W. Nichols sold 6,922 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $55.80, for a total transaction of $386,247.60. Following the transaction, the vice president now owns 14,063 shares of the company’s stock, valued at approximately $784,715.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,932 shares of company stock valued at $721,243. Company insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on KR. Morgan Stanley boosted their price objective on shares of Kroger from $57.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. Argus boosted their price objective on shares of Kroger from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. lifted their target price on shares of Kroger from $58.00 to $59.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Evercore ISI lifted their target price on shares of Kroger from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. Finally, Wolfe Research raised shares of Kroger to a “strong-buy” rating in a report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Kroger currently has an average rating of “Moderate Buy” and an average price target of $59.36.

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.