Fiduciary Family Office LLC Makes New $2.37 Million Investment in The Kroger Co. (NYSE:KR)
Fiduciary Family Office LLC has made a new investment of approximately $2.37 million in The Kroger Co. (NYSE:KR), acquiring 35,052 shares during the first quarter. This investment represents about 0.8% of their portfolio, making Kroger their 21st largest position. Other institutional investors have also increased their stakes in Kroger, which is currently rated as a 'Hold' by analysts with a consensus target price of $70.16. Kroger's stock opened at $74.22, with a market cap of $49.05 billion and a P/E ratio of 20.22.
Fiduciary Family Office LLC acquired a new position in shares of The Kroger Co. (NYSE:KR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 35,052 shares of the company's stock, valued at approximately $2,373,000. Kroger makes up about 0.8% of Fiduciary Family Office LLC's investment portfolio, making the stock its 21st biggest position.
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Other hedge funds and other institutional investors also recently modified their holdings of the company. Steadfast Capital Management LP purchased a new stake in shares of Kroger during the fourth quarter worth about $277,989,000. Junto Capital Management LP purchased a new stake in shares of Kroger during the fourth quarter worth about $264,207,000. Alyeska Investment Group L.P. purchased a new stake in shares of Kroger during the fourth quarter worth about $123,829,000. GAMMA Investing LLC increased its position in shares of Kroger by 7,363.9% during the first quarter. GAMMA Investing LLC now owns 1,706,397 shares of the company's stock worth $115,506,000 after acquiring an additional 1,683,535 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its position in shares of Kroger by 1,045.0% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 1,562,600 shares of the company's stock worth $95,553,000 after acquiring an additional 1,426,131 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.
Insider Activity at Kroger
In other news, EVP Mary Ellen Adcock sold 34,250 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $71.16, for a total value of $2,437,230.00. Following the sale, the executive vice president directly owned 184,473 shares of the company's stock, valued at approximately $13,127,098.68. This trade represents a 15.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Yael Cosset sold 71,224 shares of the firm's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $73.49, for a total value of $5,234,251.76. Following the completion of the sale, the executive vice president directly owned 139,124 shares in the company, valued at approximately $10,224,222.76. This represents a 33.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 198,948 shares of company stock valued at $14,422,926. Insiders own 0.44% of the company's stock.
Wall Street Analyst Weigh In
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Several brokerages recently weighed in on KR. Wall Street Zen lowered Kroger from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. boosted their price objective on Kroger from $72.00 to $82.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Morgan Stanley set a $76.00 target price on Kroger and gave the company an "equal weight" rating in a research note on Monday, June 23rd. Jefferies Financial Group set a $83.00 target price on Kroger and gave the company a "buy" rating in a research note on Monday, June 23rd. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $82.00 target price (up from $73.00) on shares of Kroger in a research note on Friday, June 20th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Kroger presently has a consensus rating of "Hold" and an average target price of $70.16.
Read Our Latest Stock Analysis on KR
Kroger Price Performance
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KR opened at $74.22 on Friday. The stock has a fifty day moving average of $69.94 and a 200-day moving average of $67.85. The firm has a market capitalization of $49.05 billion, a P/E ratio of 20.22, a PEG ratio of 2.35 and a beta of 0.59. The Kroger Co. has a 12-month low of $50.69 and a 12-month high of $74.69. The company has a quick ratio of 0.53, a current ratio of 0.95 and a debt-to-equity ratio of 1.92.
Kroger (NYSE:KR - Get Free Report) last announced its quarterly earnings data on Friday, June 20th. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.04. Kroger had a return on equity of 34.71% and a net margin of 1.89%. The business had revenue of $45.12 billion during the quarter, compared to analyst estimates of $45.35 billion. During the same period last year, the company earned $1.43 earnings per share. Kroger's quarterly revenue was down .3% compared to the same quarter last year. Equities analysts forecast that The Kroger Co. will post 4.44 EPS for the current fiscal year.
Kroger Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.9%. This is an increase from Kroger's previous quarterly dividend of $0.32. The ex-dividend date is Friday, August 15th. Kroger's dividend payout ratio is 34.88%.
About Kroger
(Free Report)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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