Selway Asset Management Invests $203,000 in Kroger Co (KR)

Selway Asset Management acquired a new stake in Kroger Co (NYSE:KR) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,975 shares of the company’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds have also modified their holdings of KR. Landaas & Co. WI ADV bought a new stake in Kroger during the second quarter worth about $100,000. CSat Investment Advisory L.P. bought a new stake in Kroger during the second quarter worth about $109,000. Bridgeworth LLC bought a new stake in Kroger during the second quarter worth about $109,000. Creative Financial Designs Inc. ADV raised its holdings in Kroger by 100.2% during the second quarter. Creative Financial Designs Inc. ADV now owns 5,170 shares of the company’s stock worth $147,000 after acquiring an additional 2,587 shares in the last quarter. Finally, First Hawaiian Bank bought a new stake in Kroger during the third quarter worth about $148,000. Hedge funds and other institutional investors own 80.08% of the company’s stock.

In other Kroger news, insider Erin S. Sharp sold 25,314 shares of Kroger stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $29.00, for a total transaction of $734,106.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Calvin J. Kaufman sold 10,500 shares of Kroger stock in a transaction dated Thursday, October 11th. The shares were sold at an average price of $27.47, for a total value of $288,435.00. Following the transaction, the senior vice president now owns 124,688 shares of the company’s stock, valued at approximately $3,425,179.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,425 shares of company stock valued at $1,480,298. Company insiders own 1.07% of the company’s stock.

Shares of KR traded down $0.06 during trading hours on Thursday, reaching $29.53. The stock had a trading volume of 4,690,315 shares, compared to its average volume of 8,221,143. The stock has a market capitalization of $23.60 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 2.07 and a beta of 0.77. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.26 and a current ratio of 0.73. Kroger Co has a 12 month low of $22.82 and a 12 month high of $32.74.

Kroger (NYSE:KR) last announced its earnings results on Thursday, September 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.03. The business had revenue of $27.87 billion during the quarter, compared to analyst estimates of $27.95 billion. Kroger had a return on equity of 28.05% and a net margin of 3.05%. Kroger’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the company earned $0.39 EPS. As a group, equities analysts forecast that Kroger Co will post 2.13 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Thursday, November 15th will be issued a dividend of $0.14 per share. The ex-dividend date is Wednesday, November 14th. This represents a $0.56 dividend on an annualized basis and a yield of 1.90%. Kroger’s payout ratio is currently 27.45%.

Several analysts recently issued reports on KR shares. Zacks Investment Research lowered Kroger from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Stephens set a $29.00 price objective on Kroger and gave the company a “hold” rating in a research note on Friday, September 7th. Credit Suisse Group set a $33.00 target price on Kroger and gave the company a “hold” rating in a research report on Friday, September 7th. Wells Fargo & Co upped their target price on Kroger from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Monday, September 10th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating on shares of Kroger in a research report on Thursday, September 13th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $30.84.

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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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