Gulf International Bank UK Ltd Cuts Stock Position in The Kroger Co. (NYSE:KR)

Gulf International Bank UK Ltd cut its holdings in The Kroger Co. (NYSE:KR) by 4.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,955 shares of the company’s stock after selling 2,514 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Kroger were worth $3,091,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in shares of Kroger by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 13,591,402 shares of the company’s stock valued at $678,562,000 after buying an additional 723,771 shares in the last quarter. Legal & General Group Plc increased its position in shares of Kroger by 13.4% during the second quarter. Legal & General Group Plc now owns 7,759,992 shares of the company’s stock worth $387,456,000 after purchasing an additional 917,923 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Kroger by 96.6% during the second quarter. Point72 Asset Management L.P. now owns 5,381,311 shares of the company’s stock worth $268,689,000 after purchasing an additional 2,643,811 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Kroger by 8.4% during the second quarter. AQR Capital Management LLC now owns 5,279,429 shares of the company’s stock worth $261,543,000 after purchasing an additional 407,690 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Kroger by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 4,610,646 shares of the company’s stock worth $230,210,000 after purchasing an additional 11,541 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Kroger Stock Performance

Shares of Kroger stock opened at $59.80 on Thursday. The Kroger Co. has a 52 week low of $42.10 and a 52 week high of $59.92. The business’s fifty day simple moving average is $55.52 and its 200-day simple moving average is $53.94. The firm has a market cap of $43.26 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 0.87 and a beta of 0.48. The company has a quick ratio of 0.46, a current ratio of 0.87 and a debt-to-equity ratio of 0.96.

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

Kroger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a $0.32 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.28 annualized dividend and a dividend yield of 2.14%. Kroger’s dividend payout ratio is presently 33.51%.

Insider Activity at Kroger

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

Wall Street Analyst Weigh In

KR has been the subject of several research reports. Melius Research initiated coverage on Kroger in a research report on Monday, September 23rd. They set a “hold” rating and a $55.00 price target for the company. Telsey Advisory Group reiterated an “outperform” rating and set a $62.00 price target on shares of Kroger in a research report on Wednesday, October 9th. Argus boosted their price target on Kroger from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Evercore ISI boosted their price objective on Kroger from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. Finally, Morgan Stanley boosted their price objective on Kroger from $57.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $60.09.

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.