Bowling Portfolio Management LLC Has $2.60 Million Stake in Kroger Co (KR)
Bowling Portfolio Management LLC lowered its position in Kroger Co (NYSE:KR) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,781 shares of the company’s stock after selling 2,348 shares during the period. Bowling Portfolio Management LLC’s holdings in Kroger were worth $2,602,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in KR. State Street Corp increased its holdings in Kroger by 0.3% during the second quarter. State Street Corp now owns 39,414,284 shares of the company’s stock worth $919,140,000 after buying an additional 100,796 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Kroger by 0.3% during the third quarter. Janus Henderson Group PLC now owns 8,281,641 shares of the company’s stock worth $166,129,000 after buying an additional 21,381 shares during the last quarter. Nordea Investment Management AB increased its holdings in Kroger by 2.0% during the third quarter. Nordea Investment Management AB now owns 7,404,636 shares of the company’s stock worth $148,537,000 after buying an additional 145,491 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Kroger by 5.3% during the third quarter. Principal Financial Group Inc. now owns 6,946,580 shares of the company’s stock worth $139,348,000 after buying an additional 350,316 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Kroger by 0.3% during the third quarter. Bank of New York Mellon Corp now owns 6,715,387 shares of the company’s stock worth $134,710,000 after buying an additional 18,468 shares during the last quarter. Institutional investors own 79.59% of the company’s stock.
KR has been the subject of a number of research reports. TheStreet upgraded shares of Kroger from a “c+” rating to a “b” rating in a research report on Wednesday, December 27th. Moffett Nathanson initiated coverage on shares of Kroger in a research report on Monday, December 4th. They set a “buy” rating for the company. Pivotal Research set a $30.00 target price on shares of Kroger and gave the stock a “buy” rating in a research report on Saturday, December 2nd. Northcoast Research upgraded shares of Kroger from a “neutral” rating to a “buy” rating in a research report on Monday, November 6th. Finally, Citigroup increased their target price on shares of Kroger from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, December 26th. Seventeen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $29.48.
Kroger (NYSE:KR) last released its quarterly earnings data on Thursday, November 30th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. Kroger had a net margin of 1.31% and a return on equity of 28.60%. The company had revenue of $27.75 billion during the quarter, compared to analyst estimates of $27.48 billion. During the same period last year, the business earned $0.41 earnings per share. Kroger’s revenue was up 4.5% compared to the same quarter last year. analysts predict that Kroger Co will post 2.04 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be given a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.69%. Kroger’s dividend payout ratio (DPR) is currently 29.76%.
In related news, COO Michael Joseph Donnelly sold 15,400 shares of the firm’s stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $27.66, for a total value of $425,964.00. Following the sale, the chief operating officer now directly owns 290,353 shares of the company’s stock, valued at $8,031,163.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Carin L. Fike sold 1,538 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $25.61, for a total transaction of $39,388.18. Following the completion of the sale, the vice president now directly owns 25,956 shares in the company, valued at $664,733.16. The disclosure for this sale can be found here. Insiders sold 58,868 shares of company stock valued at $1,607,426 over the last 90 days. 0.87% of the stock is owned by company insiders.
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The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.
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