RWC Asset Management LLP Buys 538,429 Shares of Kroger Co (KR)
RWC Asset Management LLP raised its stake in shares of Kroger Co (NYSE:KR) by 38.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,942,772 shares of the company’s stock after buying an additional 538,429 shares during the quarter. Kroger accounts for about 2.8% of RWC Asset Management LLP’s holdings, making the stock its 4th biggest position. RWC Asset Management LLP’s holdings in Kroger were worth $53,329,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently made changes to their positions in KR. Howe & Rusling Inc. purchased a new position in Kroger during the third quarter valued at $103,000. Bessemer Group Inc. raised its stake in Kroger by 97.2% during the fourth quarter. Bessemer Group Inc. now owns 4,980 shares of the company’s stock valued at $136,000 after buying an additional 2,455 shares during the last quarter. Archford Capital Strategies LLC raised its stake in Kroger by 38,135.3% during the second quarter. Archford Capital Strategies LLC now owns 13,000 shares of the company’s stock valued at $139,000 after buying an additional 12,966 shares during the last quarter. Gradient Investments LLC purchased a new position in Kroger during the fourth quarter valued at $152,000. Finally, Clear Perspective Advisors LLC purchased a new position in Kroger during the third quarter valued at $160,000. Institutional investors and hedge funds own 80.55% of the company’s stock.
In other Kroger news, insider Christopher T. Hjelm sold 8,000 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $30.64, for a total transaction of $245,120.00. Following the completion of the sale, the insider now owns 251,784 shares of the company’s stock, valued at $7,714,661.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael Joseph Donnelly sold 40,000 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $30.64, for a total value of $1,225,600.00. Following the sale, the vice president now directly owns 319,124 shares of the company’s stock, valued at approximately $9,777,959.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 117,868 shares of company stock valued at $3,403,416. 0.87% of the stock is owned by company insiders.
Kroger (NYSE:KR) last posted 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. The company had revenue of $27.75 billion during the quarter, compared to analysts’ expectations of $27.48 billion. Kroger had a return on equity of 28.60% and a net margin of 1.31%. Kroger’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 earnings per share. equities analysts forecast that Kroger Co will post 2.04 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Wednesday, February 14th. Kroger’s dividend payout ratio (DPR) is presently 29.76%.
KR has been the subject of a number of recent research reports. Zacks Investment Research cut Kroger from a “hold” rating to a “strong sell” rating in a research note on Monday, October 16th. Wells Fargo & Co restated an “outperform” rating and issued a $26.00 price target on shares of Kroger in a research note on Friday, November 3rd. Northcoast Research upgraded Kroger from a “neutral” rating to a “buy” rating in a research note on Monday, November 6th. Goldman Sachs Group restated a “neutral” rating and issued a $22.00 price target on shares of Kroger in a research note on Tuesday, November 14th. Finally, Telsey Advisory Group boosted their price target on Kroger from $24.00 to $28.00 and gave the stock a “market perform” rating in a research note on Friday, December 1st. Seventeen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $29.52.
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Kroger Company Profile
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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