Sei Investments Co. trimmed its stake in shares of The Kroger Co. (NYSE:KR – Get Rating) by 4.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 663,769 shares of the company’s stock after selling 34,333 shares during the quarter. Sei Investments Co. owned about 0.09% of Kroger worth $38,103,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Key Financial Inc boosted its position in shares of Kroger by 81.6% in the first quarter. Key Financial Inc now owns 445 shares of the company’s stock valued at $26,000 after acquiring an additional 200 shares during the period. Hoey Investments Inc. bought a new stake in shares of Kroger in the first quarter valued at about $29,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Kroger in the first quarter valued at about $29,000. JFS Wealth Advisors LLC boosted its position in shares of Kroger by 179.5% in the first quarter. JFS Wealth Advisors LLC now owns 531 shares of the company’s stock valued at $30,000 after acquiring an additional 341 shares during the period. Finally, Okabena Investment Services Inc. bought a new stake in shares of Kroger in the fourth quarter valued at about $34,000. 79.05% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on KR shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Kroger from $50.00 to $53.00 in a research report on Friday, June 17th. Credit Suisse Group cut their price objective on shares of Kroger from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday. Evercore ISI reaffirmed a “hold” rating and set a $54.00 price objective on shares of Kroger in a research report on Friday, June 17th. Oppenheimer cut their price objective on shares of Kroger to $51.00 in a research report on Tuesday. Finally, Guggenheim reaffirmed a “buy” rating and set a $57.00 price objective on shares of Kroger in a research report on Friday, June 17th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $52.22.
Kroger Stock Performance
Kroger (NYSE:KR – Get Rating) last released its quarterly earnings data on Thursday, June 16th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.17. Kroger had a return on equity of 31.50% and a net margin of 1.54%. The company had revenue of $44.60 billion during the quarter, compared to the consensus estimate of $44.23 billion. During the same quarter in the prior year, the firm posted $1.19 earnings per share. On average, equities research analysts predict that The Kroger Co. will post 3.94 earnings per share for the current year.
Kroger Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were paid a $0.26 dividend. The ex-dividend date was Friday, August 12th. This represents a $1.04 annualized dividend and a dividend yield of 2.15%. This is an increase from Kroger’s previous quarterly dividend of $0.21. Kroger’s dividend payout ratio is currently 35.86%.
The Kroger Co operates as a 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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