Bank of Nova Scotia Decreases Holdings in The Kroger Co. (NYSE:KR)

Bank of Nova Scotia lowered its holdings in The Kroger Co. (NYSE:KRGet Rating) by 87.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 62,150 shares of the company’s stock after selling 445,369 shares during the quarter. Bank of Nova Scotia’s holdings in Kroger were worth $2,942,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Kroger by 2.6% during the first quarter. Vanguard Group Inc. now owns 81,040,589 shares of the company’s stock worth $4,649,299,000 after purchasing an additional 2,062,188 shares during the last quarter. State Street Corp boosted its stake in Kroger by 1.6% during the 1st quarter. State Street Corp now owns 37,777,178 shares of the company’s stock worth $2,167,277,000 after purchasing an additional 590,838 shares during the period. Capital World Investors grew its position in Kroger by 8.7% during the 1st quarter. Capital World Investors now owns 17,022,070 shares of the company’s stock worth $976,556,000 after purchasing an additional 1,355,600 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Kroger by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 5,985,874 shares of the company’s stock valued at $343,408,000 after buying an additional 20,085 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Kroger by 2.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,437,037 shares of the company’s stock worth $254,553,000 after buying an additional 118,720 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Kroger Trading Up 2.0 %

Kroger stock opened at $47.83 on Thursday. The stock has a market cap of $34.24 billion, a PE ratio of 14.54, a P/E/G ratio of 0.99 and a beta of 0.52. The company has a current ratio of 0.72, a quick ratio of 0.28 and a debt-to-equity ratio of 1.30. The stock has a 50-day moving average price of $45.94 and a 200 day moving average price of $48.15. The Kroger Co. has a 52 week low of $40.18 and a 52 week high of $62.78.

Kroger (NYSE:KRGet Rating) last posted its quarterly earnings data on Friday, September 9th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.06. Kroger had a net margin of 1.70% and a return on equity of 31.72%. The business had revenue of $34.64 billion during the quarter, compared to analyst estimates of $34.44 billion. During the same quarter in the previous year, the business posted $0.80 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. Equities research analysts predict that The Kroger Co. will post 4.06 earnings per share for the current fiscal year.

Kroger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be given a dividend of $0.26 per share. The ex-dividend date is Monday, November 14th. This represents a $1.04 annualized dividend and a yield of 2.17%. Kroger’s dividend payout ratio (DPR) is presently 31.61%.

Analyst Upgrades and Downgrades

Several research firms have commented on KR. Northcoast Research downgraded Kroger from a “buy” rating to a “neutral” rating in a research note on Monday, October 17th. UBS Group lifted their price objective on shares of Kroger to $57.00 in a research report on Tuesday, September 13th. StockNews.com began coverage on shares of Kroger in a research note on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Guggenheim dropped their price target on shares of Kroger to $50.00 in a research note on Thursday, October 20th. Finally, Evercore ISI upgraded shares of Kroger from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $49.00 to $56.00 in a research report on Wednesday, November 9th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Kroger has a consensus rating of “Hold” and a consensus price target of $51.74.

Kroger Profile

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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.

Further Reading

Institutional Ownership by Quarter for Kroger (NYSE:KR)

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