Sumitomo Mitsui Trust Holdings Inc. Increases Position in The Kroger Co. (NYSE:KR)

Sumitomo Mitsui Trust Holdings Inc. boosted its stake in The Kroger Co. (NYSE:KRFree Report) by 0.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,000,985 shares of the company’s stock after acquiring an additional 13,105 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.28% of Kroger worth $114,316,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC raised its stake in shares of Kroger by 101.6% during the first quarter. Hexagon Capital Partners LLC now owns 496 shares of the company’s stock worth $28,000 after purchasing an additional 250 shares during the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of Kroger in the 4th quarter worth $26,000. SouthState Corp boosted its holdings in shares of Kroger by 334.3% in the fourth quarter. SouthState Corp now owns 595 shares of the company’s stock valued at $27,000 after acquiring an additional 458 shares in the last quarter. Scarborough Advisors LLC acquired a new position in shares of Kroger during the fourth quarter worth about $28,000. Finally, VisionPoint Advisory Group LLC raised its holdings in Kroger by 370.1% during the third quarter. VisionPoint Advisory Group LLC now owns 630 shares of the company’s stock worth $28,000 after purchasing an additional 496 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Kroger Trading Up 0.7 %

Shares of KR opened at $50.76 on Thursday. The Kroger Co. has a fifty-two week low of $42.10 and a fifty-two week high of $58.34. The stock has a fifty day moving average of $52.83 and a two-hundred day moving average of $51.06. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.45 and a current ratio of 0.86. The company has a market capitalization of $36.64 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 0.78 and a beta of 0.45.

Kroger (NYSE:KRGet Free Report) last released its earnings results on Thursday, June 20th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.10. The firm had revenue of $45.27 billion for the quarter, compared to the consensus estimate of $44.86 billion. Kroger had a return on equity of 29.89% and a net margin of 1.43%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.51 earnings per share. As a group, analysts forecast that The Kroger Co. will post 4.45 EPS for the current year.

Kroger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th will be issued a $1.28 dividend. This represents a $5.12 dividend on an annualized basis and a dividend yield of 10.09%. The ex-dividend date is Thursday, August 15th. This is a positive change from Kroger’s previous quarterly dividend of $0.29. Kroger’s dividend payout ratio (DPR) is 39.59%.

Insider Activity

In related news, VP Carin L. Fike sold 3,929 shares of Kroger stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $57.03, for a total value of $224,070.87. Following the transaction, the vice president now owns 3,768 shares in the company, valued at $214,889.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Kroger news, SVP Kenneth C. Kimball sold 30,251 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $55.98, for a total value of $1,693,450.98. Following the transaction, the senior vice president now directly owns 105,298 shares of the company’s stock, valued at $5,894,582.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Carin L. Fike sold 3,929 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $57.03, for a total value of $224,070.87. Following the completion of the sale, the vice president now directly owns 3,768 shares of the company’s stock, valued at approximately $214,889.04. The disclosure for this sale can be found here. Insiders sold 55,796 shares of company stock valued at $3,118,767 in the last ninety days. Company insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

KR has been the topic of several recent analyst reports. Wolfe Research upgraded Kroger to a “strong-buy” rating in a research report on Friday, June 21st. Guggenheim increased their price objective on Kroger from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Morgan Stanley decreased their target price on shares of Kroger from $58.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Monday, June 24th. Wells Fargo & Company upgraded shares of Kroger from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $58.00 to $65.00 in a report on Tuesday, April 16th. Finally, BNP Paribas restated an “underperform” rating and set a $48.00 target price on shares of Kroger in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.30.

Get Our Latest Stock Report on Kroger

Kroger Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Kroger (NYSE:KR)

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