ClariVest Asset Management LLC Sells 409,265 Shares of Kroger Co. (KR)
ClariVest Asset Management LLC cut its position in Kroger Co. (NYSE:KR) by 54.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 342,835 shares of the company’s stock after selling 409,265 shares during the period. ClariVest Asset Management LLC’s holdings in Kroger were worth $12,613,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of KR. Physicians Financial Services Inc. boosted its position in shares of Kroger by 7,500.0% in the second quarter. Physicians Financial Services Inc. now owns 3,040 shares of the company’s stock worth $112,000 after buying an additional 3,000 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Kroger by 32.7% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,246 shares of the company’s stock worth $119,000 after buying an additional 800 shares during the last quarter. Integrated Investment Consultants LLC boosted its position in shares of Kroger by 2.8% in the second quarter. Integrated Investment Consultants LLC now owns 3,722 shares of the company’s stock worth $137,000 after buying an additional 100 shares during the last quarter. Barnett & Company Inc. acquired a new position in shares of Kroger during the first quarter worth approximately $145,000. Finally, Ledyard National Bank boosted its position in shares of Kroger by 16.2% in the second quarter. Ledyard National Bank now owns 4,300 shares of the company’s stock worth $158,000 after buying an additional 600 shares during the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.
Kroger Co. (NYSE:KR) traded up 1.84% during trading on Thursday, hitting $29.37. 17,278,489 shares of the company traded hands. The firm has a market cap of $27.73 billion, a price-to-earnings ratio of 13.93 and a beta of 0.70. The company’s 50-day moving average is $31.23 and its 200 day moving average is $34.69. Kroger Co. has a 52-week low of $28.71 and a 52-week high of $42.75.
Kroger (NYSE:KR) last issued its earnings results on Friday, September 9th. The company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The firm had revenue of $26.60 billion for the quarter. Kroger had a net margin of 1.82% and a return on equity of 32.52%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $0.44 EPS. On average, equities analysts anticipate that Kroger Co. will post $2.14 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.48 annualized dividend and a yield of 1.63%. Kroger’s dividend payout ratio (DPR) is 22.86%.
A number of brokerages have commented on KR. BMO Capital Markets set a $35.00 price objective on shares of Kroger and gave the stock a “hold” rating in a research note on Sunday, September 11th. Jefferies Group set a $32.00 price target on shares of Kroger and gave the stock a “hold” rating in a research note on Saturday, October 1st. Telsey Advisory Group dropped their price target on shares of Kroger from $46.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, September 12th. Citigroup Inc. dropped their price target on shares of Kroger from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, September 13th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and set a $37.00 price target on shares of Kroger in a research note on Friday, September 16th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $38.92.
In other Kroger news, insider Kevin M. Dougherty sold 31,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $31.05, for a total transaction of $962,550.00. Following the sale, the insider now owns 130,857 shares of the company’s stock, valued at $4,063,109.85. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Oflen Mary Elizabeth Van sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $37.85, for a total transaction of $454,200.00. Following the sale, the vice president now directly owns 82,349 shares in the company, valued at approximately $3,116,909.65. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by corporate insiders.
Kroger Company Profile
The Kroger Co (Kroger) operates retail food and drug stores, multi-department stores, jewelry stores and convenience stores across the United States. The Company also manufactures and processes food for sale in its supermarkets. It operates through retail operations segment. The Company operates, either directly or through its subsidiaries, approximately 2,778 retail food stores under a range of local banner names, approximately 1,387 of which have fuel centers.
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