Bristol Gate Capital Partners Inc. Has $27,295,000 Position in Kroger Co. (KR)
Bristol Gate Capital Partners Inc. boosted its position in shares of Kroger Co. (NYSE:KR) by 10.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 741,903 shares of the company’s stock after buying an additional 68,144 shares during the period. Kroger makes up approximately 4.9% of Bristol Gate Capital Partners Inc.’s holdings, making the stock its 7th largest position. Bristol Gate Capital Partners Inc. owned about 0.08% of Kroger worth $27,295,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of KR. Bank of Montreal Can purchased a new position in Kroger during the second quarter worth $235,225,000. Nordea Investment Management AB increased its position in Kroger by 365.3% in the second quarter. Nordea Investment Management AB now owns 6,121,963 shares of the company’s stock worth $225,227,000 after buying an additional 4,806,246 shares in the last quarter. Hexavest Inc. increased its position in Kroger by 5,927.6% in the second quarter. Hexavest Inc. now owns 1,356,516 shares of the company’s stock worth $49,906,000 after buying an additional 1,334,011 shares in the last quarter. Marsico Capital Management LLC increased its position in Kroger by 163.6% in the first quarter. Marsico Capital Management LLC now owns 1,820,351 shares of the company’s stock worth $69,628,000 after buying an additional 1,129,894 shares in the last quarter. Finally, State Street Corp increased its position in Kroger by 2.5% in the first quarter. State Street Corp now owns 40,607,212 shares of the company’s stock worth $1,553,228,000 after buying an additional 1,002,625 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors.
Kroger (NYSE:KR) last issued its quarterly earnings results on Friday, September 9th. The company reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.02. Kroger had a return on equity of 32.52% and a net margin of 1.82%. The company earned $26.60 billion during the quarter. During the same period in the prior year, the firm posted $0.44 EPS. The business’s revenue was up 4.0% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders 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 dividend yield of 1.57%. Kroger’s dividend payout ratio (DPR) is presently 22.86%.
A number of analysts have commented on KR shares. BMO Capital Markets cut Kroger from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $34.01 to $35.00 in a research report on Tuesday, August 2nd. Royal Bank Of Canada reduced their price target on Kroger from $39.00 to $37.00 and set a “sector perform” rating for the company in a research report on Wednesday, September 7th. Zacks Investment Research cut Kroger from a “hold” rating to a “sell” rating in a research report on Tuesday, August 30th. Citigroup Inc. reduced their price target on Kroger from $44.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, August 29th. Finally, Vetr cut Kroger from a “strong-buy” rating to a “buy” rating and set a $33.25 price target for the company. in a research report on Tuesday, October 11th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $38.66.
In other news, insider Kevin M. Dougherty sold 31,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $31.05, for a total value of $962,550.00. Following the completion of the transaction, the insider now owns 130,857 shares of the company’s stock, valued at approximately $4,063,109.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.85% of the stock is owned by 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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