Hennessy Advisors Inc. Has $1.38 Million Holdings in Kroger Company (The) (KR)
Hennessy Advisors Inc. lowered its position in shares of Kroger Company (The) (NYSE:KR) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,300 shares of the company’s stock after selling 4,500 shares during the quarter. Hennessy Advisors Inc.’s holdings in Kroger Company (The) were worth $1,383,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. raised its position in Kroger Company (The) by 3,334.2% during the 1st quarter. BlackRock Inc. now owns 72,026,662 shares of the company’s stock worth $2,124,067,000 after buying an additional 69,929,316 shares during the last quarter. Vanguard Group Inc. raised its position in Kroger Company (The) by 15.3% during the 1st quarter. Vanguard Group Inc. now owns 68,348,907 shares of the company’s stock worth $2,015,609,000 after buying an additional 9,054,273 shares during the last quarter. FMR LLC raised its position in Kroger Company (The) by 54.1% during the 1st quarter. FMR LLC now owns 41,963,267 shares of the company’s stock worth $1,237,497,000 after buying an additional 14,723,540 shares during the last quarter. State Street Corp raised its position in Kroger Company (The) by 0.7% during the 1st quarter. State Street Corp now owns 39,313,488 shares of the company’s stock worth $1,159,353,000 after buying an additional 288,686 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Kroger Company (The) by 8.2% during the 2nd quarter. Franklin Resources Inc. now owns 12,045,681 shares of the company’s stock worth $280,904,000 after purchasing an additional 908,078 shares during the period. Institutional investors own 74.63% of the company’s stock.
In other Kroger Company (The) news, insider J Michael Schlotman bought 2,000 shares of the stock in a transaction on Monday, June 26th. The shares were bought at an average price of $22.73 per share, with a total value of $45,460.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Susan M. Phillips sold 6,200 shares of Kroger Company (The) stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $21.17, for a total value of $131,254.00. Following the transaction, the director now directly owns 124,105 shares in the company, valued at approximately $2,627,302.85. The disclosure for this sale can be found here. Company insiders own 0.87% of the company’s stock.
KR has been the topic of a number of recent analyst reports. Royal Bank Of Canada set a $34.00 price target on shares of Kroger Company (The) and gave the stock a “buy” rating in a research note on Monday, August 28th. Zacks Investment Research cut shares of Kroger Company (The) from a “hold” rating to a “sell” rating in a research note on Tuesday, August 29th. Oppenheimer Holdings, Inc. cut shares of Kroger Company (The) to a “market perform” rating and lowered their price target for the stock from $28.00 to $23.00 in a research note on Friday. Jefferies Group LLC reaffirmed a “hold” rating on shares of Kroger Company (The) in a research note on Friday, August 25th. Finally, Deutsche Bank AG set a $26.00 price target on shares of Kroger Company (The) and gave the stock a “buy” rating in a research note on Monday, June 19th. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $28.58.
Shares of Kroger Company (KR) opened at 21.34 on Tuesday. Kroger Company has a 1-year low of $20.41 and a 1-year high of $36.44. The firm has a market capitalization of $19.15 billion, a PE ratio of 12.85 and a beta of 0.79. The firm’s 50 day moving average is $23.12 and its 200 day moving average is $26.76.
Kroger Company (The) (NYSE:KR) last issued its quarterly earnings results on Friday, September 8th. The company reported $0.39 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.39. The firm had revenue of $27.60 billion for the quarter, compared to analysts’ expectations of $27.48 billion. Kroger Company (The) had a return on equity of 28.04% and a net margin of 1.32%. Kroger Company (The)’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $0.47 EPS. Analysts anticipate that Kroger Company will post $1.98 EPS for the current fiscal year.
Kroger Company (The) declared that its board has authorized a stock buyback plan on Thursday, June 22nd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 4.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were paid a $0.125 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.50 dividend on an annualized basis and a yield of 2.34%. This is a boost from Kroger Company (The)’s previous quarterly dividend of $0.12. Kroger Company (The)’s dividend payout ratio (DPR) is currently 30.30%.
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Kroger Company (The) Company Profile
The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.
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