Cheviot Value Management LLC Purchases Shares of 8,763 Kroger Co (KR)
Cheviot Value Management LLC purchased a new stake in Kroger Co (NYSE:KR) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 8,763 shares of the company’s stock, valued at approximately $249,000.
Several other institutional investors have also made changes to their positions in KR. Landaas & Co. WI ADV acquired a new position in Kroger during the 2nd quarter worth about $100,000. Creative Financial Designs Inc. ADV lifted its stake in Kroger by 100.2% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 5,170 shares of the company’s stock worth $147,000 after acquiring an additional 2,587 shares in the last quarter. Kiley Juergens Wealth Management LLC acquired a new position in Kroger during the 2nd quarter worth about $173,000. AdvisorNet Financial Inc lifted its stake in Kroger by 355.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 6,371 shares of the company’s stock worth $181,000 after acquiring an additional 4,971 shares in the last quarter. Finally, Buckingham Capital Management Inc. acquired a new position in Kroger during the 2nd quarter worth about $202,000. 78.75% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on KR shares. ValuEngine upgraded Kroger from a “sell” rating to a “hold” rating in a report on Saturday, June 16th. Northcoast Research restated a “buy” rating and set a $36.00 price target on shares of Kroger in a report on Monday, July 23rd. Wolfe Research downgraded Kroger from a “market perform” rating to an “underperform” rating in a report on Monday, June 25th. Bank of America upgraded Kroger from a “neutral” rating to a “buy” rating and upped their price target for the stock from $28.00 to $33.00 in a report on Thursday, May 17th. Finally, Morgan Stanley upped their price target on Kroger from $26.50 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, June 22nd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $29.38.
Kroger (NYSE:KR) last released its quarterly earnings data on Thursday, June 21st. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10. Kroger had a return on equity of 29.59% and a net margin of 2.93%. The business had revenue of $37.53 billion for the quarter, compared to the consensus estimate of $37.25 billion. During the same quarter in the prior year, the business posted $0.58 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. research analysts expect that Kroger Co will post 2.12 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 1st. Stockholders of record on Wednesday, August 15th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, August 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.80%. This is an increase from Kroger’s previous quarterly dividend of $0.13. Kroger’s dividend payout ratio is presently 27.45%.
In related news, Director Susan J. Kropf sold 13,000 shares of the company’s stock in a transaction dated Thursday, July 19th. The stock was sold at an average price of $28.43, for a total value of $369,590.00. Following the completion of the sale, the director now directly owns 101,171 shares of the company’s stock, valued at approximately $2,876,291.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Carin L. Fike sold 4,000 shares of the company’s stock in a transaction dated Tuesday, July 3rd. The shares were sold at an average price of $28.76, for a total value of $115,040.00. Following the completion of the sale, the vice president now directly owns 29,361 shares of the company’s stock, valued at $844,422.36. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company’s stock.
The Kroger Co, together with its subsidiaries, operates as a retailer in the United States. It also manufactures and processes food products for sale in its supermarkets. The company operates supermarkets, multi-department stores, jewelry stores, and convenience stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; multi-department stores provide general merchandise items, such as apparel, home fashion and furnishings, outdoor living, electronics, automotive products, toys, and fine jewelry; and price impact warehouse stores offer grocery, and health and beauty care items, as well as meat, dairy, baked goods, and fresh produce items.
Further Reading: Penny Stocks, Risk and Reward Factors
Want to see what other hedge funds are holding KR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kroger Co (NYSE:KR).
Receive News & Ratings for Kroger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kroger and related companies with MarketBeat.com's FREE daily email newsletter.