Lord Abbett & CO. LLC Makes New $29.31 Million Investment in The Kroger Co. (NYSE:KR)

Lord Abbett & CO. LLC bought a new position in The Kroger Co. (NYSE:KR) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 725,000 shares of the company’s stock, valued at approximately $29,312,000. Lord Abbett & CO. LLC owned about 0.10% of Kroger as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of KR. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Kroger by 5.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 133,867 shares of the company’s stock worth $5,128,000 after buying an additional 6,560 shares during the last quarter. Rafferty Asset Management LLC grew its holdings in Kroger by 24.0% during the 2nd quarter. Rafferty Asset Management LLC now owns 26,140 shares of the company’s stock valued at $1,001,000 after purchasing an additional 5,052 shares during the last quarter. Atria Investments LLC grew its holdings in Kroger by 9.0% during the 2nd quarter. Atria Investments LLC now owns 37,818 shares of the company’s stock valued at $1,449,000 after purchasing an additional 3,112 shares during the last quarter. Van ECK Associates Corp grew its holdings in Kroger by 19.9% during the 2nd quarter. Van ECK Associates Corp now owns 136,199 shares of the company’s stock valued at $5,218,000 after purchasing an additional 22,618 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in Kroger by 8.7% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 91,366 shares of the company’s stock valued at $3,500,000 after purchasing an additional 7,334 shares during the last quarter. Hedge funds and other institutional investors own 80.64% of the company’s stock.

KR opened at $49.12 on Friday. The firm has a market cap of $36.12 billion, a price-to-earnings ratio of 36.93, a PEG ratio of 1.69 and a beta of 0.44. The company has a current ratio of 0.80, a quick ratio of 0.35 and a debt-to-equity ratio of 1.34. The Kroger Co. has a 12 month low of $32.00 and a 12 month high of $50.15. The stock has a fifty day moving average price of $44.25 and a 200-day moving average price of $42.37.

Kroger (NYSE:KR) last announced its earnings results on Thursday, December 2nd. The company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.11. Kroger had a return on equity of 29.28% and a net margin of 0.75%. The firm had revenue of $31.86 billion for the quarter, compared to the consensus estimate of $31.22 billion. During the same period in the previous year, the business earned $0.71 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts forecast that The Kroger Co. will post 3.49 EPS for the current year.

Several brokerages recently commented on KR. Morgan Stanley upped their price target on shares of Kroger from $37.00 to $38.00 and gave the company an “underweight” rating in a report on Tuesday, December 14th. Telsey Advisory Group boosted their price target on Kroger from $45.00 to $47.00 and gave the company a “market perform” rating in a report on Friday, December 3rd. Citigroup raised their price objective on Kroger from $43.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, December 3rd. Credit Suisse Group lifted their target price on Kroger from $40.00 to $47.00 and gave the company a “neutral” rating in a research report on Friday, December 3rd. Finally, Barclays lifted their target price on Kroger from $37.00 to $38.00 and gave the company an “underweight” rating in a research report on Friday, December 3rd. Four analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $43.50.

In other Kroger news, SVP Stuart Aitken sold 20,000 shares of the business’s stock in a transaction dated Thursday, December 16th. The stock was sold at an average price of $46.01, for a total transaction of $920,200.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Calvin J. Kaufman sold 16,288 shares of the business’s stock in a transaction dated Tuesday, December 28th. The shares were sold at an average price of $44.25, for a total value of $720,744.00. The disclosure for this sale can be found here. 1.35% of the stock is owned by insiders.

Kroger Profile

The Kroger Co engages in the operation of supermarkets and multi-department stores. Its brands include Big K, Check This Out…, Heritage Farm, Simple Truth, and Simple Truth Organic. The company was founded by Barney Kroger in 1883 and is headquartered in Cincinnati, OH.

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Institutional Ownership by Quarter for Kroger (NYSE:KR)

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