J.W. Cole Advisors Inc. Reduces Stake in The Kroger Co. $KR

J.W. Cole Advisors Inc. reduced its stake in The Kroger Co. (NYSE:KR) by 30.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 24,629 shares of the company’s stock after selling 10,752 shares during the period. J.W. Cole Advisors Inc.’s holdings in Kroger were worth $1,457,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Avise Financial Cooperative Inc. purchased a new position in shares of Kroger during the 4th quarter worth $476,000. Vise Technologies Inc. grew its holdings in shares of Kroger by 33.6% during the 4th quarter. Vise Technologies Inc. now owns 30,615 shares of the company’s stock worth $1,913,000 after purchasing an additional 7,700 shares during the period. Continuum Advisory LLC grew its holdings in shares of Kroger by 10.9% during the 4th quarter. Continuum Advisory LLC now owns 11,204 shares of the company’s stock worth $700,000 after purchasing an additional 1,105 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of Kroger by 12.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 190,170 shares of the company’s stock worth $11,881,000 after purchasing an additional 21,521 shares during the period. Finally, State of Wyoming grew its holdings in shares of Kroger by 182.8% during the 4th quarter. State of Wyoming now owns 5,127 shares of the company’s stock worth $320,000 after purchasing an additional 3,314 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Kroger Stock Performance

Shares of Kroger stock opened at $62.95 on Tuesday. The business has a 50-day moving average of $67.35 and a 200 day moving average of $66.60. The Kroger Co. has a 12 month low of $58.60 and a 12 month high of $76.58. The stock has a market capitalization of $38.57 billion, a price-to-earnings ratio of 41.14, a price-to-earnings-growth ratio of 1.69 and a beta of 0.43. The company has a debt-to-equity ratio of 2.66, a current ratio of 0.80 and a quick ratio of 0.42.

Kroger Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.2%. Kroger’s dividend payout ratio is currently 91.50%.

Analyst Ratings Changes

A number of research firms have recently weighed in on KR. Erste Group Bank cut Kroger from a “buy” rating to a “hold” rating in a report on Monday, April 27th. Guggenheim reiterated a “buy” rating and set a $78.00 price target on shares of Kroger in a report on Tuesday, February 10th. Barclays reiterated a “positive” rating on shares of Kroger in a report on Monday, February 9th. Wells Fargo & Company cut Kroger from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $70.00 to $68.00 in a report on Wednesday, February 25th. Finally, Jefferies Financial Group restated a “buy” rating and set a $80.00 target price on shares of Kroger in a report on Wednesday, June 3rd. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.73.

Kroger Company Profile

The Kroger Co (NYSE: KR) is one of the largest supermarket operators in the United States, offering a wide range of retail grocery and related services. Founded in Cincinnati in 1883 by Bernard Kroger, the company operates a portfolio of supermarket and multi-department store banners and provides customers with fresh foods, packaged groceries, deli and bakery items, meat and seafood, produce, and prepared foods. Kroger’s stores commonly include pharmacy services and fuel centers, positioning the company as a broad-based neighborhood retail destination for everyday needs.

In addition to traditional in-store retailing, Kroger manufactures and distributes a variety of private-label brands and operates its own food production and supply-chain facilities.