Cetera Advisor Networks LLC increased its stake in shares of Kroger Co (NYSE:KR) by 27.3% during the 1st quarter, Holdings Channel reports. The firm owned 52,154 shares of the company’s stock after acquiring an additional 11,183 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Kroger were worth $1,283,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas grew its stake in shares of Kroger by 35.3% during the fourth quarter. Teacher Retirement System of Texas now owns 2,890,189 shares of the company’s stock valued at $79,480,000 after purchasing an additional 754,495 shares during the last quarter. Pendal Group Ltd grew its stake in shares of Kroger by 45.0% during the fourth quarter. Pendal Group Ltd now owns 296,833 shares of the company’s stock valued at $8,163,000 after purchasing an additional 92,090 shares during the last quarter. Financial Advocates Investment Management grew its stake in shares of Kroger by 359.2% during the fourth quarter. Financial Advocates Investment Management now owns 19,895 shares of the company’s stock valued at $398,000 after purchasing an additional 15,562 shares during the last quarter. Retirement Systems of Alabama grew its stake in shares of Kroger by 181.7% during the first quarter. Retirement Systems of Alabama now owns 1,034,762 shares of the company’s stock valued at $25,455,000 after purchasing an additional 667,370 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Kroger during the fourth quarter valued at approximately $221,584,000. 83.32% of the stock is currently owned by institutional investors and hedge funds.
Shares of KR stock opened at $24.66 on Friday. Kroger Co has a 52-week low of $23.52 and a 52-week high of $32.74. The company has a market capitalization of $20.34 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.52 and a beta of 0.64. The company has a current ratio of 0.76, a quick ratio of 0.28 and a debt-to-equity ratio of 1.54.
The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be issued a $0.14 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.56 annualized dividend and a yield of 2.27%. Kroger’s dividend payout ratio (DPR) is presently 26.54%.
Several research firms have recently commented on KR. ValuEngine raised shares of Kroger from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Credit Suisse Group decreased their price target on shares of Kroger from $33.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, March 8th. Zacks Investment Research cut shares of Kroger from a “hold” rating to a “sell” rating in a research note on Tuesday, May 7th. Pivotal Research reaffirmed a “hold” rating and issued a $26.00 price objective (down from $31.00) on shares of Kroger in a research note on Friday, March 8th. Finally, Scotiabank set a $32.00 price objective on shares of Kroger and gave the company a “buy” rating in a research note on Friday, March 8th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $30.33.
In other Kroger news, VP Michael Joseph Donnelly sold 10,916 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $25.83, for a total value of $281,960.28. Following the sale, the vice president now directly owns 351,095 shares in the company, valued at $9,068,783.85. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert D. Beyer sold 80,000 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $24.52, for a total transaction of $1,961,600.00. Following the completion of the sale, the director now owns 126,800 shares in the company, valued at $3,109,136. The disclosure for this sale can be found here. Over the last quarter, insiders sold 108,416 shares of company stock worth $2,694,175. Company insiders own 1.07% of the company’s stock.
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Kroger Company Profile
The Kroger Co operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.
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