State Board of Administration of Florida Retirement System Reduces Position in Kroger Co (NYSE:KR)

State Board of Administration of Florida Retirement System cut its holdings in shares of Kroger Co (NYSE:KR) by 1.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,242,815 shares of the company’s stock after selling 23,400 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Kroger were worth $26,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in KR. Sterling Investment Advisors Ltd. purchased a new position in Kroger in the first quarter worth about $25,000. TRUE Private Wealth Advisors purchased a new position in Kroger in the second quarter worth about $26,000. Motco purchased a new position in Kroger in the first quarter worth about $28,000. Sageworth Trust Co purchased a new position in Kroger in the second quarter worth about $33,000. Finally, Penserra Capital Management LLC purchased a new position in Kroger in the first quarter worth about $38,000. 80.31% of the stock is currently owned by institutional investors.

A number of research analysts have recently weighed in on KR shares. Zacks Investment Research raised Kroger from a “sell” rating to a “hold” rating and set a $26.00 price objective on the stock in a research report on Friday, May 31st. Pivotal Research raised Kroger from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Friday, August 2nd. BMO Capital Markets lowered their price objective on Kroger to $24.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 18th. ValuEngine raised Kroger from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 8th. Finally, Bank of America lowered their price objective on Kroger from $37.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $28.61.

In other Kroger news, Director Ronald Sargent bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were bought at an average price of $21.49 per share, with a total value of $107,450.00. Following the purchase, the director now owns 94,660 shares of the company’s stock, valued at $2,034,243.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan J. Kropf sold 13,000 shares of Kroger stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $21.64, for a total value of $281,320.00. Following the sale, the director now directly owns 101,171 shares in the company, valued at approximately $2,189,340.44. The disclosure for this sale can be found here. Insiders have sold a total of 43,600 shares of company stock worth $955,450 in the last three months. 1.34% of the stock is owned by corporate insiders.

Shares of KR stock traded down $0.18 during trading hours on Friday, reaching $23.49. 20,936 shares of the company traded hands, compared to its average volume of 11,209,106. The firm has a 50-day moving average price of $22.09 and a 200 day moving average price of $24.42. The company has a market cap of $18.30 billion, a P/E ratio of 11.13, a P/E/G ratio of 1.62 and a beta of 0.62. Kroger Co has a 12-month low of $20.70 and a 12-month high of $32.74. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.75 and a quick ratio of 0.25.

Kroger (NYSE:KR) last issued its earnings results on Thursday, June 20th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.01. The company had revenue of $37.25 billion for the quarter, compared to the consensus estimate of $37.27 billion. Kroger had a return on equity of 21.79% and a net margin of 1.54%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the company earned $0.73 EPS. Sell-side analysts predict that Kroger Co will post 2.17 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Thursday, August 15th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.72%. The ex-dividend date is Wednesday, August 14th. This is an increase from Kroger’s previous quarterly dividend of $0.14. Kroger’s dividend payout ratio (DPR) is 30.33%.

Kroger 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.

Read More: What are benefits of a growth and income fund?

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).

Institutional Ownership by Quarter for Kroger (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.