Poplar Forest Capital LLC increased its stake in shares of Kroger Co (NYSE:KR) by 44.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 757,374 shares of the company’s stock after buying an additional 232,431 shares during the quarter. Kroger accounts for 1.7% of Poplar Forest Capital LLC’s investment portfolio, making the stock its 27th largest holding. Poplar Forest Capital LLC owned 0.09% of Kroger worth $22,047,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Kroger by 2.3% in the 2nd quarter. BlackRock Inc. now owns 65,465,026 shares of the company’s stock valued at $1,862,480,000 after purchasing an additional 1,490,831 shares during the period. LSV Asset Management lifted its position in shares of Kroger by 6.1% during the 2nd quarter. LSV Asset Management now owns 15,856,614 shares of the company’s stock valued at $451,120,000 after buying an additional 907,367 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Kroger by 1.4% during the 2nd quarter. Victory Capital Management Inc. now owns 8,533,613 shares of the company’s stock valued at $242,781,000 after buying an additional 119,262 shares during the last quarter. Morgan Stanley lifted its position in shares of Kroger by 12.4% during the 2nd quarter. Morgan Stanley now owns 7,621,037 shares of the company’s stock valued at $216,820,000 after buying an additional 842,386 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Kroger by 5,574.9% during the 2nd quarter. Millennium Management LLC now owns 6,969,288 shares of the company’s stock valued at $198,276,000 after buying an additional 6,846,478 shares during the last quarter. Institutional investors and hedge funds own 78.76% of the company’s stock.
KR traded up $0.37 during trading on Wednesday, reaching $31.20. 1,543,367 shares of the company were exchanged, compared to its average volume of 9,325,105. The stock has a market capitalization of $24.06 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 2.34 and a beta of 0.77. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.26 and a current ratio of 0.73. Kroger Co has a 12-month low of $21.15 and a 12-month high of $32.74.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Thursday, November 15th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.56 dividend on an annualized basis and a yield of 1.79%. Kroger’s dividend payout ratio is currently 27.45%.
A number of research analysts have recently commented on the company. UBS Group upped their price target on Kroger from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, October 31st. Jefferies Financial Group upped their price target on Kroger from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, October 31st. Telsey Advisory Group upped their price target on Kroger from $29.00 to $31.00 and gave the company a “market perform” rating in a research report on Wednesday, October 31st. Zacks Investment Research raised Kroger from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Monday, July 16th. Finally, Northcoast Research reaffirmed a “buy” rating and set a $36.00 price target on shares of Kroger in a research report on Monday, July 23rd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $30.40.
In other news, insider Erin S. Sharp sold 25,314 shares of the stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $29.00, for a total transaction of $734,106.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Calvin J. Kaufman sold 10,500 shares of the stock in a transaction dated Thursday, October 11th. The shares were sold at an average price of $27.47, for a total value of $288,435.00. Following the transaction, the senior vice president now owns 124,688 shares in the company, valued at $3,425,179.36. The disclosure for this sale can be found here. Insiders sold a total of 49,575 shares of company stock worth $1,422,559 over the last 90 days. Corporate insiders own 1.07% of the company’s stock.
Kroger Company Profile
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.
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