The Kroger Co. (NYSE:KR) Shares Sold by MAI Capital Management

MAI Capital Management lessened its stake in shares of The Kroger Co. (NYSE:KR - Free Report) by 57.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,259 shares of the company's stock after selling 67,310 shares during the quarter. MAI Capital Management's holdings in Kroger were worth $2,823,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of KR. Sumitomo Mitsui Trust Group Inc. raised its holdings in Kroger by 1.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,176,218 shares of the company's stock worth $124,697,000 after purchasing an additional 36,083 shares in the last quarter. Lighthouse Investment Partners LLC purchased a new position in Kroger during the 2nd quarter worth $10,336,000. Buck Wealth Strategies LLC purchased a new position in Kroger during the 2nd quarter worth $6,524,000. OLD National Bancorp IN grew its stake in shares of Kroger by 82.2% during the 2nd quarter. OLD National Bancorp IN now owns 132,857 shares of the company's stock worth $6,634,000 after purchasing an additional 59,949 shares during the period. Finally, Wright Investors Service Inc. grew its stake in shares of Kroger by 63.0% during the 3rd quarter. Wright Investors Service Inc. now owns 38,934 shares of the company's stock worth $2,231,000 after purchasing an additional 15,048 shares during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Activity

In other news, SVP Valerie L. Jabbar sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $55.91, for a total transaction of $167,730.00. Following the completion of the sale, the senior vice president now owns 74,084 shares of the company's stock, valued at approximately $4,142,036.44. This trade represents a 3.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brian W. Nichols sold 6,922 shares of the firm's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $55.80, for a total transaction of $386,247.60. Following the sale, the vice president now directly owns 14,063 shares of the company's stock, valued at $784,715.40. The trade was a 32.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,932 shares of company stock worth $721,243 over the last 90 days. Company insiders own 1.40% of the company's stock.

Kroger Trading Down 0.8 %

Shares of KR stock traded down $0.49 during trading hours on Wednesday, hitting $57.61. 2,513,898 shares of the company were exchanged, compared to its average volume of 4,678,265. The firm has a market cap of $41.68 billion, a PE ratio of 15.21, a PEG ratio of 0.90 and a beta of 0.48. The Kroger Co. has a 1 year low of $42.54 and a 1 year high of $60.35. The company has a quick ratio of 0.46, a current ratio of 0.87 and a debt-to-equity ratio of 0.96. The firm has a fifty day moving average of $56.63 and a 200 day moving average of $54.15.

Kroger (NYSE:KR - Get Free Report) last announced its quarterly earnings data on Thursday, September 12th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.02. Kroger had a net margin of 1.86% and a return on equity of 28.54%. The business had revenue of $33.91 billion for the quarter, compared to analyst estimates of $34.09 billion. During the same period in the prior year, the firm posted $0.96 EPS. The company's revenue was up .2% on a year-over-year basis. Analysts expect that The Kroger Co. will post 4.46 earnings per share for the current year.

Kroger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.28 annualized dividend and a yield of 2.22%. Kroger's payout ratio is 33.51%.

Wall Street Analysts Forecast Growth

KR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of Kroger from $58.00 to $59.00 and gave the stock an "overweight" rating in a research note on Friday, September 13th. Telsey Advisory Group reissued an "outperform" rating and issued a $62.00 price objective on shares of Kroger in a research note on Wednesday, October 9th. Evercore ISI increased their price objective on shares of Kroger from $62.00 to $63.00 and gave the company an "outperform" rating in a research note on Friday, September 13th. Melius Research initiated coverage on shares of Kroger in a research note on Monday, September 23rd. They set a "hold" rating and a $55.00 price target on the stock. Finally, Morgan Stanley raised their price target on shares of Kroger from $57.00 to $58.00 and gave the stock an "equal weight" rating in a research note on Friday, September 13th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Kroger presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.09.

Kroger Company Profile

The Kroger Co operates as a food and drug retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. 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.