Tocqueville Asset Management L.P. lessened its holdings in shares of Kroger Co (NYSE:KR) by 87.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 24,638 shares of the company’s stock after selling 179,191 shares during the period. Tocqueville Asset Management L.P.’s holdings in Kroger were worth $535,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of KR. Sterling Investment Advisors Ltd. bought a new position in shares of Kroger in the first quarter valued at approximately $25,000. Motco bought a new position in shares of Kroger in the first quarter valued at approximately $28,000. Sageworth Trust Co bought a new position in shares of Kroger in the second quarter valued at approximately $33,000. Penserra Capital Management LLC bought a new position in shares of Kroger in the first quarter valued at approximately $38,000. Finally, Buffington Mohr McNeal bought a new position in shares of Kroger in the first quarter valued at approximately $39,000. 79.68% of the stock is currently owned by hedge funds and other institutional investors.
In other Kroger news, Director Susan J. Kropf sold 13,000 shares of Kroger stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $21.64, for a total transaction of $281,320.00. Following the sale, the director now owns 101,171 shares in the company, valued at $2,189,340.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen M. Mckinney sold 15,600 shares of Kroger stock in a transaction on Monday, July 15th. The stock was sold at an average price of $22.05, for a total transaction of $343,980.00. Following the sale, the insider now owns 168,070 shares in the company, valued at approximately $3,705,943.50. The disclosure for this sale can be found here. Insiders have sold 43,600 shares of company stock worth $955,450 in the last quarter. Corporate insiders own 1.34% of the company’s stock.
Kroger (NYSE:KR) last announced its earnings results on Thursday, June 20th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.01. Kroger had a net margin of 1.54% and a return on equity of 21.79%. The business had revenue of $37.25 billion for the quarter, compared to analyst estimates of $37.27 billion. During the same quarter in the previous year, the firm posted $0.73 earnings per share. Kroger’s revenue was down 1.2% compared to the same quarter last year. Equities research analysts anticipate that Kroger Co will post 2.17 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.64 dividend on an annualized basis and a yield of 2.85%. This is an increase from Kroger’s previous quarterly dividend of $0.14. Kroger’s payout ratio is currently 26.54%.
KR has been the topic of a number of recent analyst reports. Bank of America dropped their price target on shares of Kroger from $37.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. BMO Capital Markets dropped their price target on shares of Kroger to $24.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 18th. TheStreet lowered shares of Kroger from a “b-” rating to a “c+” rating in a research report on Wednesday, June 5th. Sanford C. Bernstein raised shares of Kroger from a “market perform” rating to an “outperform” rating and set a $33.00 price target on the stock in a research report on Monday, May 20th. Finally, ValuEngine raised shares of Kroger from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $28.61.
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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