The Kroger Co. (NYSE:KR) Shares Sold by Cibc World Market Inc.

06 Dec 2023, 14:06 by Sarita Garza · The Markets Daily

Cibc World Market Inc. lessened its stake in shares of The Kroger Co. (NYSE:KR – Free Report) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,428 shares of the company’s stock after selling 341 shares during the quarter. Cibc World Market Inc.’s holdings in Kroger were worth $678,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in KR. KB Financial Partners LLC bought a new stake in Kroger during the first quarter worth approximately $28,000. Resurgent Financial Advisors LLC acquired a new position in Kroger in the 4th quarter worth approximately $35,000. WealthPlan Investment Management LLC boosted its stake in Kroger by 82.8% in the 2nd quarter. WealthPlan Investment Management LLC now owns 2,124 shares of the company’s stock worth $39,000 after purchasing an additional 962 shares during the period. Mcmillion Capital Management Inc. acquired a new position in Kroger in the 2nd quarter worth approximately $43,000. Finally, Key Financial Inc boosted its stake in Kroger by 36.2% in the 2nd quarter. Key Financial Inc now owns 1,008 shares of the company’s stock worth $47,000 after purchasing an additional 268 shares during the period. Institutional investors and hedge funds own 78.98% of the company’s stock.

Kroger Stock Down 0.4 %

Kroger stock opened at $44.51 on Wednesday. The company has a market capitalization of $32.02 billion, a P/E ratio of 17.32, a P/E/G ratio of 2.09 and a beta of 0.47. The firm’s fifty day simple moving average is $44.26 and its 200-day simple moving average is $46.03. The company has a current ratio of 0.80, a quick ratio of 0.33 and a debt-to-equity ratio of 1.08. The Kroger Co. has a 1-year low of $42.10 and a 1-year high of $50.36.

Kroger (NYSE:KR – Get Free Report) last released its quarterly earnings results on Thursday, November 30th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. The business had revenue of $33.96 billion for the quarter, compared to the consensus estimate of $33.90 billion. Kroger had a net margin of 1.27% and a return on equity of 30.22%. Kroger’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 EPS. Sell-side analysts forecast that The Kroger Co. will post 4.55 earnings per share for the current fiscal year.

Kroger Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were issued a $0.29 dividend. The ex-dividend date was Tuesday, November 14th. This represents a $1.16 annualized dividend and a yield of 2.61%. Kroger’s dividend payout ratio (DPR) is presently 45.14%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on KR. Stephens decreased their price objective on shares of Kroger from $52.00 to $50.00 and set an “equal weight” rating for the company in a research note on Friday, December 1st. HSBC initiated coverage on shares of Kroger in a research report on Friday, September 22nd. They issued a “hold” rating and a $52.00 target price for the company. TheStreet upgraded shares of Kroger from a “c+” rating to a “b” rating in a research report on Thursday, November 30th. StockNews.com initiated coverage on shares of Kroger in a research report on Thursday, October 5th. They issued a “buy” rating for the company. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $55.00 target price on shares of Kroger in a research report on Tuesday, November 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $52.75.

Get Our Latest Research Report on KR

Insider Buying and Selling

In related news, SVP Timothy A. Massa sold 23,000 shares of Kroger stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $45.46, for a total value of $1,045,580.00. Following the transaction, the senior vice president now owns 194,956 shares in the company, valued at approximately $8,862,699.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Kroger news, VP Carin L. Fike sold 4,798 shares of the firm’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $45.52, for a total value of $218,404.96. Following the sale, the vice president now directly owns 4,156 shares in the company, valued at approximately $189,181.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Timothy A. Massa sold 23,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $45.46, for a total transaction of $1,045,580.00. Following the completion of the sale, the senior vice president now owns 194,956 shares in the company, valued at $8,862,699.76. The disclosure for this sale can be found here. Insiders have sold 33,798 shares of company stock worth $1,542,985 in the last quarter. 1.38% of the stock is currently owned by company insiders.

Kroger Company Profile

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