Cedar Wealth Management LLC Has $116,000 Stake in Kroger Company (The) (KR)

Cedar Wealth Management LLC boosted its position in Kroger Company (The) (NYSE:KR) by 155.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,990 shares of the company’s stock after buying an additional 3,040 shares during the period. Cedar Wealth Management LLC’s holdings in Kroger Company (The) were worth $116,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Kroger Company (The) by 9.2% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 535,882 shares of the company’s stock valued at $18,493,000 after buying an additional 44,970 shares during the last quarter. Wealthfront Inc. purchased a new position in shares of Kroger Company (The) during the fourth quarter valued at about $630,000. UBS Asset Management Americas Inc. boosted its position in shares of Kroger Company (The) by 172.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 6,284,040 shares of the company’s stock valued at $216,862,000 after buying an additional 3,980,341 shares during the last quarter. Becker Capital Management Inc. boosted its position in shares of Kroger Company (The) by 19.2% in the fourth quarter. Becker Capital Management Inc. now owns 1,224,210 shares of the company’s stock valued at $42,247,000 after buying an additional 197,535 shares during the last quarter. Finally, Teachers Advisors LLC boosted its position in shares of Kroger Company (The) by 18.8% in the fourth quarter. Teachers Advisors LLC now owns 1,355,588 shares of the company’s stock valued at $46,781,000 after buying an additional 214,134 shares during the last quarter. Institutional investors and hedge funds own 77.33% of the company’s stock.

Kroger Company (NYSE:KR) remained flat at $22.86 during midday trading on Friday. 7,969,409 shares of the company were exchanged. The firm’s 50-day moving average is $23.46 and its 200 day moving average is $28.04. The company has a market capitalization of $20.51 billion, a P/E ratio of 13.76 and a beta of 0.76. Kroger Company has a 1-year low of $20.46 and a 1-year high of $36.44.

Kroger Company (The) (NYSE:KR) last issued its earnings results on Thursday, June 15th. The company reported $0.58 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.58. The firm had revenue of $36.29 billion during the quarter, compared to analysts’ expectations of $35.69 billion. Kroger Company (The) had a net margin of 1.35% and a return on equity of 29.10%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $0.70 earnings per share. On average, analysts predict that Kroger Company will post $1.98 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be paid a $0.125 dividend. This is a positive change from Kroger Company (The)’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.50 dividend on an annualized basis and a yield of 2.19%. Kroger Company (The)’s dividend payout ratio (DPR) is currently 30.12%.

Kroger Company (The) announced that its board has initiated a stock repurchase program on Thursday, June 22nd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 4.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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Several brokerages recently issued reports on KR. BMO Capital Markets set a $32.00 target price on Kroger Company (The) and gave the company a “hold” rating in a research note on Saturday, June 10th. UBS AG reaffirmed a “neutral” rating and issued a $27.00 price objective (down previously from $32.00) on shares of Kroger Company (The) in a research note on Friday, June 16th. Bank of America Corporation cut Kroger Company (The) from a “buy” rating to a “neutral” rating in a report on Thursday, June 15th. Loop Capital reiterated a “hold” rating and issued a $32.00 target price on shares of Kroger Company (The) in a report on Wednesday, May 24th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $26.00 target price (down previously from $30.00) on shares of Kroger Company (The) in a report on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $30.09.

In related news, Director Susan M. Phillips sold 6,200 shares of Kroger Company (The) stock in a transaction on Friday, June 16th. The shares were sold at an average price of $21.17, for a total value of $131,254.00. Following the transaction, the director now owns 124,105 shares in the company, valued at approximately $2,627,302.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider J Michael Schlotman bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The stock was purchased at an average price of $22.73 per share, for a total transaction of $45,460.00. The disclosure for this purchase can be found here. Company insiders own 0.85% of the company’s stock.

About Kroger Company (The)

The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.

Institutional Ownership by Quarter for Kroger Company (The) (NYSE:KR)

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