Sterling Capital Management LLC Buys New Stake in Kroger Company (The) (KR)

Sterling Capital Management LLC bought a new stake in shares of Kroger Company (The) (NYSE:KR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,267,781 shares of the company’s stock, valued at approximately $29,564,000. Sterling Capital Management LLC owned approximately 0.14% of Kroger Company (The) as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KR. Bank of Hawaii lifted its position in Kroger Company (The) by 18.9% during the first quarter. Bank of Hawaii now owns 20,363 shares of the company’s stock valued at $601,000 after purchasing an additional 3,240 shares in the last quarter. Cibc World Markets Corp lifted its position in Kroger Company (The) by 365.5% during the first quarter. Cibc World Markets Corp now owns 301,499 shares of the company’s stock valued at $8,891,000 after purchasing an additional 236,728 shares in the last quarter. Vaughan David Investments Inc. IL lifted its position in Kroger Company (The) by 3.1% during the first quarter. Vaughan David Investments Inc. IL now owns 502,900 shares of the company’s stock valued at $14,831,000 after purchasing an additional 15,160 shares in the last quarter. Neuberger Berman Group LLC lifted its position in Kroger Company (The) by 42.5% during the first quarter. Neuberger Berman Group LLC now owns 7,369,389 shares of the company’s stock valued at $217,323,000 after purchasing an additional 2,197,652 shares in the last quarter. Finally, Vident Investment Advisory LLC lifted its position in Kroger Company (The) by 80.5% during the first quarter. Vident Investment Advisory LLC now owns 76,637 shares of the company’s stock valued at $2,260,000 after purchasing an additional 34,173 shares in the last quarter. Institutional investors own 75.83% of the company’s stock.

Shares of Kroger Company (KR) traded up 0.794% during midday trading on Thursday, reaching $20.945. The company’s stock had a trading volume of 10,115,071 shares. The stock has a market capitalization of $18.63 billion, a PE ratio of 12.671 and a beta of 0.76. Kroger Company has a 52 week low of $19.69 and a 52 week high of $36.44. The company has a 50 day moving average price of $21.16 and a 200-day moving average price of $25.30.

Kroger Company (The) (NYSE:KR) last released its earnings results on Friday, September 8th. The company reported $0.39 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.39. Kroger Company (The) had a net margin of 1.32% and a return on equity of 28.04%. The business had revenue of $27.60 billion for the quarter, compared to analyst estimates of $27.48 billion. During the same period last year, the company posted $0.47 EPS. The business’s revenue was up 3.9% on a year-over-year basis. On average, equities research analysts expect that Kroger Company will post $1.97 EPS for the current year.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date is Tuesday, November 14th. Kroger Company (The)’s dividend payout ratio (DPR) is 30.30%.

Several equities analysts recently weighed in on the company. UBS AG reiterated a “neutral” rating and set a $27.00 target price (down from $32.00) on shares of Kroger Company (The) in a research report on Friday, June 16th. Jefferies Group LLC lowered their target price on Kroger Company (The) from $24.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, September 11th. Stephens upgraded Kroger Company (The) from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $20.00 to $20.78 in a research report on Thursday. Bank of America Corporation downgraded Kroger Company (The) from a “buy” rating to a “neutral” rating in a research report on Thursday, June 15th. Finally, BMO Capital Markets set a $27.00 price objective on Kroger Company (The) and gave the company a “hold” rating in a research report on Friday, June 16th. Twenty analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $28.57.

COPYRIGHT VIOLATION NOTICE: “Sterling Capital Management LLC Buys New Stake in Kroger Company (The) (KR)” was reported by Community Financial News and is owned by of Community Financial News. If you are viewing this piece of content on another publication, it was stolen and republished in violation of international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.com-unik.info/2017/10/12/sterling-capital-management-llc-buys-new-stake-in-kroger-company-the-kr.html.

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)

What are top analysts saying about Kroger Company (The)? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Kroger Company (The) and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit