US Bancorp DE Cuts Stake in The Kroger Co. (NYSE:KR)

01 Nov 2024, 10:52 by Danessa Lincoln · The Markets Daily

US Bancorp DE decreased its stake in The Kroger Co. (NYSE:KR – Free Report) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 619,843 shares of the company’s stock after selling 17,527 shares during the period. US Bancorp DE owned approximately 0.09% of Kroger worth $35,517,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of KR. Palisade Asset Management LLC acquired a new stake in Kroger in the first quarter valued at approximately $29,000. Altshuler Shaham Ltd acquired a new stake in Kroger during the 2nd quarter valued at $28,000. Northwest Investment Counselors LLC purchased a new stake in Kroger during the 3rd quarter worth $34,000. Newbridge Financial Services Group Inc. lifted its holdings in Kroger by 218.8% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 714 shares of the company’s stock worth $36,000 after buying an additional 490 shares in the last quarter. Finally, ORG Partners LLC purchased a new position in Kroger in the 2nd quarter valued at about $42,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity at Kroger

In other Kroger news, SVP Valerie L. Jabbar sold 3,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $55.91, for a total value of $167,730.00. Following the completion of the transaction, the senior vice president now owns 74,084 shares in the company, valued at approximately $4,142,036.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Brian W. Nichols sold 6,922 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $55.80, for a total value of $386,247.60. Following the completion of the transaction, the vice president now directly owns 14,063 shares in the company, valued at $784,715.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Valerie L. Jabbar sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $55.91, for a total value of $167,730.00. Following the sale, the senior vice president now directly owns 74,084 shares in the company, valued at approximately $4,142,036.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,932 shares of company stock worth $721,243 in the last ninety days. 1.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

KR has been the topic of several recent analyst reports. Morgan Stanley boosted their price target on Kroger from $57.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. StockNews.com cut Kroger from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 16th. Telsey Advisory Group reissued an “outperform” rating and set a $62.00 price target on shares of Kroger in a research report on Wednesday, October 9th. BNP Paribas initiated coverage on shares of Kroger in a report on Friday, October 18th. They issued a “neutral” rating and a $56.00 price target on the stock. Finally, Melius Research initiated coverage on shares of Kroger in a report on Monday, September 23rd. They set a “hold” rating and a $55.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $60.09.

Get Our Latest Analysis on KR

Kroger Trading Up 0.1 %

Kroger stock opened at $55.77 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.46 and a current ratio of 0.87. The Kroger Co. has a 1 year low of $42.10 and a 1 year high of $58.34. The firm’s 50-day moving average is $55.13 and its 200-day moving average is $53.90. The company has a market cap of $40.35 billion, a P/E ratio of 14.60, a PEG ratio of 0.86 and a beta of 0.47.

Kroger (NYSE:KR – Get Free Report) last issued its earnings results on Thursday, September 12th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The company had revenue of $33.91 billion during the quarter, compared to the consensus estimate of $34.09 billion. Kroger had a return on equity of 28.54% and a net margin of 1.86%. Kroger’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.96 earnings per share. On average, equities analysts expect that The Kroger Co. will post 4.46 earnings per share for the current year.

Kroger Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.30%. Kroger’s dividend payout ratio (DPR) is presently 33.51%.

Kroger Profile

(Free Report)