Canopy Partners LLC Has $3.13 Million Stock Holdings in The Kroger Co. $KR

Key Points

• Canopy Partners LLC reduced its holdings in The Kroger Co. by 47.8%, resulting in ownership of 43,678 shares worth approximately $3.13 million.
• Kroger recently reported earnings of $1.04 EPS for the last quarter, exceeding the consensus estimate of $1.00, although revenue was slightly below expectations at $33.94 billion.
• The company declared a quarterly dividend of $0.35 per share, with a payment set for December 1, representing an annualized yield of 2.1%.

Canopy Partners LLC lessened its holdings in The Kroger Co. (NYSE:KR - Free Report) by 47.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,678 shares of the company's stock after selling 40,021 shares during the quarter. Kroger accounts for approximately 1.1% of Canopy Partners LLC's investment portfolio, making the stock its 20th biggest position. Canopy Partners LLC's holdings in Kroger were worth $3,133,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of KR. Wellington Management Group LLP boosted its holdings in shares of Kroger by 85.3% in the 1st quarter. Wellington Management Group LLP now owns 6,397,771 shares of the company's stock valued at $433,065,000 after purchasing an additional 2,945,848 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Kroger in the 1st quarter valued at $178,385,000. Alyeska Investment Group L.P. boosted its holdings in shares of Kroger by 101.7% in the 1st quarter. Alyeska Investment Group L.P. now owns 4,084,584 shares of the company's stock valued at $276,485,000 after purchasing an additional 2,059,574 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Kroger by 80.7% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,185,530 shares of the company's stock valued at $156,768,000 after acquiring an additional 976,100 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Kroger in the 1st quarter valued at $62,730,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Kroger Stock Up 3.2%

Shares of NYSE:KR opened at $66.87 on Wednesday. The firm has a market cap of $44.32 billion, a P/E ratio of 16.97, a P/E/G ratio of 1.88 and a beta of 0.57. The company has a quick ratio of 0.54, a current ratio of 0.95 and a debt-to-equity ratio of 1.85. The Kroger Co. has a 12-month low of $54.88 and a 12-month high of $74.90. The business has a fifty day simple moving average of $68.61 and a 200 day simple moving average of $69.01.

Kroger (NYSE:KR - Get Free Report) last announced its earnings results on Thursday, September 11th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. Kroger had a return on equity of 32.62% and a net margin of 1.86%.The business had revenue of $33.94 billion during the quarter, compared to analyst estimates of $34.08 billion. During the same period last year, the company earned $0.93 EPS. Kroger's revenue for the quarter was up .1% compared to the same quarter last year. Kroger has set its FY 2025 guidance at 4.700-4.800 EPS. Analysts predict that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, November 14th. Kroger's dividend payout ratio (DPR) is presently 35.53%.

Insiders Place Their Bets

In other Kroger news, Director Clyde R. Moore sold 3,810 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $71.61, for a total transaction of $272,834.10. Following the completion of the sale, the director directly owned 85,850 shares in the company, valued at approximately $6,147,718.50. This trade represents a 4.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.44% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on KR shares. Jefferies Financial Group set a $83.00 price target on Kroger and gave the company a "buy" rating in a research note on Monday, June 23rd. Roth Capital upgraded Kroger from a "neutral" rating to a "buy" rating and set a $75.00 price target for the company in a research note on Wednesday, September 17th. Guggenheim reiterated a "buy" rating and issued a $78.00 price target on shares of Kroger in a research note on Friday, September 12th. Barclays started coverage on Kroger in a research note on Monday, July 21st. They issued an "equal weight" rating and a $75.00 price target for the company. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $82.00 price target on shares of Kroger in a research note on Thursday, September 11th. Ten investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, Kroger has an average rating of "Moderate Buy" and a consensus target price of $73.63.

Kroger Profile

The Kroger Co operates as a food and drug retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. 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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