Columbia Asset Management Sells 417,360 Shares of The Kroger Co. $KR

Key Points

• Columbia Asset Management significantly reduced its stake in The Kroger Co., selling 417,360 shares and leaving it with only 3,080 shares as of the end of the last quarter.
• Kroger announced a quarterly dividend of $0.35 per share, which will be paid on December 1st, representing an annualized yield of 2.1% and a payout ratio of 35.53%.
• Despite a slight drop in stock price, several analysts have upgraded their ratings and price targets for Kroger, indicating a mixed but generally optimistic outlook for the company's performance.

Columbia Asset Management decreased its stake in The Kroger Co. (NYSE:KR - Free Report) by 99.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,080 shares of the company's stock after selling 417,360 shares during the period. Columbia Asset Management's holdings in Kroger were worth $221,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Accent Capital Management LLC bought a new position in Kroger in the 1st quarter valued at approximately $25,000. Garde Capital Inc. acquired a new position in Kroger in the 1st quarter valued at approximately $31,000. Capital Analysts LLC acquired a new position in Kroger in the 1st quarter valued at approximately $36,000. Sound Income Strategies LLC increased its position in Kroger by 46.7% in the 1st quarter. Sound Income Strategies LLC now owns 550 shares of the company's stock valued at $37,000 after acquiring an additional 175 shares during the period. Finally, GKV Capital Management Co. Inc. acquired a new position in Kroger in the 1st quarter valued at approximately $38,000. Institutional investors own 80.93% of the company's stock.

Kroger Trading Down 1.3%

NYSE:KR opened at $66.51 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.54 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $44.08 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 1.96 and a beta of 0.57. The firm has a fifty day simple moving average of $68.98 and a two-hundred day simple moving average of $68.98. The Kroger Co. has a 12 month low of $54.88 and a 12 month high of $74.90.

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

Kroger Announces Dividend

The business 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 $0.35 dividend. 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%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Roth Capital upgraded shares of Kroger from a "neutral" rating to a "buy" rating and set a $75.00 price target for the company in a research report on Wednesday, September 17th. Morgan Stanley set a $76.00 price target on shares of Kroger and gave the company an "equal weight" rating in a research report on Monday, June 23rd. Telsey Advisory Group restated an "outperform" rating and issued a $82.00 price target on shares of Kroger in a research report on Thursday, September 11th. Wall Street Zen cut shares of Kroger from a "strong-buy" rating to a "buy" rating in a research report on Sunday, September 21st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Kroger from $57.00 to $67.00 and gave the company a "hold" rating in a research report on Monday, June 23rd. Nine equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $73.63.

Insider Buying and Selling

In other Kroger news, Director Clyde R. Moore sold 3,810 shares of the firm's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $71.61, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.44% of the company's stock.

Kroger Company 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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