KLP Kapitalforvaltning AS Has $28.26 Million Stake in The Kroger Co. $KR

Key Points

• KLP Kapitalforvaltning AS increased its stake in The Kroger Co. by 5.7% during the second quarter, holding approximately $28.26 million in shares.
• The Kroger Co. has reported earnings of $1.04 per share, exceeding analyst expectations, and announced a $0.35 quarterly dividend to be paid on December 1st.
• Kroger's stock has been rated as a "Moderate Buy" by analysts with an average price target of $73.63 after multiple upgrades from various financial institutions.

KLP Kapitalforvaltning AS boosted its stake in The Kroger Co. (NYSE:KR - Free Report) by 5.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 393,925 shares of the company's stock after buying an additional 21,200 shares during the quarter. KLP Kapitalforvaltning AS owned approximately 0.06% of Kroger worth $28,256,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bessemer Group Inc. raised its position in Kroger by 1.7% in the 1st quarter. Bessemer Group Inc. now owns 12,545 shares of the company's stock valued at $850,000 after buying an additional 213 shares during the last quarter. Diversified Trust Co raised its position in Kroger by 3.7% in the 1st quarter. Diversified Trust Co now owns 6,429 shares of the company's stock valued at $435,000 after buying an additional 229 shares during the last quarter. Sowell Financial Services LLC raised its position in Kroger by 8.1% in the 2nd quarter. Sowell Financial Services LLC now owns 51,805 shares of the company's stock valued at $3,716,000 after buying an additional 3,869 shares during the last quarter. IFM Investors Pty Ltd raised its position in Kroger by 4.8% in the 2nd quarter. IFM Investors Pty Ltd now owns 115,687 shares of the company's stock valued at $8,298,000 after buying an additional 5,325 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Kroger by 69.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 24,468 shares of the company's stock valued at $1,755,000 after buying an additional 10,039 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Kroger news, Director Clyde R. Moore sold 26,814 shares of the firm's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $70.50, for a total value of $1,890,387.00. Following the completion of the transaction, the director owned 99,143 shares in the company, valued at $6,989,581.50. This trade represents a 21.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.44% of the stock is currently owned by corporate insiders.

Kroger Stock Up 3.2%

KR stock opened at $66.87 on Wednesday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.54 and a current ratio of 0.95. The company has a market capitalization of $44.32 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.88 and a beta of 0.57. The Kroger Co. has a fifty-two week low of $54.88 and a fifty-two week high of $74.90. The stock has a fifty day moving average of $68.61 and a 200-day moving average of $69.01.

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

Kroger Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on KR shares. Deutsche Bank Aktiengesellschaft increased their price target on Kroger from $57.00 to $67.00 and gave the company a "hold" rating in a research report on Monday, June 23rd. JPMorgan Chase & Co. restated a "neutral" rating and issued a $75.00 price objective (down previously from $82.00) on shares of Kroger in a research note on Wednesday, August 20th. Roth Capital upgraded Kroger from a "neutral" rating to a "buy" rating and set a $75.00 price objective for the company in a research note on Wednesday, September 17th. Morgan Stanley set a $76.00 price objective on Kroger and gave the company an "equal weight" rating in a research note on Monday, June 23rd. Finally, UBS Group restated a "neutral" rating and issued a $74.00 price objective (up previously from $66.00) on shares of Kroger in a research note on Monday, June 23rd. Ten equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Kroger currently has an average rating of "Moderate Buy" and an average price target of $73.63.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.