Meyer Handelman Co. Boosts Holdings in The Kroger Co. $KR

Key Points

• Meyer Handelman Co. increased its holdings in The Kroger Co. by 40.1% in the second quarter, acquiring an additional 27,378 shares, bringing their total to 95,714 shares valued at approximately $6.87 million.
• Several hedge funds have also strengthened their positions in Kroger, with notable increases from TD Private Client Wealth LLC (up 28.5%) and new investments from Dakota Wealth Management and Plancorp LLC.
• Kroger recently reported earnings per share of $1.04 for the quarter, slightly exceeding the analyst expectation of $1.00, and declared a $0.35 quarterly dividend to be paid on December 1st.

Meyer Handelman Co. raised its holdings in The Kroger Co. (NYSE:KR - Free Report) by 40.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 95,714 shares of the company's stock after purchasing an additional 27,378 shares during the quarter. Meyer Handelman Co.'s holdings in Kroger were worth $6,866,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Dakota Wealth Management purchased a new stake in Kroger in the second quarter valued at $906,000. Plancorp LLC purchased a new stake in Kroger in the second quarter valued at $203,000. TD Private Client Wealth LLC boosted its holdings in Kroger by 28.5% in the second quarter. TD Private Client Wealth LLC now owns 4,697 shares of the company's stock valued at $337,000 after purchasing an additional 1,042 shares during the last quarter. Sara Bay Financial purchased a new stake in Kroger in the second quarter valued at $204,000. Finally, Ballentine Partners LLC boosted its holdings in Kroger by 2.4% in the second quarter. Ballentine Partners LLC now owns 16,340 shares of the company's stock valued at $1,172,000 after purchasing an additional 379 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on KR. Evercore ISI upped their price objective on shares of Kroger from $80.00 to $82.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Argus set a $85.00 price objective on shares of Kroger in a research report on Thursday, September 18th. Roth Mkm upgraded shares of Kroger from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $66.00 to $75.00 in a research report on Wednesday, September 17th. Barclays began coverage on shares of Kroger in a research report on Monday, July 21st. They issued an "equal weight" rating and a $75.00 price objective for the company. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $82.00 price objective on shares of Kroger in a research report on Thursday, September 11th. Nine analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $73.63.

Kroger Stock Down 0.1%

KR opened at $65.51 on Friday. The Kroger Co. has a twelve month low of $54.88 and a twelve month high of $74.90. 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 company has a 50-day moving average price of $69.44 and a 200 day moving average price of $68.96. The company has a market cap of $43.41 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 1.91 and a beta of 0.59.

Kroger (NYSE:KR - Get Free Report) last released 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. Kroger had a net margin of 1.86% and a return on equity of 32.62%. The firm had revenue of $33.94 billion during the quarter, compared to the consensus estimate of $34.08 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The company's revenue for the quarter was up .1% on a year-over-year basis. Kroger has set its FY 2025 guidance at 4.700-4.800 EPS. Sell-side analysts expect that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Kroger Announces Dividend

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

Insider Buying and Selling at Kroger

In related news, Director Clyde R. Moore sold 26,814 shares of the company's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $70.50, for a total transaction 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 represents a 21.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.44% of the stock is currently owned by company insiders.

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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