Mirae Asset Global Investments Co. Ltd. Acquires 13,774 Shares of The Kroger Co. $KR

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in The Kroger Co. by 13% during Q2, now holding 119,442 shares valued at approximately $8.57 million.
• Kroger recently reported earnings per share (EPS) of $1.04, exceeding analysts' estimates of $1.00, with revenue coming in at $33.94 billion.
• The company announced a quarterly dividend of $0.35, set to be paid on December 1, with an annualized yield of 2.1%.

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of The Kroger Co. (NYSE:KR - Free Report) by 13.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 119,442 shares of the company's stock after acquiring an additional 13,774 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Kroger were worth $8,568,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of KR. SOA Wealth Advisors LLC. raised its position in Kroger by 6,840.0% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 347 shares of the company's stock worth $25,000 after purchasing an additional 342 shares during the last quarter. Accent Capital Management LLC acquired a new stake in shares of Kroger in the 1st quarter valued at $25,000. Garde Capital Inc. bought a new stake in shares of Kroger during the first quarter worth $31,000. Capital Analysts LLC acquired a new position in shares of Kroger during the first quarter valued at $36,000. Finally, Sound Income Strategies LLC boosted its holdings in Kroger by 46.7% in the first 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 last quarter. 80.93% of the stock is owned by institutional investors.

Kroger Trading Down 0.1%

Shares of NYSE KR opened at $66.30 on Monday. The Kroger Co. has a twelve month low of $54.88 and a twelve month high of $74.90. The stock has a market cap of $43.93 billion, a price-to-earnings ratio of 16.83, a P/E/G ratio of 1.93 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 company's fifty day moving average is $68.75 and its 200-day moving average is $69.03.

Kroger (NYSE:KR - Get Free Report) last released its quarterly earnings data on Thursday, September 11th. The company reported $1.04 EPS for the quarter, beating 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 firm's quarterly revenue was up .1% on a year-over-year basis. 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. Equities research analysts predict that The Kroger Co. will post 4.44 EPS for the current year.

Kroger Dividend Announcement

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

Insider Transactions at Kroger

In related news, Director Clyde R. Moore sold 3,810 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $6,147,718.50. This represents a 4.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KR. Barclays began coverage on Kroger in a report on Monday, July 21st. They set an "equal weight" rating and a $75.00 price objective for the company. Argus set a $85.00 price target on shares of Kroger in a research note on Thursday, September 18th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Kroger from $57.00 to $67.00 and gave the company a "hold" rating in a research note on Monday, June 23rd. Morgan Stanley set a $76.00 target price on shares of Kroger and gave the company an "equal weight" rating in a research report on Monday, June 23rd. Finally, Evercore ISI increased their price target on Kroger from $80.00 to $82.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. Ten investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.

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