Nordea Investment Management AB Sells 344,264 Shares of The Kroger Co. $KR

Key Points

• Nordea Investment Management AB has decreased its stake in Kroger by 7.2% in the second quarter, now holding approximately 4.4 million shares valued at about $315.6 million.
• Kroger reported a quarterly earnings per share (EPS) of $1.04, exceeding analyst expectations of $1.00, with total revenue of $33.94 billion.
• The company declared a quarterly dividend of $0.35 per share, representing an annualized dividend of $1.40 and a yield of 2.0%, with the payment scheduled for December 1st.

Nordea Investment Management AB reduced its holdings in shares of The Kroger Co. (NYSE:KR - Free Report) by 7.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,415,092 shares of the company's stock after selling 344,264 shares during the quarter. Nordea Investment Management AB owned approximately 0.67% of Kroger worth $315,591,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in KR. Accent Capital Management LLC bought a new position in shares of Kroger during the 1st quarter worth approximately $25,000. SOA Wealth Advisors LLC. boosted its stake in shares of Kroger by 6,840.0% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 347 shares of the company's stock worth $25,000 after acquiring an additional 342 shares during the period. Garde Capital Inc. bought a new position in shares of Kroger during the 1st quarter worth approximately $31,000. Capital Analysts LLC acquired a new stake in Kroger during the 1st quarter worth approximately $36,000. Finally, GKV Capital Management Co. Inc. acquired a new stake in Kroger during the 1st quarter worth approximately $38,000. 80.93% of the stock is currently owned by institutional investors.

Kroger Price Performance

Kroger stock opened at $68.85 on Friday. 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 Kroger Co. has a 52 week low of $55.60 and a 52 week high of $74.90. The stock has a market capitalization of $45.63 billion, a P/E ratio of 17.47, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. The stock has a fifty day moving average of $68.14 and a 200-day moving average of $69.10.

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. Kroger had a return on equity of 32.62% and a net margin of 1.86%.The company had revenue of $33.94 billion during the quarter, compared to analysts' expectations of $34.08 billion. During the same quarter in the previous year, the firm earned $0.93 EPS. Kroger's revenue was up .1% on a year-over-year basis. Kroger has set its FY 2025 guidance at 4.700-4.800 EPS. On average, sell-side analysts expect that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Kroger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.0%. Kroger's payout ratio is 35.53%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KR. Roth Capital raised Kroger from a "neutral" rating to a "buy" rating and set a $75.00 price target for the company in a report on Wednesday, September 17th. Jefferies Financial Group set a $83.00 price target on Kroger and gave the stock a "buy" rating in a report on Monday, June 23rd. Telsey Advisory Group reissued an "outperform" rating and set a $82.00 price target on shares of Kroger in a report on Thursday, September 11th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $75.00 price target (down from $82.00) on shares of Kroger in a report on Wednesday, August 20th. Finally, Wall Street Zen cut Kroger from a "strong-buy" rating to a "buy" rating in a report on Sunday, September 21st. Ten equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $73.53.

About Kroger

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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