OLD National Bancorp IN Purchases 59,778 Shares of The Kroger Co. $KR

Key Points

• OLD National Bancorp IN increased its holdings in The Kroger Co. by 32.6%, owning 243,131 shares valued at approximately $17.44 million after purchasing an additional 59,778 shares during the second quarter.
• Kroger recently reported an earnings per share (EPS) of $1.04 for the quarter, exceeding analysts' expectations, while also setting its FY 2025 guidance at 4.700-4.800 EPS.
• The company announced a quarterly dividend of $0.35 per share, to be paid on December 1st, representing an annualized dividend yield of 2.1%.

OLD National Bancorp IN boosted its position in The Kroger Co. (NYSE:KR - Free Report) by 32.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 243,131 shares of the company's stock after purchasing an additional 59,778 shares during the period. OLD National Bancorp IN's holdings in Kroger were worth $17,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC lifted its stake in Kroger by 1.9% in the second quarter. Wealthcare Advisory Partners LLC now owns 8,025 shares of the company's stock worth $576,000 after purchasing an additional 146 shares during the last quarter. Ergawealth Advisors Inc. bought a new stake in Kroger in the second quarter worth about $234,000. BridgePort Financial Solutions LLC bought a new stake in Kroger in the second quarter worth about $415,000. Clarius Group LLC lifted its stake in Kroger by 7.3% in the second quarter. Clarius Group LLC now owns 8,328 shares of the company's stock worth $597,000 after purchasing an additional 569 shares during the last quarter. Finally, AMF Tjanstepension AB increased its position in shares of Kroger by 99.1% during the second quarter. AMF Tjanstepension AB now owns 777,210 shares of the company's stock worth $55,771,000 after acquiring an additional 386,908 shares during the period. Institutional investors own 80.93% of the company's stock.

Insider Activity at Kroger

In related news, Director Clyde R. Moore sold 3,810 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $71.61, for a total transaction of $272,834.10. Following the completion of the sale, the director 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.44% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on KR. Barclays began coverage on shares of Kroger in a research report on Monday, July 21st. They set an "equal weight" rating and a $75.00 target price on the stock. Jefferies Financial Group set a $83.00 target price on shares of Kroger and gave the stock a "buy" rating in a research report on Monday, June 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Kroger in a research report on Saturday, September 27th. Evercore ISI raised their target price 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. Finally, Roth Mkm raised shares of Kroger from a "neutral" rating to a "buy" rating and raised their target price for the stock from $66.00 to $75.00 in a research report on Wednesday, September 17th. Ten investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.63.

Kroger Stock Down 0.1%

KR opened at $66.30 on Friday. The stock has a market capitalization of $43.93 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 1.93 and a beta of 0.57. The company has a fifty day moving average of $68.75 and a two-hundred day moving average of $69.00. 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 fifty-two week low of $54.88 and a fifty-two week high of $74.90.

Kroger (NYSE:KR - Get Free Report) last released its 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 company's quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.93 earnings per share. Kroger has set its FY 2025 guidance at 4.700-4.800 EPS. On average, research analysts expect 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. Stockholders of record on Friday, November 14th will be paid 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 2.1%. Kroger's payout ratio is currently 35.53%.

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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