Park Avenue Securities LLC Has $3.10 Million Stock Position in The Kroger Co. $KR

Key Points

• Park Avenue Securities LLC increased its holdings in The Kroger Co. by 18.2%, totaling 43,170 shares valued at approximately $3.1 million.
• Kroger recently announced a quarterly dividend of $0.35 per share, with a payout ratio of 35.53% and a dividend yield of 2.1%.
• The company's latest earnings report showed a quarterly revenue of $33.94 billion, surpassing expectations, while reporting earnings per share at $1.04, slightly above the consensus estimate of $1.00.

Park Avenue Securities LLC lifted its position in The Kroger Co. (NYSE:KR - Free Report) by 18.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,170 shares of the company's stock after acquiring an additional 6,654 shares during the period. Park Avenue Securities LLC's holdings in Kroger were worth $3,097,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Accent Capital Management LLC purchased a new position in Kroger during the 1st quarter worth approximately $25,000. Garde Capital Inc. purchased a new position in shares of Kroger during the first quarter valued at $31,000. Capital Analysts LLC acquired a new position in Kroger during the first quarter valued at $36,000. Sound Income Strategies LLC lifted its stake in Kroger by 46.7% in the 1st quarter. Sound Income Strategies LLC now owns 550 shares of the company's stock worth $37,000 after acquiring an additional 175 shares in the last quarter. Finally, GKV Capital Management Co. Inc. acquired a new stake in Kroger during the 1st quarter worth about $38,000. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insiders Place Their Bets

In other Kroger news, Director Clyde R. Moore sold 3,810 shares of the business's stock in a transaction on 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 transaction, the director owned 85,850 shares of the company's stock, valued at $6,147,718.50. The trade was a 4.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mary Ellen Adcock sold 34,250 shares of the company's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $71.16, for a total transaction of $2,437,230.00. Following the sale, the executive vice president owned 184,473 shares of the company's stock, valued at $13,127,098.68. This trade represents a 15.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,874 shares of company stock valued at $4,600,451 over the last 90 days. 0.44% of the stock is owned by corporate insiders.

Kroger Trading Up 1.3%

Shares of NYSE:KR opened at $65.35 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.54 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $43.31 billion, a PE ratio of 16.59, a P/E/G ratio of 1.88 and a beta of 0.59. The Kroger Co. has a 1 year low of $54.88 and a 1 year high of $74.90. The firm has a fifty day moving average price of $69.70 and a 200 day moving average price of $68.99.

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

Kroger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a $0.35 dividend. 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 dividend payout ratio (DPR) is currently 35.53%.

Analysts Set New Price Targets

KR has been the topic of a number of research reports. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $75.00 target price (down previously from $82.00) on shares of Kroger in a report on Wednesday, August 20th. Barclays assumed coverage on shares of Kroger in a research report on Monday, July 21st. They issued an "equal weight" rating and a $75.00 target price for the company. Roth Mkm upgraded shares of Kroger from a "neutral" rating to a "buy" rating and boosted their price target for the company from $66.00 to $75.00 in a report on Wednesday, September 17th. Roth Capital upgraded Kroger from a "neutral" rating to a "buy" rating and set a $75.00 price objective for the company in a report on Wednesday, September 17th. Finally, UBS Group reissued a "neutral" rating and set a $74.00 price objective (up previously from $66.00) on shares of Kroger in a research report on Monday, June 23rd. Nine analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $73.63.

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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