State of New Jersey Common Pension Fund D Has $15.52 Million Stock Holdings in The Kroger Co. $KR

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in The Kroger Co. by 8.4%, selling 21,133 shares and holding 229,328 shares valued at $15,523,000.
• Kroger recently reported a quarterly EPS of $1.49, slightly above analyst expectations, although its revenue of $45.12 billion was down 0.3% year-over-year.
• The company announced an increase in its quarterly dividend to $0.35 per share, resulting in an annualized yield of 2.0% and a dividend payout ratio of 38.15%.

State of New Jersey Common Pension Fund D lowered its stake in The Kroger Co. (NYSE:KR - Free Report) by 8.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 229,328 shares of the company's stock after selling 21,133 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Kroger were worth $15,523,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in KR. Bessemer Group Inc. grew its position in shares of Kroger by 1.7% during the 1st quarter. Bessemer Group Inc. now owns 12,545 shares of the company's stock worth $850,000 after buying an additional 213 shares during the period. Diversified Trust Co boosted its stake in Kroger by 3.7% during the 1st quarter. Diversified Trust Co now owns 6,429 shares of the company's stock worth $435,000 after acquiring an additional 229 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Kroger by 8.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 307,790 shares of the company's stock valued at $20,834,000 after purchasing an additional 24,849 shares during the period. IFP Advisors Inc increased its stake in Kroger by 4.0% in the first quarter. IFP Advisors Inc now owns 8,967 shares of the company's stock valued at $607,000 after purchasing an additional 348 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in Kroger by 67.2% in the first quarter. Golden State Wealth Management LLC now owns 1,336 shares of the company's stock worth $90,000 after purchasing an additional 537 shares during the period. Institutional investors own 80.93% of the company's stock.

Insider Buying and Selling

In related news, Director Clyde R. Moore sold 26,814 shares of Kroger stock in a transaction dated Friday, July 11th. The stock was 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 approximately $6,989,581.50. This trade represents a 21.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mary Ellen Adcock sold 34,250 shares of the company's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $71.16, for a total value of $2,437,230.00. Following the completion of the sale, the executive vice president owned 184,473 shares in the company, valued at $13,127,098.68. This represents a 15.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,948 shares of company stock worth $14,422,926. Corporate insiders own 0.44% of the company's stock.

Kroger Stock Up 1.4%

Shares of NYSE KR traded up $1.0120 during mid-day trading on Wednesday, hitting $71.7320. The company had a trading volume of 5,309,957 shares, compared to its average volume of 7,096,598. The company has a current ratio of 0.95, a quick ratio of 0.53 and a debt-to-equity ratio of 1.92. The firm has a 50-day simple moving average of $70.60 and a two-hundred day simple moving average of $68.44. The company has a market capitalization of $47.41 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 2.22 and a beta of 0.59. The Kroger Co. has a one year low of $50.69 and a one year high of $74.90.

Kroger (NYSE:KR - Get Free Report) last issued its quarterly earnings results on Friday, June 20th. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.45 by $0.04. The firm had revenue of $45.12 billion during the quarter, compared to analysts' expectations of $45.35 billion. Kroger had a return on equity of 34.71% and a net margin of 1.89%.The business's quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.43 earnings per share. Kroger has set its FY 2025 guidance at 4.600-4.800 EPS. On average, equities analysts expect that The Kroger Co. will post 4.44 EPS for the current year.

Kroger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be paid a $0.35 dividend. This is an increase from Kroger's previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, August 15th. Kroger's dividend payout ratio is 38.15%.

Analyst Upgrades and Downgrades

KR has been the subject of a number of recent analyst reports. UBS Group restated a "neutral" rating and issued a $74.00 price objective (up previously from $66.00) on shares of Kroger in a research report on Monday, June 23rd. Guggenheim increased their target price on Kroger from $73.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Barclays began coverage on shares of Kroger in a report on Monday, July 21st. They issued an "equal weight" rating and a $75.00 price target for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Kroger from $57.00 to $67.00 and gave the company a "hold" rating in a research report on Monday, June 23rd. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $82.00 target price (up previously from $73.00) on shares of Kroger in a report on Friday, June 20th. Seven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $70.58.

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.