The Kroger Co. $KR Shares Purchased by State of Michigan Retirement System

Key Points

• State of Michigan Retirement System increased its Kroger stake by 133.3%, buying 795,700 shares to own 1,392,587 shares (about $87.0 million or 0.22% of Kroger) in the fourth quarter.
• Kroger beat EPS ($1.28 vs. $1.20 est.) but missed revenue, reported a thin net margin (0.69%) and elevated debt-to-equity (2.66), set FY2026 guidance of 5.10–5.30 EPS, and declared a $0.35 quarterly dividend (2.1% yield; 91.5% payout ratio).

State of Michigan Retirement System grew its position in shares of The Kroger Co. (NYSE:KR - Free Report) by 133.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,392,587 shares of the company's stock after buying an additional 795,700 shares during the period. State of Michigan Retirement System owned about 0.22% of Kroger worth $87,009,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Kroger by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 77,169,425 shares of the company's stock worth $4,821,546,000 after purchasing an additional 868,529 shares during the period. Wellington Management Group LLP raised its holdings in shares of Kroger by 61.1% during the third quarter. Wellington Management Group LLP now owns 33,367,551 shares of the company's stock worth $2,249,307,000 after purchasing an additional 12,652,261 shares during the period. State Street Corp raised its holdings in shares of Kroger by 1.2% during the third quarter. State Street Corp now owns 31,948,112 shares of the company's stock worth $2,153,622,000 after purchasing an additional 386,503 shares during the period. Invesco Ltd. lifted its position in shares of Kroger by 15.8% in the 3rd quarter. Invesco Ltd. now owns 6,327,182 shares of the company's stock worth $426,515,000 after buying an additional 865,559 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Kroger by 66.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 5,255,084 shares of the company's stock valued at $354,245,000 after buying an additional 2,100,444 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Key Stories Impacting Kroger

Here are the key news stories impacting Kroger this week:

• Positive Sentiment: Kroger is boosting customer value with targeted promotions and pricing initiatives (Online Deal Days and other savings) to protect market share amid rising grocery costs. Kroger launches online deal days amid rising food costs
• Positive Sentiment: Retail footprint and store investment: multiple store remodels and a new, large Kroger Marketplace (Mechanicsville) signal continued capital reinvestment to drive sales and compete with big-box rivals. Kroger Completes $2M Store Remodel in Illinois
• Positive Sentiment: Grocery + fuel strategy: reporting and analysis highlight Kroger’s gas pricing competitiveness vs. Costco and Walmart — a differentiated traffic driver that can protect basket spend. Kroger quietly builds a massive gas edge over Costco, Walmart
• Positive Sentiment: New product partnerships and assortment expansion (Beyond Meat nationwide rollout in 2,000+ stores; Rancher’s Premium Smokehouse products hitting Kroger shelves) support incremental sales and fresh inventory buzz. Rancher’s Premium Smokehouse Teams Up with Kroger
• Neutral Sentiment: Workforce and talent initiatives (Pearl Street Academy, Platinum workforce rating, expanded associate education) are long-term positives for retention but increase near-term operating investment. How Kroger’s New Shelf Registration and Workforce Push Could Shape Kroger (KR) Investors’ Outlook
• Neutral Sentiment: Kroger filed an omnibus shelf registration (debt, preferred/common, warrants) — provides financing flexibility but raises the possibility of future issuance that investors will watch closely. Shelf registration article
• Neutral Sentiment: Community initiatives (drug take-back events across multiple states) support brand and local engagement but are unlikely to move near-term financials. Kroger hosting drug take back events across metro Atlanta
• Negative Sentiment: Financial/valuation concerns: last quarter Kroger beat EPS modestly but missed revenue estimates, reported thin net margins and carries elevated debt-to-equity — investors may be selling into the company’s continued investment cycle and the risk of margin pressure from inflation and higher associate costs.

Kroger Price Performance

Shares of NYSE:KR opened at $67.26 on Monday. The firm's 50 day moving average is $70.56 and its two-hundred day moving average is $66.82. The firm has a market capitalization of $41.20 billion, a P/E ratio of 43.96, a PEG ratio of 1.79 and a beta of 0.55. The company has a current ratio of 0.80, a quick ratio of 0.42 and a debt-to-equity ratio of 2.66. The Kroger Co. has a 52 week low of $58.60 and a 52 week high of $76.58.

Kroger (NYSE:KR - Get Free Report) last issued its quarterly earnings data on Thursday, March 5th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.08. Kroger had a return on equity of 41.08% and a net margin of 0.69%.The business had revenue of $34.73 billion during the quarter, compared to the consensus estimate of $35.10 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The business's revenue was up 1.2% on a year-over-year basis. Kroger has set its FY 2026 guidance at 5.100-5.300 EPS. Analysts anticipate that The Kroger Co. will post 5.24 earnings per share for the current year.

Kroger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, May 15th. Kroger's payout ratio is 91.50%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on KR shares. Deutsche Bank Aktiengesellschaft raised shares of Kroger from a "hold" rating to a "buy" rating and set a $75.00 price objective for the company in a research report on Thursday, January 8th. Wall Street Zen upgraded Kroger from a "hold" rating to a "buy" rating in a research note on Saturday, April 4th. Morgan Stanley set a $73.00 price target on Kroger and gave the stock an "equal weight" rating in a research report on Thursday, March 5th. Wolfe Research reissued an "outperform" rating and issued a $75.00 price target on shares of Kroger in a report on Thursday, March 5th. Finally, Jefferies Financial Group restated a "buy" rating and set a $82.00 price objective on shares of Kroger in a research report on Thursday, March 5th. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Kroger currently has an average rating of "Moderate Buy" and a consensus target price of $74.56.

About Kroger

The Kroger Co NYSE: KR is one of the largest supermarket operators in the United States, offering a wide range of retail grocery and related services. Founded in Cincinnati in 1883 by Bernard Kroger, the company operates a portfolio of supermarket and multi-department store banners and provides customers with fresh foods, packaged groceries, deli and bakery items, meat and seafood, produce, and prepared foods. Kroger's stores commonly include pharmacy services and fuel centers, positioning the company as a broad-based neighborhood retail destination for everyday needs.

In addition to traditional in-store retailing, Kroger manufactures and distributes a variety of private-label brands and operates its own food production and supply-chain facilities.

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