Zurcher Kantonalbank Zurich Cantonalbank Purchases 17,385 Shares of The Kroger Co. (NYSE:KR)

Key Points

• Zurcher Kantonalbank increased its stake in Kroger Co. by 6.0%, holding 307,478 shares worth approximately $20.8 million at the end of the first quarter.
• Kroger's recent quarterly earnings exceeded estimates, reporting $1.49 earnings per share, although revenue declined by 0.3% compared to the previous year.
• The company declared a quarterly dividend of $0.35 per share, marking an increase from the previous $0.32 dividend, with a current yield of 2.02% and a payout ratio of 34.88%.

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in The Kroger Co. (NYSE:KR - Free Report) by 6.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 307,478 shares of the company's stock after purchasing an additional 17,385 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Kroger were worth $20,813,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Transce3nd LLC bought a new stake in Kroger during the 4th quarter valued at $28,000. Garde Capital Inc. acquired a new position in shares of Kroger in the 1st quarter valued at about $31,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Kroger in the 4th quarter valued at about $34,000. Sound Income Strategies LLC raised its holdings 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 purchasing an additional 175 shares during the period. Finally, Mascagni Wealth Management Inc. acquired a new position in Kroger in the 4th quarter worth about $49,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on KR shares. Melius upgraded Kroger from a "sell" rating to a "hold" rating and set a $70.00 price objective for the company in a research note on Tuesday, May 20th. Evercore ISI decreased their price objective on Kroger from $76.00 to $75.00 and set an "outperform" rating on the stock in a report on Tuesday, June 17th. Wall Street Zen upgraded Kroger from a "buy" rating to a "strong-buy" rating in a research note on Friday, July 18th. UBS Group reiterated a "neutral" rating and issued a $74.00 price objective (up from $66.00) on shares of Kroger in a research note on Monday, June 23rd. Finally, Melius Research raised Kroger from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 20th. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Kroger currently has an average rating of "Moderate Buy" and an average target price of $70.16.

Kroger Trading Up 1.4%

NYSE:KR traded up $0.96 during trading hours on Friday, hitting $71.06. The stock had a trading volume of 3,623,917 shares, compared to its average volume of 7,102,831. The Kroger Co. has a one year low of $50.69 and a one year high of $74.11. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.53 and a current ratio of 0.95. The company has a market cap of $46.96 billion, a price-to-earnings ratio of 19.36, a P/E/G ratio of 2.21 and a beta of 0.59. The business's 50 day moving average is $69.36 and its 200-day moving average is $67.28.

Kroger (NYSE:KR - Get Free Report) last announced its earnings results on Friday, June 20th. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.45 by $0.04. The business had revenue of $45.12 billion during the quarter, compared to analysts' expectations of $45.35 billion. Kroger had a net margin of 1.76% and a return on equity of 30.01%. The firm's revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.43 earnings per share. Sell-side analysts anticipate that The Kroger Co. will post 4.44 EPS for the current fiscal year.

Kroger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be given a dividend of $0.35 per share. This is a positive change 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 of this dividend is Friday, August 15th. Kroger's payout ratio is 38.15%.

Insider Buying and Selling at Kroger

In other Kroger news, EVP Yael Cosset sold 71,224 shares of the firm's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $73.49, for a total value of $5,234,251.76. Following the transaction, the executive vice president directly owned 139,124 shares of the company's stock, valued at $10,224,222.76. This trade represents a 33.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mary Ellen Adcock sold 34,250 shares of the firm'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 transaction of $2,437,230.00. Following the completion of the sale, the executive vice president owned 184,473 shares in the company, valued at approximately $13,127,098.68. The trade was a 15.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 198,948 shares of company stock valued at $14,422,926 in the last quarter. Company insiders own 0.44% of the company's stock.

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.