Truist Financial Corp Boosts Stock Position in The Kroger Co. $KR

Key Points

• Truist Financial Corp increased its stake in The Kroger Co. by 7.1% during Q2, owning 208,362 shares valued at approximately $14.95 million.
• Kroger reported Q2 earnings of $1.04 EPS, surpassing estimates, but revenue of $33.94 billion fell short of the expected $34.08 billion.
• The company declared a quarterly dividend of $0.35 per share, set to be paid on December 1st, representing an annualized dividend yield of 2.1%.

Truist Financial Corp grew its holdings in The Kroger Co. (NYSE:KR - Free Report) by 7.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 208,362 shares of the company's stock after acquiring an additional 13,737 shares during the period. Truist Financial Corp's holdings in Kroger were worth $14,946,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in KR. Bessemer Group Inc. boosted its position in Kroger by 1.7% during the first quarter. Bessemer Group Inc. now owns 12,545 shares of the company's stock worth $850,000 after purchasing an additional 213 shares in the last quarter. Diversified Trust Co boosted its holdings in shares of 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 purchasing an additional 229 shares during the last quarter. Sowell Financial Services LLC grew its holdings in Kroger by 8.1% in the 2nd quarter. Sowell Financial Services LLC now owns 51,805 shares of the company's stock valued at $3,716,000 after buying an additional 3,869 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in Kroger by 4.8% in the 2nd quarter. IFM Investors Pty Ltd now owns 115,687 shares of the company's stock valued at $8,298,000 after purchasing an additional 5,325 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Kroger by 69.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 24,468 shares of the company's stock valued at $1,755,000 after purchasing an additional 10,039 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Kroger Trading Down 0.1%

KR opened at $66.30 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.95 and a debt-to-equity ratio of 1.85. The firm has a market cap of $43.93 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 1.93 and a beta of 0.57. The business's 50 day moving average is $68.75 and its two-hundred day moving average is $69.00. The Kroger Co. has a 52 week low of $54.88 and a 52 week high of $74.90.

Kroger (NYSE:KR - Get Free Report) last released its quarterly earnings results on Thursday, September 11th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. The firm had revenue of $33.94 billion during the quarter, compared to the consensus estimate of $34.08 billion. Kroger had a net margin of 1.86% and a return on equity of 32.62%. Kroger's revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 EPS. Kroger has set its FY 2025 guidance at 4.700-4.800 EPS. On average, research analysts predict that The Kroger Co. will post 4.44 EPS for the current 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 paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, November 14th. Kroger's payout ratio is 35.53%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in 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 note on Monday, June 23rd. Telsey Advisory Group reissued an "outperform" rating and issued a $82.00 price objective on shares of Kroger in a research note on Thursday, September 11th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $75.00 price objective (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 report on Monday, July 21st. They set an "equal weight" rating and a $75.00 target price on the stock. Finally, Wall Street Zen cut shares of Kroger from a "strong-buy" rating to a "buy" rating in a research report on Sunday, September 21st. Ten equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $73.63.

Insider Activity

In other news, Director Clyde R. Moore sold 26,814 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $70.50, for a total value of $1,890,387.00. Following the completion of the sale, the director directly owned 99,143 shares of the company's stock, valued at $6,989,581.50. This trade represents a 21.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.

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