Wealth Enhancement Advisory Services LLC Acquires 105,574 Shares of The Kroger Co. $KR

Key Points

• Wealth Enhancement Advisory Services LLC increased its position in The Kroger Co. by 34.3%, owning 413,364 shares worth approximately $28.87 million as of its latest SEC filing.
• Kroger reported earnings per share of $1.04, exceeding analyst estimates, alongside a quarterly revenue of $33.94 billion, slightly below expectations.
• The company will pay a quarterly dividend of $0.35 per share on December 1st, with a current annualized yield of 2.1%.

Wealth Enhancement Advisory Services LLC raised its stake in shares of The Kroger Co. (NYSE:KR - Free Report) by 34.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 413,364 shares of the company's stock after purchasing an additional 105,574 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.06% of Kroger worth $28,865,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its holdings in shares of Kroger by 1.7% during the 1st quarter. Bessemer Group Inc. now owns 12,545 shares of the company's stock valued at $850,000 after buying an additional 213 shares in the last quarter. Diversified Trust Co boosted its stake in Kroger by 3.7% in 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 in the last quarter. Modern Wealth Management LLC bought a new position in Kroger in the 1st quarter worth about $654,000. IFP Advisors Inc boosted its stake in Kroger by 4.0% in the 1st quarter. IFP Advisors Inc now owns 8,967 shares of the company's stock worth $607,000 after purchasing an additional 348 shares in the last quarter. Finally, Focus Partners Wealth lifted its stake in Kroger by 19.5% during the 1st quarter. Focus Partners Wealth now owns 40,038 shares of the company's stock valued at $2,710,000 after acquiring an additional 6,547 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on KR shares. Telsey Advisory Group restated an "outperform" rating and set a $82.00 target price on shares of Kroger in a research note on Thursday, September 11th. Roth Capital upgraded shares of Kroger from a "neutral" rating to a "buy" rating and set a $75.00 target price on the stock in a research note on Wednesday, September 17th. Evercore ISI upped their target price on shares of Kroger from $80.00 to $82.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. Jefferies Financial Group set a $83.00 target price on shares of Kroger and gave the company a "buy" rating in a research note on Monday, June 23rd. Finally, Guggenheim restated a "buy" rating and set a $78.00 target price on shares of Kroger in a research note on Friday, September 12th. Nine analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $73.63.

Insider Buying and Selling

In related news, EVP Gabriel Arreaga sold 37,960 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $72.44, for a total value of $2,749,822.40. Following the completion of the sale, the executive vice president directly owned 75,218 shares of the company's stock, valued at approximately $5,448,791.92. This represents a 33.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Clyde R. Moore sold 3,810 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $71.61, for a total transaction of $272,834.10. Following the completion of the sale, the director directly owned 85,850 shares of the company's stock, valued at $6,147,718.50. This represents a 4.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,834 shares of company stock valued at $7,350,274. 0.44% of the stock is owned by corporate insiders.

Kroger Stock Performance

Shares of NYSE KR traded up $0.33 during midday trading on Tuesday, hitting $64.85. 1,576,461 shares of the company's stock traded hands, compared to its average volume of 7,206,167. The Kroger Co. has a 1 year low of $54.88 and a 1 year high of $74.90. The stock has a market capitalization of $42.86 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 1.91 and a beta of 0.60. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.54 and a current ratio of 0.95. The firm has a fifty day moving average of $69.83 and a 200 day moving average of $69.02.

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 analyst estimates of $34.08 billion. Kroger had a net margin of 1.86% and a return on equity of 32.62%. The business's revenue for the quarter was up .1% compared to the same quarter last year. 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, analysts forecast that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, November 14th. Kroger's dividend payout ratio is currently 35.53%.

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.