Perigon Wealth Management LLC Takes $425,000 Position in Kroger Co (NYSE:KR)

Perigon Wealth Management LLC purchased a new stake in shares of Kroger Co (NYSE:KR) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 12,557 shares of the company’s stock, valued at approximately $425,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Archer Investment Corp grew its stake in shares of Kroger by 3.4% during the first quarter. Archer Investment Corp now owns 9,675 shares of the company’s stock valued at $291,000 after purchasing an additional 315 shares during the last quarter. Dowling & Yahnke LLC boosted its stake in Kroger by 1.1% in the first quarter. Dowling & Yahnke LLC now owns 30,241 shares of the company’s stock valued at $911,000 after acquiring an additional 335 shares during the last quarter. Horrell Capital Management Inc. boosted its stake in Kroger by 0.6% in the first quarter. Horrell Capital Management Inc. now owns 62,322 shares of the company’s stock valued at $1,877,000 after acquiring an additional 342 shares during the last quarter. Optimum Investment Advisors boosted its stake in Kroger by 33.2% in the second quarter. Optimum Investment Advisors now owns 1,403 shares of the company’s stock valued at $47,000 after acquiring an additional 350 shares during the last quarter. Finally, Enterprise Financial Services Corp boosted its stake in Kroger by 50.0% in the first quarter. Enterprise Financial Services Corp now owns 1,158 shares of the company’s stock valued at $35,000 after acquiring an additional 386 shares during the last quarter. 77.77% of the stock is currently owned by institutional investors and hedge funds.

In other Kroger news, CEO W Rodney Mcmullen sold 85,381 shares of Kroger stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $31.97, for a total value of $2,729,630.57. Following the sale, the chief executive officer now directly owns 3,097,481 shares in the company, valued at approximately $99,026,467.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Carin L. Fike sold 968 shares of Kroger stock in a transaction on Thursday, July 16th. The shares were sold at an average price of $33.97, for a total transaction of $32,882.96. The disclosure for this sale can be found here. Insiders sold a total of 224,059 shares of company stock worth $7,485,124 over the last quarter. Company insiders own 1.34% of the company’s stock.

A number of brokerages have issued reports on KR. Wells Fargo & Co raised their price objective on shares of Kroger from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. MKM Partners began coverage on shares of Kroger in a research note on Wednesday. They issued a “neutral” rating and a $40.00 price objective on the stock. Deutsche Bank raised their price objective on shares of Kroger from $33.00 to $35.00 in a research note on Friday, June 19th. Oppenheimer initiated coverage on shares of Kroger in a research note on Thursday, June 18th. They issued a “hold” rating and a $34.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of Kroger from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, May 21st. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $34.13.

Shares of NYSE:KR opened at $34.79 on Friday. Kroger Co has a 12 month low of $20.91 and a 12 month high of $36.84. The company has a quick ratio of 0.40, a current ratio of 0.83 and a debt-to-equity ratio of 2.02. The company’s fifty day simple moving average is $33.42 and its 200 day simple moving average is $31.42. The firm has a market cap of $27.06 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 2.23 and a beta of 0.38.

Kroger (NYSE:KR) last issued its quarterly earnings data on Thursday, June 18th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. Kroger had a net margin of 1.66% and a return on equity of 24.62%. The business had revenue of $41.55 billion for the quarter, compared to analyst estimates of $40.92 billion. During the same period last year, the business posted $0.72 earnings per share. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. Research analysts expect that Kroger Co will post 2.84 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a $0.72 dividend. This is a positive change from Kroger’s previous quarterly dividend of $0.16. This represents a $2.88 annualized dividend and a yield of 8.28%. The ex-dividend date of this dividend is Thursday, August 13th. Kroger’s payout ratio is presently 29.09%.

Kroger Profile

The Kroger Co operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. 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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Institutional Ownership by Quarter for Kroger (NYSE:KR)

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