The Kroger Co. (NYSE:KR) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC decreased its holdings in The Kroger Co. (NYSE:KR) by 65.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 200,915 shares of the company’s stock after selling 387,749 shares during the period. Lazard Asset Management LLC’s holdings in Kroger were worth $11,477,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Creekmur Asset Management LLC acquired a new position in shares of Kroger during the fourth quarter worth $26,000. Valued Wealth Advisors LLC grew its stake in shares of Kroger by 255.6% during the first quarter. Valued Wealth Advisors LLC now owns 448 shares of the company’s stock worth $26,000 after purchasing an additional 322 shares in the last quarter. SouthState Corp grew its stake in shares of Kroger by 334.3% during the fourth quarter. SouthState Corp now owns 595 shares of the company’s stock worth $27,000 after purchasing an additional 458 shares in the last quarter. Scarborough Advisors LLC acquired a new position in shares of Kroger during the fourth quarter worth $28,000. Finally, Hexagon Capital Partners LLC grew its stake in shares of Kroger by 101.6% during the first quarter. Hexagon Capital Partners LLC now owns 496 shares of the company’s stock worth $28,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Argus boosted their target price on shares of Kroger from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Evercore ISI dropped their price objective on Kroger from $61.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, June 20th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $62.00 price objective on shares of Kroger in a report on Monday, June 17th. StockNews.com raised Kroger from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 18th. Finally, Wolfe Research raised Kroger to a “strong-buy” rating in a report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $58.64.

Insiders Place Their Bets

In other Kroger news, VP Brian W. Nichols sold 2,000 shares of Kroger stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $54.53, for a total value of $109,060.00. Following the completion of the sale, the vice president now directly owns 18,063 shares of the company’s stock, valued at approximately $984,975.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Kroger Price Performance

Shares of KR traded up $0.96 during mid-day trading on Friday, reaching $54.27. 2,552,485 shares of the company’s stock were exchanged, compared to its average volume of 4,410,368. The company has a market cap of $39.17 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 0.84 and a beta of 0.45. The company has a quick ratio of 0.45, a current ratio of 0.86 and a debt-to-equity ratio of 0.97. The Kroger Co. has a 52-week low of $42.10 and a 52-week high of $58.34. The company has a 50-day simple moving average of $52.07 and a two-hundred day simple moving average of $51.97.

Kroger (NYSE:KR) last released its earnings results on Thursday, June 20th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.33 by $0.10. The firm had revenue of $45.27 billion during the quarter, compared to analysts’ expectations of $44.86 billion. Kroger had a net margin of 1.43% and a return on equity of 29.89%. Kroger’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company earned $1.51 EPS. On average, sell-side analysts predict that The Kroger Co. will post 4.45 EPS for the current fiscal year.

Kroger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th will be paid a $1.28 dividend. This is a boost from Kroger’s previous quarterly dividend of $0.29. This represents a $5.12 annualized dividend and a yield of 9.43%. The ex-dividend date is Thursday, August 15th. Kroger’s payout ratio is presently 39.59%.

Kroger Company Profile

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.