Empowered Funds LLC Raises Stake in The Kroger Co. (NYSE:KR)

Empowered Funds LLC increased its stake in The Kroger Co. (NYSE:KR) by 73.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,265 shares of the company’s stock after purchasing an additional 36,660 shares during the quarter. Empowered Funds LLC’s holdings in Kroger were worth $4,943,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KR. O Shaughnessy Asset Management LLC grew its holdings in Kroger by 29.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 302,444 shares of the company’s stock valued at $17,279,000 after purchasing an additional 68,516 shares during the last quarter. UniSuper Management Pty Ltd increased its holdings in Kroger by 303.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 25,355 shares of the company’s stock valued at $1,449,000 after acquiring an additional 19,065 shares in the last quarter. Arjuna Capital raised its position in Kroger by 6.3% during the first quarter. Arjuna Capital now owns 94,684 shares of the company’s stock worth $5,409,000 after acquiring an additional 5,591 shares during the last quarter. Lake Street Advisors Group LLC lifted its holdings in shares of Kroger by 13.1% in the first quarter. Lake Street Advisors Group LLC now owns 10,733 shares of the company’s stock valued at $613,000 after purchasing an additional 1,245 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Kroger by 12.5% during the 1st quarter. National Bank of Canada FI now owns 525,697 shares of the company’s stock worth $29,384,000 after purchasing an additional 58,580 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

KR has been the topic of a number of recent research reports. Argus upped their target price on Kroger from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Melius Research started coverage on Kroger in a research note on Monday, September 23rd. They set a “hold” rating and a $55.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on shares of Kroger from $58.00 to $59.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $62.00 price target on shares of Kroger in a research note on Wednesday, October 9th. Finally, Evercore ISI lifted their price target on shares of Kroger from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.09.

Insider Buying and Selling at Kroger

In other Kroger news, VP Brian W. Nichols sold 6,922 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $55.80, for a total value of $386,247.60. Following the completion of the transaction, the vice president now owns 14,063 shares in the company, valued at $784,715.40. This represents a 32.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Carin L. Fike sold 3,010 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $55.57, for a total transaction of $167,265.70. Following the completion of the sale, the vice president now directly owns 47,593 shares of the company’s stock, valued at $2,644,743.01. This trade represents a 5.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,932 shares of company stock valued at $721,243 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Kroger Stock Performance

NYSE:KR opened at $58.02 on Monday. The Kroger Co. has a fifty-two week low of $42.10 and a fifty-two week high of $60.35. The firm’s 50 day moving average is $56.39 and its two-hundred day moving average is $54.11. The company has a market cap of $41.98 billion, a P/E ratio of 15.19, a P/E/G ratio of 0.90 and a beta of 0.48. The company has a quick ratio of 0.46, a current ratio of 0.87 and a debt-to-equity ratio of 0.96.

Kroger (NYSE:KR) last issued its earnings results on Thursday, September 12th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The firm had revenue of $33.91 billion for the quarter, compared to analysts’ expectations of $34.09 billion. Kroger had a return on equity of 28.54% and a net margin of 1.86%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.96 earnings per share. Analysts expect that The Kroger Co. will post 4.46 EPS for the current year.

Kroger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.28 annualized dividend and a yield of 2.21%. Kroger’s payout ratio is 33.51%.

Kroger 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.