Public Sector Pension Investment Board Acquires 11,491 Shares of The Kroger Co. (NYSE:KR)

Public Sector Pension Investment Board raised its holdings in shares of The Kroger Co. (NYSE:KR) by 95.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,567 shares of the company’s stock after acquiring an additional 11,491 shares during the quarter. Public Sector Pension Investment Board’s holdings in Kroger were worth $1,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in KR. Maj Invest Holding A S purchased a new position in shares of Kroger in the first quarter valued at $185,913,000. Dimensional Fund Advisors LP grew its holdings in Kroger by 5.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,591,402 shares of the company’s stock valued at $678,562,000 after buying an additional 723,771 shares in the last quarter. State of Michigan Retirement System increased its position in shares of Kroger by 337.4% during the second quarter. State of Michigan Retirement System now owns 922,487 shares of the company’s stock valued at $46,060,000 after buying an additional 711,600 shares during the period. National Bank of Canada FI lifted its holdings in shares of Kroger by 127.2% in the second quarter. National Bank of Canada FI now owns 1,194,137 shares of the company’s stock worth $60,333,000 after buying an additional 668,440 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Kroger by 86.4% in the first quarter. BNP Paribas Financial Markets now owns 1,274,995 shares of the company’s stock valued at $72,840,000 after acquiring an additional 590,818 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity at Kroger

In other Kroger news, SVP Valerie L. Jabbar sold 3,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $55.91, for a total value of $167,730.00. Following the transaction, the senior vice president now owns 74,084 shares in the company, valued at $4,142,036.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Carin L. Fike sold 3,010 shares of Kroger stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $55.57, for a total value of $167,265.70. Following the sale, the vice president now owns 47,593 shares in the company, valued at $2,644,743.01. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Valerie L. Jabbar sold 3,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $55.91, for a total transaction of $167,730.00. Following the completion of the transaction, the senior vice president now owns 74,084 shares of the company’s stock, valued at $4,142,036.44. The disclosure for this sale can be found here. Insiders sold 8,010 shares of company stock worth $444,056 in the last three months. 1.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

KR has been the topic of several recent analyst reports. Melius Research initiated coverage on shares of Kroger in a research note on Monday, September 23rd. They issued a “hold” rating and a $55.00 target price on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $62.00 price objective on shares of Kroger in a research note on Monday, September 9th. StockNews.com cut Kroger from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. lifted their price target on Kroger from $58.00 to $59.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Finally, Wolfe Research upgraded shares of Kroger to a “strong-buy” rating in a research report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Kroger presently has an average rating of “Moderate Buy” and an average price target of $59.36.

Kroger Price Performance

Shares of NYSE:KR opened at $56.71 on Wednesday. The company’s fifty day moving average is $53.98 and its 200 day moving average is $53.93. The company has a quick ratio of 0.46, a current ratio of 0.87 and a debt-to-equity ratio of 0.96. The Kroger Co. has a 52 week low of $42.10 and a 52 week high of $58.34. The stock has a market cap of $40.93 billion, a PE ratio of 19.35, a PEG ratio of 0.87 and a beta of 0.47.

Kroger (NYSE:KR) last released 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 company had revenue of $33.91 billion during the quarter, compared to analyst estimates of $34.09 billion. Kroger had a return on equity of 28.54% and a net margin of 1.86%. Kroger’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.96 EPS. Research analysts anticipate that The Kroger Co. will post 4.46 earnings per share for the current year.

Kroger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, November 15th. Kroger’s payout ratio is 43.69%.

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.