Mirae Asset Global Investments Co. Ltd. Has $4.55 Million Stake in The Kroger Co. (NYSE:KR)

Mirae Asset Global Investments Co. Ltd. cut its stake in shares of The Kroger Co. (NYSE:KR) by 13.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 80,566 shares of the company’s stock after selling 12,549 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Kroger were worth $4,554,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in KR. Hexagon Capital Partners LLC raised its stake in 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 buying an additional 250 shares during the last quarter. Palisade Asset Management LLC bought a new position in shares of Kroger in the 1st quarter worth about $29,000. Altshuler Shaham Ltd acquired a new position in shares of Kroger in the 2nd quarter valued at about $28,000. Northwest Investment Counselors LLC bought a new stake in shares of Kroger during the 3rd quarter valued at about $34,000. Finally, Newbridge Financial Services Group Inc. grew its stake in Kroger by 218.8% during the second quarter. Newbridge Financial Services Group Inc. now owns 714 shares of the company’s stock worth $36,000 after purchasing an additional 490 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Kroger Price Performance

KR stock opened at $55.99 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.46 and a current ratio of 0.87. The business has a 50-day simple moving average of $55.00 and a two-hundred day simple moving average of $53.87. The company has a market capitalization of $40.41 billion, a P/E ratio of 19.11, a price-to-earnings-growth ratio of 0.87 and a beta of 0.47. The Kroger Co. has a 52-week low of $42.10 and a 52-week high of $58.34.

Kroger (NYSE:KR) last announced its earnings results on Thursday, September 12th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. The company 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%. Kroger’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.96 earnings per share. Research analysts expect that The Kroger Co. will post 4.46 EPS for the current fiscal year.

Kroger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Friday, November 15th. Kroger’s payout ratio is currently 43.69%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on KR shares. BNP Paribas started coverage on Kroger in a report on Friday, October 18th. They set a “neutral” rating and a $56.00 price target on the stock. Evercore ISI increased their target price on shares of Kroger from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. Morgan Stanley lifted their price target on shares of Kroger from $57.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Telsey Advisory Group reissued an “outperform” rating and set a $62.00 price objective on shares of Kroger in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. boosted their target price on Kroger from $58.00 to $59.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kroger has a consensus rating of “Moderate Buy” and an average price target of $60.09.

Insider Buying and Selling

In other Kroger news, VP Brian W. Nichols sold 6,922 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $55.80, for a total value of $386,247.60. Following the completion of the sale, the vice president now owns 14,063 shares in the company, valued at approximately $784,715.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Valerie L. Jabbar sold 3,000 shares of Kroger 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 sale, the senior vice president now directly owns 74,084 shares in the company, valued at $4,142,036.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brian W. Nichols sold 6,922 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $55.80, for a total transaction of $386,247.60. Following the completion of the transaction, the vice president now directly owns 14,063 shares in the company, valued at $784,715.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,932 shares of company stock worth $721,243. 1.40% of the stock is owned by insiders.

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.