Cambridge Investment Research Advisors Inc. Has $6.74 Million Stock Position in The Kroger Co. (NYSE:KR)

Cambridge Investment Research Advisors Inc. increased its position in shares of The Kroger Co. (NYSE:KR) by 11.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 134,903 shares of the company’s stock after acquiring an additional 14,163 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Kroger were worth $6,736,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Creekmur Asset Management LLC bought a new stake in shares of Kroger during the 4th quarter valued at $26,000. Valued Wealth Advisors LLC lifted its stake in Kroger by 255.6% in the first quarter. Valued Wealth Advisors LLC now owns 448 shares of the company’s stock valued at $26,000 after buying an additional 322 shares during the period. SouthState Corp boosted its holdings in Kroger by 334.3% during the fourth quarter. SouthState Corp now owns 595 shares of the company’s stock worth $27,000 after buying an additional 458 shares during the last quarter. Scarborough Advisors LLC acquired a new position in shares of Kroger during the 4th quarter worth about $28,000. Finally, Hexagon Capital Partners LLC increased its stake in shares of Kroger by 101.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 496 shares of the company’s stock valued at $28,000 after acquiring an additional 250 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Activity

In other Kroger news, VP Brian W. Nichols sold 2,000 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $54.53, for a total transaction of $109,060.00. Following the transaction, the vice president now owns 18,063 shares in the company, valued at approximately $984,975.39. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.40% of the stock is currently owned by company insiders.

Kroger Price Performance

Shares of NYSE KR opened at $53.26 on Thursday. 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 business’s 50 day moving average price is $52.68 and its two-hundred day moving average price is $53.15. The company has a market cap of $38.44 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 0.86 and a beta of 0.45. The Kroger Co. has a twelve month low of $42.10 and a twelve month high of $58.34.

Kroger (NYSE:KR) last released its quarterly earnings data on Thursday, June 20th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates 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%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.51 earnings per share. On average, analysts predict that The Kroger Co. will post 4.45 EPS for the current year.

Kroger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.32 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.40%. This is an increase from Kroger’s previous quarterly dividend of $0.29. Kroger’s dividend payout ratio (DPR) is currently 43.69%.

Analyst Ratings Changes

A number of analysts recently commented on KR shares. BMO Capital Markets upgraded shares of Kroger from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $58.00 to $60.00 in a research report on Tuesday, June 18th. Evercore ISI lowered their price target on Kroger from $61.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, June 20th. Telsey Advisory Group reiterated an “outperform” rating and set a $62.00 price objective on shares of Kroger in a report on Monday, June 17th. Morgan Stanley lowered their target price on Kroger from $58.00 to $57.00 and set an “equal weight” rating for the company in a research note on Monday, June 24th. Finally, JPMorgan Chase & Co. cut their price target on shares of Kroger from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $58.64.

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.