Weaver C. Barksdale & Associates Inc. Reduces Stock Holdings in The Kroger Co. (NYSE:KR)

Weaver C. Barksdale & Associates Inc. reduced its position in The Kroger Co. (NYSE:KR) by 1.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,291 shares of the company’s stock after selling 583 shares during the quarter. Weaver C. Barksdale & Associates Inc.’s holdings in Kroger were worth $1,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Canada Pension Plan Investment Board lifted its stake in shares of Kroger by 10.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,154,946 shares of the company’s stock valued at $107,596,000 after buying an additional 211,400 shares in the last quarter. Brighton Jones LLC boosted its holdings in shares of Kroger by 18.5% in the second quarter. Brighton Jones LLC now owns 13,170 shares of the company’s stock worth $658,000 after acquiring an additional 2,057 shares during the period. Intech Investment Management LLC grew its position in shares of Kroger by 21.9% in the second quarter. Intech Investment Management LLC now owns 565,502 shares of the company’s stock valued at $28,236,000 after purchasing an additional 101,450 shares in the last quarter. MQS Management LLC purchased a new stake in Kroger during the 2nd quarter worth about $432,000. Finally, XTX Topco Ltd bought a new position in Kroger in the 2nd quarter worth about $1,536,000. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KR. Morgan Stanley increased their price target on shares of Kroger from $57.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. Telsey Advisory Group reiterated an “outperform” rating and issued a $62.00 target price on shares of Kroger in a research note on Monday, September 9th. JPMorgan Chase & Co. boosted their price target on shares of Kroger from $58.00 to $59.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. StockNews.com downgraded Kroger from a “strong-buy” rating to a “buy” rating in a research report on Monday. Finally, BMO Capital Markets raised Kroger from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $58.00 to $60.00 in a research note on Tuesday, June 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $59.09.

Insider Buying and Selling

In related news, VP Brian W. Nichols sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $54.53, for a total value of $109,060.00. Following the sale, the vice president now owns 18,063 shares in the company, valued at approximately $984,975.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Brian W. Nichols sold 2,000 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $54.53, for a total value 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. Also, VP Carin L. Fike sold 3,010 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $55.57, for a total transaction of $167,265.70. Following the sale, the vice president now owns 47,593 shares of the company’s stock, valued at $2,644,743.01. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Kroger Price Performance

Shares of NYSE:KR opened at $54.83 on Friday. The company’s fifty day moving average is $53.60 and its 200 day moving average is $53.79. 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 stock has a market cap of $39.58 billion, a PE ratio of 18.71, a PEG ratio of 0.80 and a beta of 0.47.

Kroger (NYSE:KR) last issued its quarterly earnings data on Thursday, September 12th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. Kroger had a return on equity of 29.89% and a net margin of 1.43%. The firm had revenue of $33.91 billion for the quarter, compared to analyst estimates of $34.09 billion. During the same period last year, the company earned $0.96 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. Research analysts anticipate that The Kroger Co. will post 4.45 earnings per share for the current year.

Kroger Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a $0.32 dividend. This is an increase from Kroger’s previous quarterly dividend of $0.29. The ex-dividend date was Thursday, August 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.33%. Kroger’s dividend 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.