Raleigh Capital Management Inc. Grows Stock Position in The Kroger Co. (NYSE:KR)

by · The Cerbat Gem

Raleigh Capital Management Inc. grew its holdings in shares of The Kroger Co. (NYSE:KR – Free Report) by 13.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,476 shares of the company’s stock after purchasing an additional 1,033 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Kroger were worth $486,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KR. Hengehold Capital Management LLC grew its stake in shares of Kroger by 1.4% during the 1st quarter. Hengehold Capital Management LLC now owns 13,626 shares of the company’s stock valued at $778,000 after acquiring an additional 185 shares during the period. Jaffetilchin Investment Partners LLC grew its stake in shares of Kroger by 1.1% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 16,551 shares of the company’s stock valued at $826,000 after acquiring an additional 187 shares during the period. Dorsey & Whitney Trust CO LLC grew its stake in shares of Kroger by 2.8% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 6,922 shares of the company’s stock valued at $395,000 after acquiring an additional 190 shares during the period. Csenge Advisory Group grew its stake in shares of Kroger by 4.3% during the 1st quarter. Csenge Advisory Group now owns 4,610 shares of the company’s stock valued at $263,000 after acquiring an additional 191 shares during the period. Finally, Global Financial Private Client LLC grew its stake in shares of Kroger by 1.2% during the 1st quarter. Global Financial Private Client LLC now owns 17,112 shares of the company’s stock valued at $975,000 after acquiring an additional 196 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insiders Place Their Bets

In other Kroger news, VP Brian W. Nichols sold 6,922 shares of the stock in a transaction 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 sale, the vice president now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP Carin L. Fike sold 3,010 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $55.57, for a total transaction of $167,265.70. Following the transaction, the vice president now owns 47,593 shares of the company’s stock, valued at approximately $2,644,743.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian W. Nichols sold 6,922 shares of the stock in a transaction 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 transaction, the vice president now directly owns 14,063 shares in the company, valued at $784,715.40. The trade was a 0.00 % 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 worth $721,243 over the last quarter. Company insiders own 1.40% of the company’s stock.

Kroger Stock Performance

NYSE:KR opened at $56.35 on Tuesday. The stock’s fifty day moving average is $54.50 and its 200 day moving average is $53.84. The Kroger Co. has a fifty-two week low of $42.10 and a fifty-two week high of $58.34. The firm has a market capitalization of $40.67 billion, a PE ratio of 19.23, a PEG ratio of 0.87 and a beta of 0.47. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.46 and a current ratio of 0.87.

Kroger (NYSE:KR – Get Free Report) last released its quarterly earnings results on Thursday, September 12th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.02. Kroger had a return on equity of 28.54% and a net margin of 1.86%. The company had revenue of $33.91 billion for the quarter, compared to analyst estimates of $34.09 billion. During the same quarter in the prior year, the firm posted $0.96 EPS. Kroger’s quarterly revenue was up .2% compared to the same quarter last year. On average, sell-side analysts anticipate that The Kroger Co. will post 4.46 earnings per share for the current year.

Kroger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a $0.32 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.27%. Kroger’s payout ratio is 43.69%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on Kroger from $58.00 to $59.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Evercore ISI upped their price target on Kroger from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. Melius Research assumed coverage on Kroger in a research note on Monday, September 23rd. They issued a “hold” rating and a $55.00 price target for the company. BNP Paribas assumed coverage on Kroger in a research note on Friday. They issued a “neutral” rating and a $56.00 price target for the company. Finally, StockNews.com downgraded Kroger from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 16th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.09.

Read Our Latest Research Report on Kroger

Kroger Company Profile

(Free Report)

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.

Further Reading

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