Lazard Asset Management LLC Has $11.48 Million Stock Position in The Kroger Co. (NYSE:KR)

Lazard Asset Management LLC decreased its holdings in shares of The Kroger Co. (NYSE:KR) by 65.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 200,915 shares of the company’s stock after selling 387,749 shares during the quarter. Lazard Asset Management LLC’s holdings in Kroger were worth $11,477,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of KR. Creekmur Asset Management LLC bought a new stake in shares of Kroger during the 4th quarter worth $26,000. Valued Wealth Advisors LLC boosted its holdings in Kroger by 255.6% in the 1st quarter. Valued Wealth Advisors LLC now owns 448 shares of the company’s stock valued at $26,000 after purchasing an additional 322 shares during the period. SouthState Corp boosted its holdings in Kroger by 334.3% in the 4th quarter. SouthState Corp now owns 595 shares of the company’s stock valued at $27,000 after purchasing an additional 458 shares during the period. Scarborough Advisors LLC acquired a new position in shares of Kroger in the 4th quarter valued at $28,000. Finally, Hexagon Capital Partners LLC raised 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 buying an additional 250 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Kroger Stock Performance

Shares of Kroger stock traded up $0.96 during trading on Friday, reaching $54.27. The company’s stock had a trading volume of 2,552,485 shares, compared to its average volume of 4,410,368. The business’s 50-day moving average price is $52.07 and its 200-day moving average price is $51.97. The firm has a market cap of $39.17 billion, a PE ratio of 18.52, a P/E/G ratio of 0.84 and a beta of 0.45. The Kroger Co. has a 52 week low of $42.10 and a 52 week high of $58.34. The company has a quick ratio of 0.45, a current ratio of 0.86 and a debt-to-equity ratio of 0.97.

Kroger (NYSE:KR) last announced its earnings results on Thursday, June 20th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. The company 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%. Kroger’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.51 earnings per share. Equities analysts forecast 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 will be paid on Sunday, September 1st. Investors of record on Thursday, August 15th will be given a dividend of $1.28 per share. This is a boost from Kroger’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.12 annualized dividend and a yield of 9.43%. Kroger’s dividend payout ratio is currently 39.59%.

Analyst Ratings Changes

Several research firms have weighed in on KR. StockNews.com upgraded shares of Kroger from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 18th. BNP Paribas reissued an “underperform” rating and set a $48.00 price objective on shares of Kroger in a research note on Monday, April 8th. JPMorgan Chase & Co. reduced their price objective 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. Argus lifted their price objective on shares of Kroger from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Morgan Stanley reduced their price objective on shares of Kroger from $58.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kroger presently has an average rating of “Moderate Buy” and a consensus price target of $58.64.

Insider Buying and Selling

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 transaction of $109,060.00. Following the completion of the sale, the vice president now owns 18,063 shares of the company’s stock, valued at $984,975.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is currently owned by company 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.