MayTech Global Investments LLC Sells 312 Shares of The Kroger Co. (NYSE:KR)

MayTech Global Investments LLC lessened its holdings in shares of The Kroger Co. (NYSE:KR) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,688 shares of the company’s stock after selling 312 shares during the quarter. Kroger comprises 0.1% of MayTech Global Investments LLC’s portfolio, making the stock its 26th biggest holding. MayTech Global Investments LLC’s holdings in Kroger were worth $441,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Point72 Asset Management L.P. grew its stake in Kroger by 96.6% during the second quarter. Point72 Asset Management L.P. now owns 5,381,311 shares of the company’s stock valued at $268,689,000 after acquiring an additional 2,643,811 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Kroger by 698.8% during the 2nd quarter. Marshall Wace LLP now owns 1,878,479 shares of the company’s stock valued at $93,792,000 after purchasing an additional 1,643,307 shares during the last quarter. Maj Invest Holding A S grew its position in shares of Kroger by 35.1% during the second quarter. Maj Invest Holding A S now owns 4,395,212 shares of the company’s stock valued at $219,456,000 after purchasing an additional 1,141,029 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Kroger by 13.4% in the second quarter. Legal & General Group Plc now owns 7,759,992 shares of the company’s stock worth $387,456,000 after purchasing an additional 917,923 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Kroger by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 13,591,402 shares of the company’s stock worth $678,562,000 after buying an additional 723,771 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Kroger Stock Performance

Shares of Kroger stock opened at $60.52 on Thursday. The company has a quick ratio of 0.46, a current ratio of 0.87 and a debt-to-equity ratio of 0.96. The stock’s fifty day moving average is $57.19 and its two-hundred day moving average is $54.33. The Kroger Co. has a 52 week low of $42.97 and a 52 week high of $61.18. The company has a market capitalization of $43.79 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 0.93 and a beta of 0.48.

Kroger (NYSE:KR) last posted its quarterly earnings results on Thursday, September 12th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. Kroger had a net margin of 1.86% and a return on equity of 28.54%. The firm had revenue of $33.91 billion for the quarter, compared to analysts’ expectations of $34.09 billion. During the same period in the prior year, the business posted $0.96 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts expect that The Kroger Co. will post 4.46 earnings per share for the current year.

Kroger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, November 15th. Kroger’s dividend payout ratio is presently 33.51%.

Analysts Set New Price Targets

Several equities analysts have weighed in on KR shares. JPMorgan Chase & Co. raised their price target on Kroger from $58.00 to $59.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Morgan Stanley increased their price target on shares of Kroger from $57.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. BNP Paribas initiated coverage on Kroger in a research note on Friday, October 18th. They set a “neutral” rating and a $56.00 price objective on the stock. Guggenheim raised their price objective on Kroger from $61.00 to $63.00 and gave the company a “buy” rating in a research note on Monday. Finally, Melius Research assumed coverage on Kroger in a research report on Monday, September 23rd. They set a “hold” rating and a $55.00 target price on the stock. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.55.

Insider Activity at Kroger

In related news, VP Brian W. Nichols sold 6,922 shares of Kroger stock in a transaction dated Monday, October 7th. The stock was 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 directly owns 14,063 shares in the company, valued at $784,715.40. The trade was a 32.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Valerie L. Jabbar sold 3,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $55.91, for a total transaction of $167,730.00. Following the transaction, the senior vice president now owns 74,084 shares in the company, valued at approximately $4,142,036.44. The trade was a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,932 shares of company stock worth $721,243. Company insiders own 1.40% of the company’s stock.

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.