Deroy & Devereaux Private Investment Counsel Inc. Purchases Shares of 309,931 Kroger Co (KR)

Deroy & Devereaux Private Investment Counsel Inc. Purchases Shares of 309,931 Kroger Co (KR)

Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in Kroger Co (NYSE:KR) during the first quarter, Holdings Channel reports. The institutional investor purchased 309,931 shares of the company’s stock, valued at approximately $9,140,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Kroger by 1.1% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 140,129 shares of the company’s stock valued at $4,159,000 after buying an additional 1,480 shares in the last quarter. DnB Asset Management AS increased its position in Kroger by 8.8% in the third quarter. DnB Asset Management AS now owns 100,096 shares of the company’s stock valued at $2,971,000 after buying an additional 8,100 shares in the last quarter. Stanley Laman Group Ltd. increased its position in Kroger by 1.2% in the third quarter. Stanley Laman Group Ltd. now owns 35,967 shares of the company’s stock valued at $1,068,000 after buying an additional 412 shares in the last quarter. Rothschild Asset Management Inc. increased its position in Kroger by 44.3% in the third quarter. Rothschild Asset Management Inc. now owns 966,285 shares of the company’s stock valued at $28,680,000 after buying an additional 296,564 shares in the last quarter. Finally, World Asset Management Inc increased its position in Kroger by 1.3% in the third quarter. World Asset Management Inc now owns 100,670 shares of the company’s stock valued at $2,988,000 after buying an additional 1,281 shares in the last quarter. 77.10% of the stock is currently owned by institutional investors.

Shares of Kroger Co (NYSE:KR) traded up 0.44% on Friday, hitting $29.35. 7,539,970 shares of the stock were exchanged. The stock has a market cap of $26.83 billion, a PE ratio of 14.32 and a beta of 0.78. The company’s 50 day moving average is $29.52 and its 200-day moving average is $32.02. Kroger Co has a 52-week low of $28.29 and a 52-week high of $37.97.

Kroger (NYSE:KR) last announced its quarterly earnings results on Thursday, March 2nd. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The company had revenue of $27.61 billion for the quarter, compared to analyst estimates of $27.31 billion. Kroger had a net margin of 1.77% and a return on equity of 31.48%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 earnings per share. Analysts predict that Kroger Co will post $2.19 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Monday, May 15th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, May 11th. This represents a $0.48 annualized dividend and a yield of 1.64%. Kroger’s dividend payout ratio is currently 23.08%.

KR has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Kroger from a “sell” rating to a “hold” rating in a research note on Monday, January 9th. Vetr raised shares of Kroger from a “buy” rating to a “strong-buy” rating and set a $36.97 price target on the stock in a research note on Monday, January 9th. Credit Suisse Group AG reaffirmed a “neutral” rating and issued a $33.00 price target (up previously from $29.00) on shares of Kroger in a research note on Thursday, January 19th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $38.00 price target (up previously from $36.00) on shares of Kroger in a research note on Wednesday, February 22nd. Finally, Guggenheim reaffirmed a “buy” rating and issued a $40.00 price target on shares of Kroger in a research note on Tuesday, February 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $36.32.

In other Kroger news, Director Ronald Sargent sold 4,465 shares of the stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $29.35, for a total value of $131,047.75. Following the transaction, the director now directly owns 81,240 shares in the company, valued at $2,384,394. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Todd A. Foley sold 11,000 shares of the stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $29.53, for a total transaction of $324,830.00. Following the completion of the transaction, the vice president now owns 24,014 shares in the company, valued at $709,133.42. The disclosure for this sale can be found here. Insiders sold 68,004 shares of company stock worth $2,031,368 over the last quarter. 0.85% of the stock is currently owned by insiders.

Kroger Company Profile

The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.

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