Truist Financial Corp Cuts Holdings in The Kroger Co. (NYSE:KR)

Truist Financial Corp lessened its stake in The Kroger Co. (NYSE:KR) by 18.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 201,372 shares of the company’s stock after selling 44,126 shares during the quarter. Truist Financial Corp’s holdings in Kroger were worth $10,055,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Valued Wealth Advisors LLC increased its holdings in Kroger by 255.6% in the first quarter. Valued Wealth Advisors LLC now owns 448 shares of the company’s stock valued at $26,000 after buying an additional 322 shares during the last quarter. Hexagon Capital Partners LLC raised its position in shares of Kroger by 101.6% during the 1st quarter. Hexagon Capital Partners LLC now owns 496 shares of the company’s stock worth $28,000 after acquiring an additional 250 shares in the last quarter. Palisade Asset Management LLC purchased a new stake in Kroger during the first quarter worth approximately $29,000. Altshuler Shaham Ltd acquired a new position in Kroger in the second quarter valued at approximately $28,000. Finally, Creekmur Asset Management LLC purchased a new position in Kroger in the fourth quarter valued at approximately $26,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Kroger Stock Up 0.5 %

KR stock opened at $55.89 on Friday. The stock has a market capitalization of $40.34 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 0.87 and a beta of 0.47. The company has a fifty day moving average of $54.10 and a 200-day moving average of $53.93. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.46 and a current ratio of 0.87. The Kroger Co. has a one year low of $42.10 and a one year high of $58.34.

Kroger (NYSE:KR) last announced its quarterly earnings data on Thursday, September 12th. The company reported $0.93 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $34.09 billion. During the same quarter last year, the firm earned $0.96 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. As a group, analysts expect that The Kroger Co. will post 4.46 EPS 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 issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Friday, November 15th. Kroger’s dividend payout ratio (DPR) is currently 43.69%.

Insiders Place Their Bets

In other news, VP Brian W. Nichols sold 2,000 shares of the 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 completion of the transaction, the vice president now owns 18,063 shares in the company, valued at $984,975.39. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Kroger news, VP Carin L. Fike sold 3,010 shares of the business’s 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 sale, the vice president now directly owns 47,593 shares in the company, valued at approximately $2,644,743.01. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian W. Nichols sold 2,000 shares of Kroger stock in a transaction 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 transaction, the vice president now directly owns 18,063 shares of the company’s stock, valued at $984,975.39. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,010 shares of company stock worth $444,056. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on KR. Melius Research began coverage on shares of Kroger in a report on Monday, September 23rd. They issued a “hold” rating and a $55.00 target price for the company. Telsey Advisory Group reaffirmed an “outperform” rating and set a $62.00 price objective on shares of Kroger in a report on Monday, September 9th. BMO Capital Markets raised Kroger from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $58.00 to $60.00 in a report on Tuesday, June 18th. Evercore ISI raised 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. Finally, Wolfe Research upgraded Kroger to a “strong-buy” rating in a research note on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Kroger presently has an average rating of “Moderate Buy” and a consensus price target of $59.36.

Kroger Company 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.