Municipal Employees Retirement System of Michigan Holds Stake in Kroger Company (The) (KR)

Municipal Employees Retirement System of Michigan maintained its stake in shares of Kroger Company (The) (NYSE:KR) during the first quarter, Holdings Channel reports. The firm owned 30,290 shares of the company’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in Kroger Company (The) were worth $893,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. CI Global Investments Inc. acquired a new stake in Kroger Company (The) during the first quarter valued at about $270,002,000. Norges Bank acquired a new stake in Kroger Company (The) during the fourth quarter valued at about $313,013,000. UBS Asset Management Americas Inc. increased its stake in Kroger Company (The) by 172.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 6,284,040 shares of the company’s stock valued at $216,862,000 after buying an additional 3,980,341 shares in the last quarter. Wells Fargo & Company MN increased its stake in Kroger Company (The) by 74.3% in the first quarter. Wells Fargo & Company MN now owns 8,421,749 shares of the company’s stock valued at $248,358,000 after buying an additional 3,589,125 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its stake in Kroger Company (The) by 42.5% in the first quarter. Neuberger Berman Group LLC now owns 7,369,389 shares of the company’s stock valued at $217,323,000 after buying an additional 2,197,652 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

Institutional Ownership by Quarter for Kroger Company (The) (NYSE:KR)

Shares of Kroger Company (NYSE:KR) traded down 0.905% during mid-day trading on Tuesday, reaching $22.435. The company’s stock had a trading volume of 4,509,611 shares. The firm has a market capitalization of $20.19 billion, a P/E ratio of 13.507 and a beta of 0.73. Kroger Company has a 12 month low of $20.46 and a 12 month high of $37.97. The company has a 50 day moving average of $29.01 and a 200-day moving average of $31.29.

Kroger Company (The) (NYSE:KR) last announced its quarterly earnings data on Thursday, June 15th. The company reported $0.58 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.58. The firm had revenue of $36.29 billion for the quarter, compared to analyst estimates of $35.69 billion. Kroger Company (The) had a return on equity of 29.10% and a net margin of 1.35%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.70 EPS. Equities research analysts forecast that Kroger Company will post $1.99 EPS for the current year.

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KR has been the topic of several analyst reports. Northcoast Research downgraded Kroger Company (The) from a “buy” rating to a “neutral” rating in a report on Tuesday, March 7th. Scotiabank dropped their price objective on Kroger Company (The) from $36.00 to $31.00 and set an “outperform” rating on the stock in a report on Friday. Royal Bank Of Canada dropped their price objective on Kroger Company (The) from $37.00 to $34.00 and set an “outperform” rating on the stock in a report on Friday. Goldman Sachs Group, Inc. (The) downgraded Kroger Company (The) from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $33.00 to $26.00 in a report on Friday. Finally, Hilliard Lyons downgraded Kroger Company (The) to a “buy” rating in a report on Monday, March 6th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $31.52.

In other Kroger Company (The) news, Director Susan J. Kropf sold 10,000 shares of the stock in a transaction on Monday, April 10th. The stock was sold at an average price of $29.90, for a total value of $299,000.00. Following the transaction, the director now directly owns 84,673 shares in the company, valued at approximately $2,531,722.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Oflen Mary Elizabeth Van sold 8,000 shares of the stock in a transaction on Friday, April 21st. The shares were sold at an average price of $30.04, for a total value of $240,320.00. Following the completion of the transaction, the vice president now owns 65,564 shares in the company, valued at $1,969,542.56. The disclosure for this sale can be found here. Insiders sold a total of 80,804 shares of company stock worth $2,365,968 over the last quarter. Corporate insiders own 0.87% of the company’s stock.

About Kroger Company (The)

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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