Kroger Sells Convenience Store Holdings for almost $2 Billion

Kroger Sells Convenience Store Holdings for almost $2 Billion

The third largest holder is Capital Research Global Investors, which now holds $1.61 billion worth of this stock and that ownership represents almost 6.23% of its market capitalization.

The transaction is expected to close during the first quarter of Kroger's financial year. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 87,411 shares of the company's stock worth $1,776,000 after purchasing an additional 34,856 shares in the last quarter. Barnett & Company Inc. raised its position in Kroger by 6.6% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 170,289 shares of the company's stock worth $4,674,000 after acquiring an additional 5,705 shares during the period. The fund owned 9,095 shares of the company's stock after selling 3,720 shares during the quarter. State Street Corp lifted its holdings in Kroger by 0.3% during the second quarter. Following the transaction, the chief operating officer now owns 290,353 shares in the company, valued at $8,031,163.98. Jefferies Group LLC restated a "hold" rating on shares of Kroger Company (The) in a report on Friday, August 25th. They set a "hold" rating and a $32.00 price objective for the company. TheStreet cut Kroger Company (The) from a "b" rating to a "c+" rating in a report on Thursday, June 15th. Goldman Sachs Group reaffirmed a neutral rating and set a $22.00 price target on shares of Kroger in a report on Tuesday, November 14th. The Kroger Co.'s stock price now sits at $28.74.

In the transaction dated January 22, 2018, the great number of shares disposed came courtesy the Senior Vice President; Clark Robert W disposed a total of 11,000 shares at an average price of $29.57, amounting to approximately $325,270. The stock was sold at an average price of $27.66, for a total value of $425,964.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The shares were sold at an average price of $25.61, for a total value of $39,388.18. The disclosure for this sale can be found here. On the other hand, company insiders are holding 0.20%. (NYSE:KR) by some 110,593,874 shares, 392 decreased positions by 73,383,429 and 84 held positions by 555,683,924. The company's market cap is $25.84 Billion, and the average volume is 11.37 Million. The stock is now moving below its 20-Day Simple Moving Average of -2.6% with a 50-Day Simple Moving Average of 3.78 percent.

The Kroger Co. (KR) stock price fell -16.31 percent over the past one year, while increased 17.99 percent during the past 6 months. Kroger Company (The) also saw unusually large options trading activity on Monday.

Apparently, Kroger had been searching for buyers of its convenience store business since October 2017. The company reported $0.44 EPS for the quarter, topping the Zacks' consensus estimate of $0.40 by $0.04. Kroger Company (The) had a net margin of 1.35% and a return on equity of 29.10%.

10 analysts on average are expecting the company to report revenue of $37.55 Billion for the current quarter. During the same period a year ago, the firm posted $0.41 EPS. The performance of firm for the quarter recorded as 13.11% and for year stands at -30.25%, while the YTD performance was 3.42%. Kroger's dividend payout ratio (DPR) is now 29.76%.

Kroger Company (The) announced that its board has initiated a share repurchase program on Thursday, June 22nd that authorizes the company to buyback $1.00 billion in shares. In the last ninety days, insiders have sold 117,868 shares of company stock valued at $3,403,416.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. This represents a $0.50 annualized dividend and a dividend yield of 1.70%. The company has a quick ratio of 0.31, a current ratio of 0.85 and a debt-to-equity ratio of 2.11. Kroger's supermarket fuel centers and its Turkey Hill Dairy are not included in the sale.

The Kroger Co., based in Cincinnati, Ohio, announced Monday it would sell Turkey Hill and other convenience store brands to EG Group, a privately-held petrol convenience store retailer based in Blackburn, Lancashire, U.K.



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