Sawgrass Asset Management Lowers stake in The Kroger Co (KR)

The Kroger Co (KR) : Sawgrass Asset Management reduced its stake in The Kroger Co by 1.01% during the most recent quarter end. The investment management company now holds a total of 1,367,135 shares of The Kroger Co which is valued at $45,388,882 after selling 14,000 shares in The Kroger Co , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.The Kroger Co makes up approximately 2.07% of Sawgrass Asset Management’s portfolio.

Other Hedge Funds, Including , California Public Employees Retirement System reduced its stake in KR by selling 159,000 shares or 6.08% in the most recent quarter. The Hedge Fund company now holds 2,457,042 shares of KR which is valued at $81,573,794. The Kroger Co makes up approx 0.13% of California Public Employees Retirement System’s portfolio. Lmr Partners Llp sold out all of its stake in KR during the most recent quarter. The investment firm sold 37,326 shares of KR which is valued $1,276,176.Aviance Capital Management reduced its stake in KR by selling 1,488 shares or 4.6% in the most recent quarter. The Hedge Fund company now holds 30,895 shares of KR which is valued at $1,098,935. The Kroger Co makes up approx 0.03% of Aviance Capital Management’s portfolio.Hartford Investment Management Co reduced its stake in KR by selling 11,208 shares or 4.72% in the most recent quarter. The Hedge Fund company now holds 226,026 shares of KR which is valued at $8,132,415. The Kroger Co makes up approx 0.17% of Hartford Investment Management Co’s portfolio.Jacobs Coca reduced its stake in KR by selling 13,330 shares or 65.26% in the most recent quarter. The Hedge Fund company now holds 7,096 shares of KR which is valued at $265,958. The Kroger Co makes up approx 0.06% of Jacobs Coca’s portfolio.

The Kroger Co closed down -0.31 points or -0.95% at $32.31 with 1,18,37,880 shares getting traded on Monday. Post opening the session at $32.62, the shares hit an intraday low of $32.27 and an intraday high of $32.71 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, The Kroger Co reported $0.70 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jun 16, 2016. Analyst had a consensus of $0.69. The company had revenue of $34604.00 million for the quarter, compared to analysts expectations of $34728.52 million. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 EPS.

Many Wall Street Analysts have commented on The Kroger Co. The Kroger Co was Upgraded by Goldman to ” Buy” on Jul 26, 2016. Piper Jaffray Initiated The Kroger Co on May 10, 2016 to “Underweight”, Price Target of the shares are set at $29.

The Kroger Co. (Kroger) operates retail food and drug stores multi-department stores jewelry stores and convenience stores throughout the United States. The Company also manufactures and processes some of the food for sale in its supermarkets. The Company operated either directly or through its subsidiaries approximately 2625 supermarkets and multi-department stores approximately 1330 of which had fuel centers. Approximately 48% of these supermarkets were operated in Company-owned facilities including some Company-owned buildings on leased land. The Company operates its 2640 supermarket and multi-department stores under banners including Kroger City Market Dillons Food 4 Less Fred Meyer Fry’s Harris Teeter Jay C King Soopers QFC Ralphs and Smith’s. Of these stores 1330 have fuel centers. The Company also operates 782 convenience stores either directly or through franchisees 326 fine jewelry stores and an online retailer.

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