Miura Global Management Exits Position in The Kroger Co (KR)

The Kroger Co (KR) : Miura Global Management has sold out all of its stake in The Kroger Co during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 900,000 shares of The Kroger Co which is valued at $29,322,000.

Other Hedge Funds, Including , Sta Wealth Management added KR to its portfolio by purchasing 6,358 company shares during the most recent quarter which is valued at $207,144. The Kroger Co makes up approx 0.10% of Sta Wealth Management’s portfolio.Great Lakes Advisors boosted its stake in KR in the latest quarter, The investment management firm added 1,369 additional shares and now holds a total of 325,588 shares of The Kroger Co which is valued at $10,607,657. The Kroger Co makes up approx 0.28% of Great Lakes Advisors’s portfolio.Bahl Gaynor Inc boosted its stake in KR in the latest quarter, The investment management firm added 7,815 additional shares and now holds a total of 1,650,681 shares of The Kroger Co which is valued at $53,779,187. The Kroger Co makes up approx 0.68% of Bahl Gaynor Inc’s portfolio.Acadian Asset Management reduced its stake in KR by selling 250,930 shares or 81.36% in the most recent quarter. The Hedge Fund company now holds 57,483 shares of KR which is valued at $2,092,381. The Kroger Co makes up approx 0.01% of Acadian Asset Management’s portfolio.

The Kroger Co closed down -1.35 points or -4.13% at $31.32 with 19,365,459 shares getting traded on Wednesday. Post opening the session at $31.66, the shares hit an intraday low of $31.1 and an intraday high of $31.75 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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. Shares were Reiterated by RBC Capital Mkts on Sep 7, 2016 to “Sector Perform” and Lowered the Price Target to $ 37 from a previous price target of $39 .The Kroger Co was Upgraded by Goldman to ” Buy” on Jul 26, 2016.

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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