M&G Plc Makes New $23.66 Million Investment in The Kroger Co. (NYSE:KR)

M&G Plc acquired a new position in The Kroger Co. (NYSE:KR) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 415,083 shares of the company’s stock, valued at approximately $23,660,000.

Several other institutional investors have also recently modified their holdings of the company. Sanders Capital LLC raised its position in Kroger by 5.0% in the 4th quarter. Sanders Capital LLC now owns 23,786,389 shares of the company’s stock worth $1,087,276,000 after purchasing an additional 1,123,427 shares during the period. Capital World Investors increased its holdings in shares of Kroger by 1.5% in the fourth quarter. Capital World Investors now owns 14,453,142 shares of the company’s stock worth $660,653,000 after buying an additional 214,852 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Kroger by 4.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,592,371 shares of the company’s stock valued at $575,546,000 after acquiring an additional 503,839 shares during the last quarter. Norges Bank purchased a new stake in Kroger during the 4th quarter valued at about $229,863,000. Finally, Charles Schwab Investment Management Inc. grew its position in Kroger by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,610,352 shares of the company’s stock worth $210,739,000 after acquiring an additional 118,209 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Carin L. Fike sold 3,929 shares of Kroger stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $57.03, for a total value of $224,070.87. Following the completion of the transaction, the vice president now owns 3,768 shares of the company’s stock, valued at approximately $214,889.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Kroger news, SVP Kenneth C. Kimball sold 30,251 shares of Kroger stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $55.98, for a total value of $1,693,450.98. Following the completion of the sale, the senior vice president now owns 105,298 shares of the company’s stock, valued at approximately $5,894,582.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Carin L. Fike sold 3,929 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $57.03, for a total value of $224,070.87. Following the completion of the transaction, the vice president now owns 3,768 shares of the company’s stock, valued at approximately $214,889.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,796 shares of company stock worth $3,118,767. 1.40% of the stock is currently owned by company insiders.

Kroger Stock Down 0.5 %

Shares of KR stock traded down $0.30 during midday trading on Friday, reaching $54.51. 2,775,112 shares of the stock were exchanged, compared to its average volume of 5,732,533. The Kroger Co. has a 1 year low of $42.10 and a 1 year high of $58.34. The firm has a market cap of $39.34 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 0.85 and a beta of 0.45. The company’s 50 day moving average is $52.13 and its two-hundred day moving average is $51.65. The company has a current ratio of 0.86, a quick ratio of 0.45 and a debt-to-equity ratio of 0.97.

Kroger (NYSE:KR) last issued its quarterly earnings results on Thursday, June 20th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.10. The company had revenue of $45.27 billion for the quarter, compared to analysts’ expectations of $44.86 billion. Kroger had a return on equity of 29.89% and a net margin of 1.43%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.51 earnings per share. On average, equities research analysts predict that The Kroger Co. will post 4.45 EPS for the current year.

Kroger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Thursday, August 15th will be given a dividend of $1.28 per share. This is a boost from Kroger’s previous quarterly dividend of $0.29. This represents a $5.12 dividend on an annualized basis and a yield of 9.39%. The ex-dividend date of this dividend is Thursday, August 15th. Kroger’s dividend payout ratio (DPR) is 39.59%.

Wall Street Analysts Forecast Growth

KR has been the subject of several recent research reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $62.00 price objective on shares of Kroger in a research report on Monday, June 17th. Wells Fargo & Company upgraded shares of Kroger from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $58.00 to $65.00 in a report on Tuesday, April 16th. JPMorgan Chase & Co. cut their price target on shares of Kroger from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. BNP Paribas reaffirmed an “underperform” rating and set a $48.00 price objective on shares of Kroger in a research note on Monday, April 8th. Finally, Morgan Stanley cut their target price on Kroger from $58.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.30.

Kroger 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.