Exchange Traded Concepts LLC Sells 406 Shares of The Kroger Co. (NYSE:KR)

Exchange Traded Concepts LLC cut its stake in The Kroger Co. (NYSE:KR) by 1.3% in the fourth quarter, HoldingsChannel reports. The fund owned 30,110 shares of the company’s stock after selling 406 shares during the period. Exchange Traded Concepts LLC’s holdings in Kroger were worth $1,841,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Adirondack Trust Co. raised its stake in shares of Kroger by 1,628.1% in the fourth quarter. Adirondack Trust Co. now owns 553 shares of the company’s stock worth $34,000 after acquiring an additional 521 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Kroger during the 3rd quarter worth approximately $34,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Kroger during the 3rd quarter worth approximately $40,000. Newbridge Financial Services Group Inc. grew its position in shares of Kroger by 218.8% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 714 shares of the company’s stock worth $36,000 after buying an additional 490 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Kroger during the 3rd quarter worth approximately $43,000. 80.93% of the stock is owned by institutional investors.

Kroger Stock Up 0.2 %

Kroger stock opened at $58.68 on Monday. The company has a 50 day moving average of $60.17 and a 200-day moving average of $56.83. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $42.46 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 2.76 and a beta of 0.48. The Kroger Co. has a twelve month low of $44.48 and a twelve month high of $63.59.

Kroger (NYSE:KR) last announced its quarterly earnings data on Thursday, December 5th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The business had revenue of $33.63 billion for the quarter, compared to analyst estimates of $34.19 billion. Kroger had a net margin of 1.85% and a return on equity of 27.73%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 earnings per share. On average, equities research analysts anticipate that The Kroger Co. will post 4.44 EPS for the current fiscal year.

Kroger announced that its board has initiated a stock buyback program on Wednesday, December 11th that permits the company to buyback $7.50 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 16.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Kroger

In other Kroger news, CFO Todd A. Foley sold 16,932 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $61.44, for a total transaction of $1,040,302.08. Following the sale, the chief financial officer now directly owns 53,782 shares of the company’s stock, valued at approximately $3,304,366.08. This represents a 23.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Stuart Aitken sold 132,627 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $63.18, for a total transaction of $8,379,373.86. Following the sale, the senior vice president now directly owns 217,523 shares in the company, valued at $13,743,103.14. This trade represents a 37.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 195,448 shares of company stock valued at $12,143,923 over the last 90 days. 1.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KR. Bank of America lifted their price target on shares of Kroger from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Guggenheim began coverage on shares of Kroger in a research report on Thursday, December 19th. They set a “buy” rating and a $68.00 price target for the company. BMO Capital Markets lifted their price target on shares of Kroger from $60.00 to $63.00 and gave the stock a “market perform” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. boosted their price objective on shares of Kroger from $69.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, StockNews.com cut shares of Kroger from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Kroger currently has an average rating of “Moderate Buy” and a consensus price target of $65.80.

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.