Kenneth C. Kimball Sells 11,000 Shares of The Kroger Co. (NYSE:KR) Stock

The Kroger Co. (NYSE:KR) SVP Kenneth C. Kimball sold 11,000 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $65.37, for a total value of $719,070.00. Following the completion of the transaction, the senior vice president now owns 127,106 shares of the company’s stock, valued at $8,308,919.22. This represents a 7.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Kroger Stock Down 1.5 %

Kroger stock opened at $64.39 on Wednesday. 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 company has a market capitalization of $46.59 billion, a PE ratio of 17.03, a PEG ratio of 2.85 and a beta of 0.51. The firm’s fifty day moving average is $63.57 and its 200 day moving average is $60.12. The Kroger Co. has a 12-month low of $49.04 and a 12-month high of $68.51.

Kroger (NYSE:KR) last released its quarterly earnings data on Thursday, March 6th. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. Kroger had a net margin of 1.85% and a return on equity of 27.73%. The company had revenue of $34.31 billion for the quarter, compared to analysts’ expectations of $34.96 billion. As a group, sell-side analysts predict that The Kroger Co. will post 4.44 EPS for the current fiscal year.

Kroger announced that its board has initiated a stock repurchase plan on Wednesday, December 11th that allows the company to repurchase $7.50 billion in shares. This repurchase authorization allows the company to reacquire up to 16.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Kroger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, May 15th. Kroger’s payout ratio is 34.88%.

Analysts Set New Price Targets

KR has been the topic of several recent research reports. BMO Capital Markets lifted their target price 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. Morgan Stanley lifted their price target on shares of Kroger from $62.00 to $65.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Roth Capital set a $58.00 target price on Kroger in a research report on Thursday, March 6th. Guggenheim lifted their target price on Kroger from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $73.00 price target on shares of Kroger in a research note on Monday, March 3rd. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.88.

Institutional Trading of Kroger

Several hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Kroger in the fourth quarter valued at $598,390,000. Steadfast Capital Management LP acquired a new stake in shares of Kroger in the 4th quarter worth about $277,989,000. Junto Capital Management LP bought a new position in Kroger in the 4th quarter valued at about $264,207,000. Wellington Management Group LLP boosted its stake in Kroger by 11,570.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,729,788 shares of the company’s stock valued at $156,417,000 after purchasing an additional 2,706,398 shares during the last quarter. Finally, State Street Corp increased its holdings in Kroger by 6.8% during the 3rd quarter. State Street Corp now owns 33,057,629 shares of the company’s stock worth $1,894,202,000 after purchasing an additional 2,110,681 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

About Kroger

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.