Allstate Corp Takes $1.26 Million Position in The Kroger Co. (NYSE:KR)

Allstate Corp acquired a new stake in The Kroger Co. (NYSE:KR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,598 shares of the company’s stock, valued at approximately $1,260,000.

Several other large investors have also bought and sold shares of the company. Millstone Evans Group LLC acquired a new position in Kroger in the fourth quarter worth approximately $25,000. Whipplewood Advisors LLC acquired a new position in shares of Kroger in the 4th quarter worth $26,000. TCTC Holdings LLC acquired a new stake in shares of Kroger during the fourth quarter worth $27,000. Lee Danner & Bass Inc. acquired a new position in shares of Kroger in the 4th quarter valued at $32,000. Finally, Centricity Wealth Management LLC purchased a new position in Kroger in the 4th quarter worth about $32,000. Institutional investors own 80.93% of the company’s stock.

Kroger Price Performance

Shares of NYSE:KR opened at $66.77 on Monday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.54 and a quick ratio of 1.07. The stock has a market capitalization of $48.32 billion, a P/E ratio of 17.66, a P/E/G ratio of 2.85 and a beta of 0.51. The business has a 50-day moving average of $64.04 and a two-hundred day moving average of $60.43. The Kroger Co. has a fifty-two week low of $49.04 and a fifty-two week high of $68.51.

Kroger (NYSE:KR) last announced its earnings results 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 return on equity of 27.73% and a net margin of 1.85%. The firm had revenue of $34.31 billion during the quarter, compared to analysts’ expectations of $34.96 billion. On average, equities research analysts predict that The Kroger Co. will post 4.44 EPS for the current fiscal year.

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

Kroger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Thursday, May 15th. Kroger’s dividend payout ratio (DPR) is 34.88%.

Insider Transactions at Kroger

In other Kroger news, SVP Kenneth C. Kimball sold 11,000 shares of the firm’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $65.37, for a total value of $719,070.00. Following the sale, the senior vice president now directly owns 127,106 shares in the company, valued at $8,308,919.22. This trade represents a 7.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Brian W. Nichols sold 1,300 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $66.71, for a total transaction of $86,723.00. Following the transaction, the vice president now directly owns 12,090 shares of the company’s stock, valued at $806,523.90. This represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 223,244 shares of company stock worth $15,001,418. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

KR has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Kroger from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Citigroup lifted their price objective on shares of Kroger from $61.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, March 7th. Telsey Advisory Group restated an “outperform” rating and issued a $73.00 target price on shares of Kroger in a report on Monday, March 3rd. Morgan Stanley lifted their price target on Kroger from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Finally, UBS Group increased their price objective on Kroger from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.88.

Kroger Company 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.