Pictet Asset Management Holding SA Increases Position in The Kroger Co. (NYSE:KR)

Pictet Asset Management Holding SA boosted its holdings in The Kroger Co. (NYSE:KR) by 17.7% in the fourth quarter, HoldingsChannel reports. The firm owned 403,875 shares of the company’s stock after purchasing an additional 60,804 shares during the period. Pictet Asset Management Holding SA’s holdings in Kroger were worth $24,697,000 as of its most recent SEC filing.

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

Kroger Trading Up 1.6 %

Shares of KR stock opened at $67.77 on Tuesday. The Kroger Co. has a 1 year low of $49.04 and a 1 year high of $68.51. The firm has a market capitalization of $49.04 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 2.85 and a beta of 0.51. The stock has a fifty day moving average of $64.23 and a two-hundred day moving average of $60.52. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.07 and a current ratio of 1.54.

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

Kroger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be issued a dividend of $0.32 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.28 annualized dividend and a yield of 1.89%. Kroger’s payout ratio is 34.88%.

Kroger announced that its board has initiated a share buyback plan on Wednesday, December 11th that permits the company to buyback $7.50 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 16.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently commented on KR. Bank of America boosted their price objective on Kroger from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, December 20th. Evercore ISI boosted their price target on Kroger from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. UBS Group raised 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. Wells Fargo & Company boosted their target price on shares of Kroger from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Finally, Citigroup lifted their price target on shares of Kroger from $61.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, March 7th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.88.

Insiders Place Their Bets

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