Geode Capital Management LLC grew its stake in shares of The Kroger Co. (NYSE:KR - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,436,688 shares of the company's stock after purchasing an additional 416,962 shares during the quarter. Geode Capital Management LLC owned approximately 2.27% of Kroger worth $1,002,479,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in KR. Board of the Pension Protection Fund bought a new stake in shares of Kroger during the 4th quarter valued at $1,113,000. Nordea Investment Management AB raised its holdings in shares of Kroger by 3.8% during the fourth quarter. Nordea Investment Management AB now owns 4,052,534 shares of the company's stock valued at $249,717,000 after purchasing an additional 148,221 shares during the last quarter. World Investment Advisors LLC bought a new position in Kroger in the third quarter valued at about $566,000. Avanza Fonder AB purchased a new position in shares of Kroger during the 4th quarter worth $4,210,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Kroger by 0.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,164,855 shares of the company's stock valued at $353,246,000 after buying an additional 37,222 shares in the last quarter. Institutional investors own 80.93% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have commented on KR shares. Melius cut shares of Kroger from a "hold" rating to a "sell" rating and set a $58.00 target price on the stock. in a research note on Tuesday, April 1st. Wells Fargo & Company boosted their price target on shares of Kroger from $70.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, December 12th. Roth Capital set a $58.00 price objective on shares of Kroger in a research note on Thursday, March 6th. Bank of America increased their price target on Kroger from $70.00 to $75.00 and gave the company a "buy" rating in a report on Friday, December 20th. Finally, UBS Group lifted their price target on shares of Kroger from $63.00 to $66.00 and gave the stock a "neutral" rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Kroger presently has an average rating of "Moderate Buy" and a consensus target price of $66.50.
Read Our Latest Stock Analysis on KR
Insider Transactions at Kroger
In related news, VP Carin L. Fike sold 5,541 shares of Kroger stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $70.79, for a total value of $392,247.39. Following the sale, the vice president now owns 3,480 shares of the company's stock, valued at approximately $246,349.20. This trade represents a 61.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian W. Nichols sold 1,300 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $66.71, for a total transaction of $86,723.00. Following the transaction, the vice president now owns 12,090 shares of the company's stock, valued at $806,523.90. This represents a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 228,785 shares of company stock valued at $15,393,666 in the last ninety days. 1.40% of the stock is currently owned by corporate insiders.
Kroger Stock Performance
Shares of KR traded down $0.95 during mid-day trading on Monday, reaching $66.23. The company had a trading volume of 3,987,437 shares, compared to its average volume of 5,197,640. The stock has a market capitalization of $47.92 billion, a P/E ratio of 17.49, a PEG ratio of 2.85 and a beta of 0.60. The Kroger Co. has a 52-week low of $49.04 and a 52-week high of $71.93. The stock has a 50 day moving average of $64.99 and a two-hundred day moving average of $60.88. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 1.74.
Kroger (NYSE:KR - Get Free Report) last released its quarterly earnings data on Thursday, March 6th. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.09 by $0.05. The business had revenue of $34.31 billion for the quarter, compared to analyst estimates of $34.96 billion. Kroger had a return on equity of 27.73% and a net margin of 1.85%. On average, analysts expect that The Kroger Co. will post 4.44 earnings per share for the current year.
Kroger Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be given a $0.32 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.93%. Kroger's dividend payout ratio (DPR) is currently 34.88%.
Kroger declared that its Board of Directors has approved a share repurchase plan on Wednesday, December 11th that permits the company to buyback $7.50 billion in shares. This buyback authorization permits the company to buy up to 16.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.
About Kroger
(
Free Report)
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.
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