Resona Asset Management Co. Ltd. Makes New Investment in The Kroger Co. (NYSE:KR)

Resona Asset Management Co. Ltd. purchased a new stake in The Kroger Co. (NYSE:KR - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 290,625 shares of the company's stock, valued at approximately $17,808,000.

Several other hedge funds have also bought and sold shares of the stock. Brown Brothers Harriman & Co. increased its holdings in shares of Kroger by 0.9% in the 4th quarter. Brown Brothers Harriman & Co. now owns 18,045 shares of the company's stock worth $1,103,000 after buying an additional 154 shares during the last quarter. Checchi Capital Advisers LLC increased its position in shares of Kroger by 2.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 6,704 shares of the company's stock valued at $410,000 after purchasing an additional 159 shares during the last quarter. HBK Sorce Advisory LLC raised its holdings in Kroger by 2.2% during the 4th quarter. HBK Sorce Advisory LLC now owns 7,834 shares of the company's stock valued at $479,000 after buying an additional 166 shares during the period. Keybank National Association OH lifted its position in Kroger by 0.7% in the fourth quarter. Keybank National Association OH now owns 23,410 shares of the company's stock worth $1,432,000 after buying an additional 167 shares during the last quarter. Finally, Valmark Advisers Inc. boosted its stake in Kroger by 4.3% during the fourth quarter. Valmark Advisers Inc. now owns 4,260 shares of the company's stock worth $260,000 after buying an additional 174 shares during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

Kroger Stock Performance

Shares of NYSE:KR traded down $0.17 on Friday, hitting $67.73. 2,138,319 shares of the company were exchanged, compared to its average volume of 5,313,229. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 1.74. The stock's 50 day moving average price is $65.60 and its 200 day moving average price is $61.25. The Kroger Co. has a 1-year low of $49.04 and a 1-year high of $71.93. The firm has a market capitalization of $44.76 billion, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 2.85 and a beta of 0.60.

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Kroger (NYSE:KR - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.05. Kroger had a return on equity of 27.73% and a net margin of 1.85%. The business had revenue of $34.31 billion for the quarter, compared to the consensus estimate of $34.96 billion. Sell-side analysts predict that The Kroger Co. will post 4.44 EPS for the current year.

Kroger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.89%. Kroger's payout ratio is currently 34.88%.

Analyst Ratings Changes

Several research firms have recently issued reports on KR. Guggenheim raised their target price on shares of Kroger from $71.00 to $73.00 and gave the stock a "buy" rating in a report on Thursday, April 3rd. Roth Capital set a $58.00 price objective on shares of Kroger in a research note on Thursday, March 6th. StockNews.com lowered Kroger from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, January 14th. Evercore ISI increased their target price on Kroger from $73.00 to $74.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 11th. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $73.00 target price on shares of Kroger in a research note on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $66.50.

Insider Activity at Kroger

In other news, VP Carin L. Fike sold 5,541 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $70.79, for a total transaction of $392,247.39. Following the sale, the vice president now directly owns 3,480 shares of the company's stock, valued at $246,349.20. This represents a 61.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christine S. Wheatley sold 30,000 shares of Kroger stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $69.44, for a total value of $2,083,200.00. Following the completion of the transaction, the executive vice president now owns 127,737 shares of the company's stock, valued at approximately $8,870,057.28. This represents a 19.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 258,785 shares of company stock worth $17,476,866 over the last three months. 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.