The Kroger Co. (NYSE:KR) Position Raised by Canopy Partners LLC

Canopy Partners LLC raised its position in shares of The Kroger Co. (NYSE:KR - Free Report) by 2,605.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,113 shares of the company's stock after acquiring an additional 99,302 shares during the quarter. Kroger makes up about 2.4% of Canopy Partners LLC's holdings, making the stock its 12th largest holding. Canopy Partners LLC's holdings in Kroger were worth $6,305,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Kroger during the 4th quarter valued at approximately $598,390,000. Wellington Management Group LLP raised its position in Kroger by 11,570.7% in the third 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 period. FMR LLC boosted its position in shares of Kroger by 39.1% during the fourth quarter. FMR LLC now owns 7,054,824 shares of the company's stock worth $431,402,000 after buying an additional 1,981,259 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Kroger in the 4th quarter valued at $68,581,000. Finally, Franklin Resources Inc. grew its position in Kroger by 48.0% in the 4th quarter. Franklin Resources Inc. now owns 3,359,918 shares of the company's stock valued at $205,459,000 after acquiring an additional 1,090,440 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Kroger Trading Up 0.5 %

Shares of Kroger stock traded up $0.36 during trading hours on Friday, reaching $68.26. The stock had a trading volume of 8,827,083 shares, compared to its average volume of 5,346,180. 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 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 $45.11 billion, a price-to-earnings ratio of 18.06, a P/E/G ratio of 2.85 and a beta of 0.60. The firm has a 50 day simple moving average of $65.68 and a two-hundred day simple moving average of $61.33.

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Kroger (NYSE:KR - Get Free Report) last released its quarterly earnings data on Thursday, March 6th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $34.96 billion. As a group, equities research analysts anticipate that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Thursday, May 15th. Kroger's dividend payout ratio is presently 34.88%.

Insider Transactions at Kroger

In other Kroger news, CFO Todd A. Foley sold 28,105 shares of Kroger stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $66.62, for a total transaction of $1,872,355.10. Following the sale, the chief financial officer now directly owns 52,861 shares in the company, valued at $3,521,599.82. The trade was a 34.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian W. Nichols sold 1,300 shares of Kroger 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 completion of the sale, the vice president now owns 12,090 shares of the company's stock, valued at approximately $806,523.90. This trade represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 258,785 shares of company stock valued at $17,476,866 over the last quarter. Company insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Melius Research downgraded shares of Kroger from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. lifted their price objective on Kroger from $71.00 to $72.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. StockNews.com cut shares of Kroger from a "strong-buy" rating to a "buy" rating in a report on Tuesday, January 14th. Melius cut shares of Kroger from a "hold" rating to a "sell" rating and set a $58.00 price objective for the company. in a research report on Tuesday, April 1st. Finally, Citigroup increased their target price on Kroger from $61.00 to $65.00 and gave the company a "neutral" rating in a report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $66.50.

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.