iA Global Asset Management Inc. Sells 6,412 Shares of The Kroger Co. (NYSE:KR)

iA Global Asset Management Inc. trimmed its stake in shares of The Kroger Co. (NYSE:KR - Free Report) by 12.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,370 shares of the company's stock after selling 6,412 shares during the quarter. iA Global Asset Management Inc.'s holdings in Kroger were worth $2,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp increased its stake in shares of Kroger by 6.8% in the third quarter. State Street Corp now owns 33,057,629 shares of the company's stock worth $1,894,202,000 after buying an additional 2,110,681 shares during the period. Geode Capital Management LLC grew its holdings in Kroger by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 16,019,726 shares of the company's stock worth $914,795,000 after acquiring an additional 126,303 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Kroger by 0.6% in the third quarter. JPMorgan Chase & Co. now owns 6,164,855 shares of the company's stock valued at $353,246,000 after acquiring an additional 37,222 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Kroger by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,035,732 shares of the company's stock valued at $307,935,000 after acquiring an additional 144,845 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake 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 acquiring an additional 148,221 shares during the last quarter. Institutional investors own 80.93% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts have commented on KR shares. Roth Mkm upped their price target on Kroger from $52.00 to $56.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. The Goldman Sachs Group restated a "buy" rating and set a $70.00 target price on shares of Kroger in a report on Tuesday, February 4th. JPMorgan Chase & Co. lifted their price target on shares of Kroger from $71.00 to $72.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Telsey Advisory Group restated an "outperform" rating and issued a $73.00 price objective on shares of Kroger in a report on Monday, March 3rd. Finally, Guggenheim lifted their target price on shares of Kroger from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Kroger presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.88.

Insider Buying and Selling

In other Kroger news, CFO Todd A. Foley sold 28,105 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $66.62, for a total value of $1,872,355.10. Following the completion of the transaction, the chief financial officer now owns 52,861 shares of the company's stock, valued at approximately $3,521,599.82. The trade was a 34.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 owns 12,090 shares in the company, valued at $806,523.90. This represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 223,244 shares of company stock worth $15,001,418 in the last three months. Insiders own 1.40% of the company's stock.

Kroger Stock Down 1.5 %

NYSE:KR traded down $1.01 during trading hours on Tuesday, reaching $64.39. 5,542,254 shares of the company traded hands, compared to its average volume of 4,852,421. The Kroger Co. has a 1 year low of $49.04 and a 1 year high of $68.51. The stock has a market capitalization of $46.59 billion, a P/E ratio of 17.03, a P/E/G ratio of 2.85 and a beta of 0.51. The business's 50-day moving average price is $63.48 and its two-hundred day moving average price is $60.04. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 1.74.

Kroger (NYSE:KR - Get Free Report) last announced its quarterly 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. The company had revenue of $34.31 billion for the quarter, compared to analysts' expectations of $34.96 billion. Kroger had a net margin of 1.85% and a return on equity of 27.73%. Analysts predict that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Thursday, May 15th. Kroger's dividend payout ratio (DPR) is currently 34.88%.

Kroger declared that its board has authorized a stock repurchase plan on Wednesday, December 11th that permits the company to buyback $7.50 billion in outstanding shares. This buyback authorization permits the company to purchase up to 16.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

Kroger 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.