Vanguard Group Inc. Boosts Stake in The Kroger Co. (NYSE:KR)

Vanguard Group Inc. increased its position in The Kroger Co. (NYSE:KR - Free Report) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 82,223,697 shares of the company's stock after purchasing an additional 773,182 shares during the quarter. Vanguard Group Inc. owned approximately 11.36% of Kroger worth $5,027,979,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Board of the Pension Protection Fund purchased a new position in Kroger during the fourth quarter valued at $1,113,000. Nordea Investment Management AB boosted its stake in Kroger by 3.8% during the fourth quarter. Nordea Investment Management AB now owns 4,052,534 shares of the company's stock worth $249,717,000 after acquiring an additional 148,221 shares in the last quarter. World Investment Advisors LLC purchased a new stake in Kroger in the third quarter worth about $566,000. Avanza Fonder AB purchased a new position in shares of Kroger during the fourth quarter valued at approximately $4,210,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Kroger by 0.6% during the third quarter. JPMorgan Chase & Co. now owns 6,164,855 shares of the company's stock valued at $353,246,000 after purchasing an additional 37,222 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Kroger Stock Performance

Shares of Kroger stock traded up $0.23 during trading hours on Friday, reaching $66.37. 956,216 shares of the stock traded hands, compared to its average volume of 5,889,152. The company has a 50 day moving average price of $63.87 and a 200 day moving average price of $60.21. The Kroger Co. has a one year low of $49.04 and a one year high of $68.51. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $48.03 billion, a price-to-earnings ratio of 17.56, a P/E/G ratio of 2.85 and a beta of 0.51.

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Kroger (NYSE:KR - Get Free Report) last announced its earnings results on Thursday, March 6th. The company reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.05. Kroger had a net margin of 1.85% and a return on equity of 27.73%. The business had revenue of $34.31 billion during the quarter, compared to analysts' expectations of $34.96 billion. On average, equities research analysts expect that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Kroger Announces Dividend

The business 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. This represents a $1.28 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Thursday, May 15th. Kroger's dividend payout ratio (DPR) is currently 34.88%.

Kroger declared that its board has approved a stock repurchase program on Wednesday, December 11th that authorizes the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 16.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

KR has been the subject of a number of recent research reports. Roth Mkm lifted their price objective on Kroger from $52.00 to $56.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Bank of America lifted their price target on Kroger from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. StockNews.com downgraded shares of Kroger from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, January 14th. Telsey Advisory Group reiterated an "outperform" rating and issued a $73.00 target price on shares of Kroger in a research note on Monday, March 3rd. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $70.00 price target on shares of Kroger in a research report on Tuesday, February 4th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Kroger has a consensus rating of "Moderate Buy" and a consensus target price of $66.88.

Insider Activity at Kroger

In other news, SVP Yael Cosset sold 115,149 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $68.08, for a total value of $7,839,343.92. Following the completion of the transaction, the senior vice president now owns 139,338 shares of the company's stock, valued at $9,486,131.04. This represents a 45.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Todd A. Foley sold 28,105 shares of the business's stock in a transaction that occurred on 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 directly owns 52,861 shares in the company, valued at approximately $3,521,599.82. This represents a 34.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 223,244 shares of company stock worth $15,001,418. 1.40% of the stock is owned by company insiders.

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.