Pinebridge Investments L.P. Decreases Stock Position in The Kroger Co. (NYSE:KR)

Pinebridge Investments L.P. trimmed its position in The Kroger Co. (NYSE:KR - Free Report) by 49.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 339,863 shares of the company's stock after selling 338,076 shares during the period. Pinebridge Investments L.P.'s holdings in Kroger were worth $20,783,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in KR. Vanguard Group Inc. boosted its stake in Kroger by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 82,223,697 shares of the company's stock worth $5,027,979,000 after acquiring an additional 773,182 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Kroger by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 16,436,688 shares of the company's stock worth $1,002,479,000 after purchasing an additional 416,962 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Kroger by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,113,596 shares of the company's stock worth $863,060,000 after buying an additional 120,250 shares during the last quarter. Norges Bank purchased a new position in Kroger during the fourth quarter valued at $598,390,000. Finally, FMR LLC boosted its holdings in Kroger by 39.1% in the fourth quarter. FMR LLC now owns 7,054,824 shares of the company's stock worth $431,402,000 after acquiring an additional 1,981,259 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Kroger Stock Performance

Shares of NYSE:KR traded down $1.32 during mid-day trading on Friday, reaching $70.03. 8,847,089 shares of the company traded hands, compared to its average volume of 5,539,797. The Kroger Co. has a 52 week low of $49.04 and a 52 week high of $73.63. The firm has a market cap of $46.28 billion, a PE ratio of 18.53, a PEG ratio of 2.85 and a beta of 0.60. The company's 50 day moving average price is $66.78 and its 200-day moving average price is $62.35. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.54 and a quick ratio of 1.07.

Kroger (NYSE:KR - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $34.31 billion during 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%. On average, equities analysts expect that The Kroger Co. will post 4.44 EPS for the current fiscal year.

Kroger Dividend Announcement

The firm also recently announced 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 1.83%. The ex-dividend date of this dividend is Thursday, May 15th. Kroger's dividend payout ratio is currently 34.88%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on KR shares. Evercore ISI raised their price target on Kroger from $73.00 to $74.00 and gave the company an "outperform" rating in a report on Tuesday, March 11th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $70.00 target price on shares of Kroger in a report on Tuesday, February 4th. Melius cut shares of Kroger from a "hold" rating to a "sell" rating and set a $58.00 price target on the stock. in a report on Tuesday, April 1st. Guggenheim boosted their price objective on shares of Kroger from $71.00 to $73.00 and gave the stock a "buy" rating in a report on Thursday, April 3rd. Finally, Morgan Stanley increased their target price on Kroger from $62.00 to $65.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $66.50.

Insider Activity at Kroger

In related news, SVP Yael Cosset sold 115,149 shares of the business'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 sale, the senior vice president now directly owns 139,338 shares in the company, valued at approximately $9,486,131.04. The trade was a 45.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Todd A. Foley sold 28,105 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $66.62, for a total value of $1,872,355.10. Following the transaction, the chief financial officer now owns 52,861 shares of the company's stock, valued at $3,521,599.82. This represents a 34.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 334,923 shares of company stock valued at $22,867,124. 1.40% of the stock is owned by company insiders.

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.