The Kroger Co. (NYSE:KR) SVP Sells $719,070.00 in Stock

The Kroger Co. (NYSE:KR - Get Free Report) SVP Kenneth C. Kimball sold 11,000 shares of Kroger stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $65.37, for a total transaction of $719,070.00. Following the sale, the senior vice president now directly owns 127,106 shares in the company, valued at $8,308,919.22. This trade represents a 7.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Kroger Stock Up 0.4 %

Shares of NYSE KR traded up $0.26 during trading on Friday, hitting $66.40. 1,208,493 shares of the company traded hands, compared to its average volume of 5,894,667. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.07 and a current ratio of 1.54. The business's fifty day moving average is $63.87 and its 200 day moving average is $60.21. The firm has a market capitalization of $48.05 billion, a price-to-earnings ratio of 17.58, a P/E/G ratio of 2.85 and a beta of 0.51. The Kroger Co. has a fifty-two week low of $49.04 and a fifty-two week high of $68.51.

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 the consensus estimate of $1.09 by $0.05. The business had revenue of $34.31 billion for the quarter, compared to analyst estimates of $34.96 billion. Kroger had a return on equity of 27.73% and a net margin of 1.85%. Equities research analysts predict that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Remove Ads

Kroger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.28 annualized dividend and a yield of 1.93%. Kroger's payout ratio is 34.88%.

Kroger declared that its Board of Directors has initiated a share repurchase plan on Wednesday, December 11th that allows the company to buyback $7.50 billion in shares. This buyback authorization allows the company to repurchase up to 16.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms recently commented on KR. Telsey Advisory Group reiterated an "outperform" rating and set a $73.00 target price on shares of Kroger in a research report on Monday, March 3rd. UBS Group lifted their price target on shares of Kroger from $63.00 to $66.00 and gave the stock a "neutral" rating in a report on Thursday, December 12th. Jefferies Financial Group upgraded Kroger from a "hold" rating to a "buy" rating and increased their price objective for the company from $54.00 to $73.00 in a report on Tuesday, December 3rd. Roth Capital set a $58.00 target price on Kroger in a report on Thursday, March 6th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $70.00 price target on shares of Kroger in a research note on Tuesday, February 4th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $66.88.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Norges Bank bought a new position in Kroger in the 4th quarter valued at about $598,390,000. Steadfast Capital Management LP purchased a new stake in shares of Kroger in the fourth quarter worth approximately $277,989,000. Junto Capital Management LP bought a new position in shares of Kroger in the fourth quarter valued at approximately $264,207,000. Wellington Management Group LLP boosted its position in shares of Kroger by 11,570.7% during the third quarter. Wellington Management Group LLP now owns 2,729,788 shares of the company's stock valued at $156,417,000 after buying an additional 2,706,398 shares during the last quarter. Finally, State Street Corp grew its holdings in Kroger by 6.8% during 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 in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.