The Kroger Co. (NYSE:KR - Get Free Report) VP Carin L. Fike sold 5,541 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $70.79, for a total value of $392,247.39. Following the completion of the sale, the vice president now owns 3,480 shares of the company's stock, valued at approximately $246,349.20. This trade represents a 61.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Kroger Stock Performance
NYSE KR traded down $0.78 on Monday, hitting $66.40. The stock had a trading volume of 11,601,708 shares, compared to its average volume of 5,227,638. The company's 50-day moving average is $65.10 and its two-hundred day moving average is $60.96. The Kroger Co. has a one year low of $49.04 and a one year high of $71.93. The stock has a market cap of $48.04 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 2.85 and a beta of 0.60. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 1.74.
Kroger (NYSE:KR - Get Free Report) last announced its earnings results on Thursday, March 6th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.05. The firm had revenue of $34.31 billion for the quarter, compared to the consensus estimate of $34.96 billion. Kroger had a return on equity of 27.73% and a net margin of 1.85%. On average, analysts expect that The Kroger Co. will post 4.44 earnings per share for the current year.
Kroger declared that its board has initiated a stock repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $7.50 billion in shares. This repurchase authorization authorizes the company to repurchase up to 16.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.
Kroger Dividend Announcement
The business also recently announced 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. The ex-dividend date is Thursday, May 15th. This represents a $1.28 annualized dividend and a yield of 1.93%. Kroger's payout ratio is 34.88%.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in Kroger by 7,363.9% during the 1st quarter. GAMMA Investing LLC now owns 1,706,397 shares of the company's stock valued at $115,506,000 after purchasing an additional 1,683,535 shares in the last quarter. AdvisorNet Financial Inc raised its position in Kroger by 3.0% in the first quarter. AdvisorNet Financial Inc now owns 7,807 shares of the company's stock worth $528,000 after acquiring an additional 224 shares in the last quarter. Nexus Investment Management ULC lifted its holdings in Kroger by 5.1% in the 1st quarter. Nexus Investment Management ULC now owns 50,565 shares of the company's stock valued at $3,423,000 after acquiring an additional 2,450 shares during the last quarter. Moody National Bank Trust Division boosted its position in shares of Kroger by 8.5% during the 1st quarter. Moody National Bank Trust Division now owns 4,723 shares of the company's stock valued at $320,000 after purchasing an additional 369 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Kroger in the 1st quarter worth approximately $138,000. Institutional investors and hedge funds own 80.93% of the company's stock.
Analyst Ratings Changes
KR has been the subject of several analyst reports. Citigroup upped their target price on shares of Kroger from $61.00 to $65.00 and gave the company a "neutral" rating in a research note on Friday, March 7th. StockNews.com downgraded Kroger from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, January 14th. Evercore ISI increased 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. Wells Fargo & Company lifted their price objective on Kroger from $70.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, December 12th. Finally, Guggenheim raised their price target on shares of Kroger from $71.00 to $73.00 and gave the stock a "buy" rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $66.50.
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Kroger Company Profile
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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.
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