Naples Global Advisors LLC Sells 299 Shares of The Kroger Co. (NYSE:KR)

Naples Global Advisors LLC reduced its position in The Kroger Co. (NYSE:KR) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 37,853 shares of the company’s stock after selling 299 shares during the period. Naples Global Advisors LLC’s holdings in Kroger were worth $2,315,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Adirondack Trust Co. increased its position in Kroger by 1,628.1% in the fourth quarter. Adirondack Trust Co. now owns 553 shares of the company’s stock worth $34,000 after purchasing an additional 521 shares during the period. Northwest Investment Counselors LLC bought a new position in shares of Kroger in the 3rd quarter valued at about $34,000. Crews Bank & Trust acquired a new stake in shares of Kroger during the 4th quarter worth approximately $39,000. Harbor Capital Advisors Inc. bought a new stake in shares of Kroger during the third quarter worth approximately $40,000. Finally, Capital Performance Advisors LLP acquired a new position in Kroger in the third quarter valued at approximately $43,000. Institutional investors own 80.93% of the company’s stock.

Insider Activity at Kroger

In related news, SVP Stuart Aitken sold 132,627 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $63.18, for a total transaction of $8,379,373.86. Following the completion of the transaction, the senior vice president now directly owns 217,523 shares of the company’s stock, valued at approximately $13,743,103.14. This represents a 37.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Yael Cosset sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $58.39, for a total value of $1,167,800.00. Following the transaction, the senior vice president now directly owns 144,620 shares in the company, valued at $8,444,361.80. This trade represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,448 shares of company stock valued at $12,143,923. Corporate insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on KR. The Goldman Sachs Group reiterated a “buy” rating and set a $70.00 target price on shares of Kroger in a research report on Tuesday, February 4th. Bank of America upped their price objective on Kroger from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, December 20th. JPMorgan Chase & Co. raised their target price on Kroger from $69.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Morgan Stanley upped their price target on Kroger from $62.00 to $65.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Finally, Citigroup reiterated a “neutral” rating and issued a $61.00 price target on shares of Kroger in a research report on Friday, January 24th. 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 MarketBeat.com, Kroger currently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Kroger Trading Up 1.2 %

KR opened at $65.82 on Thursday. The firm’s fifty day simple moving average is $61.03 and its 200 day simple moving average is $57.64. The stock has a market capitalization of $47.63 billion, a P/E ratio of 17.41, a P/E/G ratio of 2.85 and a beta of 0.47. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 1.74. The Kroger Co. has a 12 month low of $45.17 and a 12 month high of $65.83.

Kroger (NYSE:KR) last posted its quarterly earnings data on Thursday, December 5th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.01. Kroger had a return on equity of 27.73% and a net margin of 1.85%. The company had revenue of $33.63 billion during the quarter, compared to analysts’ expectations of $34.19 billion. During the same period in the prior year, the firm earned $0.95 earnings per share. Kroger’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, research analysts anticipate that The Kroger Co. will post 4.44 EPS for the current fiscal year.

Kroger announced that its Board of Directors has approved a share repurchase plan on Wednesday, December 11th that permits the company to repurchase $7.50 billion in shares. This repurchase authorization permits the company to buy up to 16.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Kroger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.94%. The ex-dividend date is Friday, February 14th. Kroger’s payout ratio is 33.86%.

Kroger Company 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.