Cibc World Markets Corp Boosts Position in The Kroger Co. (NYSE:KR)

Cibc World Markets Corp raised its position in The Kroger Co. (NYSE:KR) by 15.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 262,100 shares of the company’s stock after acquiring an additional 34,585 shares during the quarter. Cibc World Markets Corp’s holdings in Kroger were worth $16,027,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of KR. Whipplewood Advisors LLC bought a new position in shares of Kroger in the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC bought a new position in Kroger in the fourth quarter worth approximately $32,000. Adirondack Trust Co. boosted its stake in shares of Kroger by 1,628.1% during the 4th quarter. Adirondack Trust Co. now owns 553 shares of the company’s stock worth $34,000 after acquiring an additional 521 shares during the last quarter. Crews Bank & Trust bought a new stake in shares of Kroger during the 4th quarter valued at $39,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Kroger in the 4th quarter worth $39,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Timothy A. Massa sold 29,554 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $66.56, for a total value of $1,967,114.24. Following the transaction, the senior vice president now directly owns 103,092 shares in the company, valued at approximately $6,861,803.52. This represents a 22.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Brian W. Nichols sold 1,300 shares of Kroger stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $66.71, for a total transaction of $86,723.00. Following the sale, the vice president now owns 12,090 shares of the company’s stock, valued at $806,523.90. The trade was a 9.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,040 shares of company stock valued at $12,805,838. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on KR. Guggenheim boosted their price target on Kroger from $68.00 to $71.00 and gave the company a “buy” rating in a report on Friday, February 7th. BMO Capital Markets lifted their target price on shares of Kroger from $60.00 to $63.00 and gave the company a “market perform” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. upped their target price on shares of Kroger from $71.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Morgan Stanley boosted their price objective on Kroger from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Finally, Jefferies Financial Group raised Kroger from a “hold” rating to a “buy” rating and upped their price objective for the stock from $54.00 to $73.00 in a research note on Tuesday, December 3rd. Seven equities 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.88.

Kroger Stock Up 2.0 %

Shares of NYSE:KR opened at $66.40 on Tuesday. The company has a 50-day moving average price of $62.86 and a 200 day moving average price of $59.61. 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 $49.04 and a 12 month high of $68.51. The company has a market cap of $48.05 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 2.85 and a beta of 0.51.

Kroger (NYSE:KR) last announced its earnings results on Thursday, March 6th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. Kroger had a return on equity of 27.73% and a net margin of 1.85%. The firm had revenue of $34.31 billion during the quarter, compared to analysts’ expectations of $34.96 billion. As a group, equities research analysts predict that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger announced that its board has authorized a stock buyback plan on Wednesday, December 11th that authorizes the company to buyback $7.50 billion in shares. This buyback authorization authorizes the company to buy up to 16.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Kroger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be issued a $0.32 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.28 annualized dividend and a dividend yield of 1.93%. Kroger’s dividend payout ratio (DPR) is presently 34.88%.

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.