The Kroger Co. (NYSE:KR) Stake Cut by Secure Asset Management LLC

Secure Asset Management LLC reduced its holdings in The Kroger Co. (NYSE:KR) by 63.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,109 shares of the company’s stock after selling 6,990 shares during the period. Secure Asset Management LLC’s holdings in Kroger were worth $278,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Kroger by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 82,223,697 shares of the company’s stock worth $5,027,979,000 after purchasing an additional 773,182 shares during the last quarter. Geode Capital Management LLC increased its position in 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 during the last quarter. Dimensional Fund Advisors LP increased its position in 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 purchasing an additional 120,250 shares during the last quarter. Norges Bank acquired a new position in Kroger in the 4th quarter worth about $598,390,000. Finally, Northern Trust Corp increased its position in Kroger by 13.3% in the 4th quarter. Northern Trust Corp now owns 7,829,401 shares of the company’s stock worth $478,768,000 after purchasing an additional 916,230 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Kroger Stock Performance

KR opened at $66.24 on Thursday. The firm has a market capitalization of $43.78 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 2.85 and a beta of 0.58. The stock’s 50 day moving average price is $69.18 and its two-hundred day moving average price is $64.66. The company has a quick ratio of 1.07, a current ratio of 1.54 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 $73.63.

Kroger (NYSE:KR) last announced its quarterly earnings data 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 company had revenue of $34.31 billion during the quarter, compared to the consensus estimate of $34.96 billion. On average, equities analysts forecast that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were given a $0.32 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.93%. Kroger’s dividend payout ratio is currently 34.88%.

Analysts Set New Price Targets

Several research analysts have weighed in on KR shares. Guggenheim upped their target price on Kroger from $71.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, April 3rd. Melius raised Kroger from a “sell” rating to a “hold” rating and set a $70.00 price objective on the stock in a report on Tuesday, May 20th. Citigroup increased their price objective on Kroger from $61.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, March 7th. Melius Research raised Kroger from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 20th. Finally, Morgan Stanley increased their price objective on Kroger from $65.00 to $71.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Eight research 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. Based on data from MarketBeat.com, Kroger currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.06.

Insiders Place Their Bets

In other Kroger news, EVP Christine S. Wheatley sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $72.07, for a total value of $2,162,100.00. Following the completion of the sale, the executive vice president now owns 97,737 shares in the company, valued at approximately $7,043,905.59. This trade represents a 23.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian W. Nichols sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $72.03, for a total value of $72,030.00. Following the completion of the sale, the vice president now owns 10,473 shares of the company’s stock, valued at $754,370.19. This represents a 8.72% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 334,923 shares of company stock worth $22,867,124. 0.44% of the stock is currently 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.