The Kroger Co. (NYSE:KR) Shares Purchased by Perigon Wealth Management LLC

Perigon Wealth Management LLC raised its holdings in The Kroger Co. (NYSE:KR) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,833 shares of the company’s stock after purchasing an additional 253 shares during the period. Perigon Wealth Management LLC’s holdings in Kroger were worth $576,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Lebenthal Global Advisors LLC raised its stake in Kroger by 6.0% in the 4th quarter. Lebenthal Global Advisors LLC now owns 25,434 shares of the company’s stock valued at $1,555,000 after purchasing an additional 1,448 shares during the last quarter. Foundations Investment Advisors LLC grew its holdings in shares of Kroger by 0.8% during the fourth quarter. Foundations Investment Advisors LLC now owns 104,538 shares of the company’s stock worth $6,392,000 after buying an additional 870 shares in the last quarter. tru Independence LLC acquired a new position in shares of Kroger in the fourth quarter valued at approximately $204,000. Mariner Investment Group LLC acquired a new stake in Kroger during the fourth quarter worth approximately $1,223,000. Finally, Pacer Advisors Inc. grew its stake in Kroger by 48.3% in the 4th quarter. Pacer Advisors Inc. now owns 85,171 shares of the company’s stock worth $5,208,000 after acquiring an additional 27,753 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on KR. Jefferies Financial Group upgraded Kroger from a “hold” rating to a “buy” rating and raised their price objective for the stock from $54.00 to $73.00 in a report on Tuesday, December 3rd. Bank of America lifted their price target on Kroger from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, December 20th. Citigroup reiterated a “neutral” rating and set a $61.00 price objective on shares of Kroger in a report on Friday, January 24th. UBS Group upped their price target on shares of Kroger from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Finally, StockNews.com lowered shares of Kroger from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.80.

Insider Buying and Selling at Kroger

In other Kroger news, SVP Yael Cosset sold 20,000 shares of the company’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 transaction of $1,167,800.00. Following the sale, the senior vice president now owns 144,620 shares in the company, valued at $8,444,361.80. This represents a 12.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Todd A. Foley sold 16,932 shares of Kroger stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $61.44, for a total value of $1,040,302.08. Following the completion of the transaction, the chief financial officer now owns 53,782 shares of the company’s stock, valued at approximately $3,304,366.08. The trade was a 23.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 195,448 shares of company stock worth $12,143,923 in the last 90 days. 1.40% of the stock is owned by corporate insiders.

Kroger Stock Up 1.0 %

NYSE KR opened at $61.65 on Friday. 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 fifty-two week low of $44.48 and a fifty-two week high of $63.59. The business has a 50 day moving average price of $60.38 and a two-hundred day moving average price of $57.02. The stock has a market cap of $44.61 billion, a PE ratio of 16.31, a P/E/G ratio of 2.87 and a beta of 0.48.

Kroger (NYSE:KR) last released its quarterly earnings results on Thursday, December 5th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. Kroger had a net margin of 1.85% and a return on equity of 27.73%. The business had revenue of $33.63 billion during the quarter, compared to analyst estimates of $34.19 billion. During the same period last year, the business earned $0.95 EPS. The business’s revenue was down 1.0% on a year-over-year basis. As a group, sell-side analysts predict that The Kroger Co. will post 4.44 EPS for the current fiscal year.

Kroger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Saturday, March 1st will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.08%. Kroger’s dividend payout ratio is currently 33.86%.

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

Kroger 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.