Ledyard National Bank Has $13.20 Million Stake in The Kroger Co. (NYSE:KR)

Ledyard National Bank reduced its stake in The Kroger Co. (NYSE:KR) by 5.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 215,883 shares of the company’s stock after selling 12,608 shares during the period. Kroger comprises approximately 1.2% of Ledyard National Bank’s investment portfolio, making the stock its 23rd largest position. Ledyard National Bank’s holdings in Kroger were worth $13,201,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In related news, CFO Todd A. Foley sold 16,932 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 53,782 shares of the company’s stock, valued at approximately $3,304,366.08. This represents a 23.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Yael Cosset sold 20,000 shares of Kroger stock in a transaction 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 transaction, the senior vice president now directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 195,448 shares of company stock worth $12,143,923. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

KR has been the topic of a number of recent research reports. Bank of America lifted their price target on shares of Kroger from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, December 20th. JPMorgan Chase & Co. upped their price target on Kroger from $69.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Guggenheim assumed coverage on Kroger in a research report on Thursday, December 19th. They set a “buy” rating and a $68.00 price objective for the company. BNP Paribas assumed coverage on Kroger in a report on Friday, October 18th. They issued a “neutral” rating and a $56.00 target price on the stock. Finally, Citigroup restated a “neutral” rating and set a $61.00 price target on shares of Kroger in a report on Friday, January 24th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Kroger currently has an average rating of “Moderate Buy” and a consensus target price of $66.81.

Kroger Price Performance

Shares of NYSE KR opened at $64.86 on Friday. 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 firm’s 50-day moving average price is $60.66 and its 200-day moving average price is $57.31. The firm has a market capitalization of $46.93 billion, a P/E ratio of 17.16, a P/E/G ratio of 2.90 and a beta of 0.47. The Kroger Co. has a 1-year low of $44.48 and a 1-year high of $65.75.

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

Kroger declared that its board has authorized a share repurchase plan on Wednesday, December 11th that permits the company to buyback $7.50 billion in outstanding shares. This buyback authorization permits the company to purchase up to 16.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Kroger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.97%. Kroger’s dividend payout ratio (DPR) is presently 33.86%.

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.