Birch Hill Investment Advisors LLC Lowers Position in The Kroger Co. (NYSE:KR)

Birch Hill Investment Advisors LLC lowered its stake in The Kroger Co. (NYSE:KR) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 884,661 shares of the company’s stock after selling 20,600 shares during the quarter. Kroger comprises about 2.5% of Birch Hill Investment Advisors LLC’s portfolio, making the stock its 14th biggest holding. Birch Hill Investment Advisors LLC owned about 0.12% of Kroger worth $54,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Empirical Finance LLC increased its holdings in Kroger by 40.0% in the 4th quarter. Empirical Finance LLC now owns 32,177 shares of the company’s stock valued at $1,968,000 after purchasing an additional 9,196 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Kroger by 184.7% in the 4th quarter. Empowered Funds LLC now owns 245,616 shares of the company’s stock valued at $15,019,000 after buying an additional 159,351 shares during the period. D Orazio & Associates Inc. purchased a new position in Kroger during the 4th quarter valued at about $238,000. Kingsview Wealth Management LLC grew its position in Kroger by 9.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 186,527 shares of the company’s stock valued at $11,406,000 after acquiring an additional 16,425 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its stake in Kroger by 5.9% during the fourth quarter. Apollon Wealth Management LLC now owns 9,347 shares of the company’s stock worth $572,000 after purchasing an additional 518 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Kroger Price Performance

Shares of KR opened at $65.00 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 stock’s 50 day moving average is $60.83 and its two-hundred day moving average is $57.43. The Kroger Co. has a twelve month low of $44.49 and a twelve month high of $65.75. The firm has a market capitalization of $47.04 billion, a PE ratio of 17.20, a P/E/G ratio of 2.85 and a beta of 0.47.

Kroger (NYSE:KR) last posted 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 return on equity of 27.73% and a net margin of 1.85%. The firm had revenue of $33.63 billion for the quarter, compared to the consensus estimate of $34.19 billion. During the same period in the previous year, the business earned $0.95 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. Research analysts anticipate that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, February 14th. This represents a $1.28 annualized dividend and a yield of 1.97%. Kroger’s payout ratio is currently 33.86%.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on KR shares. JPMorgan Chase & Co. increased their target price on shares of Kroger from $69.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. BNP Paribas started coverage on Kroger in a research note on Friday, October 18th. They issued a “neutral” rating and a $56.00 price objective for the company. Bank of America raised their target price on shares of Kroger from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, December 20th. Wells Fargo & Company raised their price objective on shares of Kroger from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Finally, Jefferies Financial Group raised Kroger from a “hold” rating to a “buy” rating and increased their target price for the company from $54.00 to $73.00 in a report on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Insider Buying and Selling at Kroger

In related news, CFO Todd A. Foley sold 16,932 shares of the company’s 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 sale, the chief financial officer now 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Yael Cosset sold 20,000 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 144,620 shares of the company’s stock, valued at approximately $8,444,361.80. This trade represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 195,448 shares of company stock valued at $12,143,923. Corporate insiders own 1.40% of the company’s stock.

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.