Convergence Investment Partners LLC Has $267,000 Holdings in The Kroger Co. (NYSE:KR)

Convergence Investment Partners LLC decreased its holdings in The Kroger Co. (NYSE:KR) by 49.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,361 shares of the company’s stock after selling 4,236 shares during the period. Convergence Investment Partners LLC’s holdings in Kroger were worth $267,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Valmark Advisers Inc. increased its stake in Kroger by 4.3% in the 4th quarter. Valmark Advisers Inc. now owns 4,260 shares of the company’s stock valued at $260,000 after buying an additional 174 shares during the period. Nexus Investment Management ULC increased its stake in shares of Kroger by 0.4% in the fourth quarter. Nexus Investment Management ULC now owns 48,115 shares of the company’s stock worth $2,942,000 after acquiring an additional 175 shares during the last quarter. Sanibel Captiva Trust Company Inc. raised its holdings in shares of Kroger by 4.0% during the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 4,539 shares of the company’s stock worth $278,000 after acquiring an additional 176 shares in the last quarter. Mendel Capital Management LLC boosted its position in Kroger by 0.6% during the third quarter. Mendel Capital Management LLC now owns 31,559 shares of the company’s stock valued at $1,808,000 after purchasing an additional 181 shares during the last quarter. Finally, Cooper Financial Group grew its stake in Kroger by 3.7% in the fourth quarter. Cooper Financial Group now owns 5,366 shares of the company’s stock valued at $328,000 after purchasing an additional 190 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Kroger Price Performance

Shares of NYSE:KR opened at $65.41 on Thursday. The Kroger Co. has a twelve month low of $46.96 and a twelve month high of $66.18. 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 company has a market cap of $47.33 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 2.88 and a beta of 0.47. The business has a 50 day moving average price of $61.60 and a 200 day moving average price of $58.03.

Kroger (NYSE:KR) last posted its quarterly earnings data on Thursday, December 5th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.01. Kroger had a return on equity of 27.73% and a net margin of 1.85%. The company had revenue of $33.63 billion during the quarter, compared to analysts’ expectations of $34.19 billion. During the same period in the prior year, the business earned $0.95 earnings per share. Kroger’s revenue for the quarter was down 1.0% compared to the same quarter last year. Research analysts predict 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. Investors of record on Friday, February 14th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, February 14th. Kroger’s payout ratio is presently 33.86%.

Kroger declared that its Board of Directors has approved a share repurchase program on Wednesday, December 11th that allows the company to buyback $7.50 billion in shares. This buyback authorization allows the company to buy up to 16.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Citigroup reaffirmed a “neutral” rating and set a $61.00 price target on shares of Kroger in a research note on Friday, January 24th. 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 research report on Thursday, December 12th. Bank of America boosted their target price on shares of Kroger from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Roth Mkm raised their price target on shares of Kroger from $52.00 to $56.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $70.00 price objective on shares of Kroger in a report on Tuesday, February 4th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Kroger presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.19.

Insider Activity at Kroger

In related news, CFO Todd A. Foley sold 16,932 shares of the firm’s 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 transaction, the chief financial officer now directly owns 53,782 shares of the company’s stock, valued at $3,304,366.08. This trade represents a 23.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Yael Cosset sold 20,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $8,444,361.80. The trade was 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 sold 195,448 shares of company stock worth $12,143,923. Company insiders own 1.40% of the company’s stock.

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.