The Kroger Co. (NYSE:KR) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ reduced its position in shares of The Kroger Co. (NYSE:KR) by 53.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 99,651 shares of the company’s stock after selling 113,089 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Kroger were worth $6,102,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KR. Whipplewood Advisors LLC purchased a new position in Kroger during the fourth quarter worth about $26,000. Centricity Wealth Management LLC purchased a new position in Kroger during the fourth quarter worth about $32,000. Adirondack Trust Co. boosted its stake in Kroger by 1,628.1% during the fourth quarter. Adirondack Trust Co. now owns 553 shares of the company’s stock worth $34,000 after buying an additional 521 shares during the period. Crews Bank & Trust purchased a new position in Kroger during the fourth quarter worth about $39,000. Finally, McClarren Financial Advisors Inc. purchased a new position in Kroger during the fourth quarter worth about $39,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Kroger Stock Performance

Shares of KR stock opened at $65.12 on Friday. The stock has a market capitalization of $47.12 billion, a PE ratio of 17.23, a price-to-earnings-growth ratio of 2.85 and a beta of 0.51. The Kroger Co. has a 52-week low of $49.04 and a 52-week high of $68.51. The stock’s 50-day moving average price is $62.74 and its 200 day moving average price is $59.47. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 1.74.

Kroger (NYSE:KR) last announced its quarterly earnings data on Thursday, March 6th. The company reported $1.14 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $34.96 billion. As a group, equities research analysts forecast that The Kroger Co. will post 4.44 EPS for the current year.

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

Kroger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.97%. Kroger’s payout ratio is 34.88%.

Insider Activity

In other news, SVP Yael Cosset sold 115,149 shares of Kroger stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $68.08, for a total transaction of $7,839,343.92. Following the completion of the sale, the senior vice president now directly owns 139,338 shares in the company, valued at approximately $9,486,131.04. This trade represents a 45.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Todd A. Foley sold 28,105 shares of Kroger stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $66.62, for a total transaction of $1,872,355.10. Following the sale, the chief financial officer now owns 52,861 shares of the company’s stock, valued at approximately $3,521,599.82. The trade was a 34.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 160,186 shares of company stock worth $10,752,001. Company insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

KR has been the subject of several research analyst reports. Morgan Stanley increased their target price on shares of Kroger from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Telsey Advisory Group reissued an “outperform” rating and set a $73.00 price target on shares of Kroger in a research report on Monday, March 3rd. Wells Fargo & Company increased their price target on shares of Kroger from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Roth Capital set a $58.00 price target on shares of Kroger in a research report on Thursday, March 6th. Finally, StockNews.com cut shares of Kroger from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 14th. Seven equities 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 company’s stock. Based on data from MarketBeat, Kroger presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.88.

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.