GLOBALT Investments LLC GA Has $5.40 Million Stock Holdings in The Kroger Co. (NYSE:KR)

GLOBALT Investments LLC GA trimmed its holdings in The Kroger Co. (NYSE:KR) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,264 shares of the company’s stock after selling 492 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Kroger were worth $5,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in KR. Whipplewood Advisors LLC acquired a new position in shares of Kroger in the 4th quarter valued at about $26,000. Centricity Wealth Management LLC acquired a new position in Kroger during the 4th quarter worth approximately $32,000. Adirondack Trust Co. raised its stake in Kroger by 1,628.1% during the 4th 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 acquired a new position in Kroger during the 4th quarter worth approximately $39,000. Finally, McClarren Financial Advisors Inc. acquired a new position in Kroger during the 4th quarter worth approximately $39,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Kroger Stock Performance

KR stock opened at $65.12 on Monday. The business has a 50 day moving average of $62.74 and a 200-day moving average of $59.52. The Kroger Co. has a 12-month low of $49.04 and a 12-month high of $68.51. The firm has a market cap of $47.12 billion, a PE ratio of 17.23, a P/E/G ratio of 2.85 and a beta of 0.51. 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 the consensus estimate of $1.09 by $0.05. Kroger had a return on equity of 27.73% and a net margin of 1.85%. The business had revenue of $34.31 billion during the quarter, compared to analyst estimates of $34.96 billion. As a group, sell-side analysts expect that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger declared that its board has approved a share buyback program on Wednesday, December 11th that authorizes the company to repurchase $7.50 billion in shares. This repurchase authorization authorizes the company to repurchase up to 16.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Kroger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.97%. The ex-dividend date is Thursday, May 15th. Kroger’s dividend payout ratio (DPR) is 34.88%.

Insider Buying and Selling at Kroger

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KR. Roth Capital set a $58.00 price target on Kroger in a research note on Thursday, March 6th. JPMorgan Chase & Co. upped their price target on Kroger from $71.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Morgan Stanley increased their price objective on Kroger from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Bank of America increased their price objective on Kroger from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, Roth Mkm increased their price objective on Kroger from $52.00 to $56.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Seven 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.