Generali Asset Management SPA SGR Invests $5 Million in The Kroger Co. (NYSE:KR)

Generali Asset Management SPA SGR acquired a new position in The Kroger Co. (NYSE:KR) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 81,724 shares of the company’s stock, valued at approximately $4,997,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of KR. GSA Capital Partners LLP grew its position in shares of Kroger by 17.8% in the 3rd quarter. GSA Capital Partners LLP now owns 8,727 shares of the company’s stock worth $500,000 after buying an additional 1,320 shares during the last quarter. Natixis Advisors LLC boosted its stake in Kroger by 6.1% in the 3rd quarter. Natixis Advisors LLC now owns 390,443 shares of the company’s stock worth $22,373,000 after purchasing an additional 22,547 shares in the last quarter. Swiss National Bank boosted its stake in Kroger by 0.3% in the 3rd quarter. Swiss National Bank now owns 2,035,200 shares of the company’s stock worth $116,617,000 after purchasing an additional 5,200 shares in the last quarter. Meeder Advisory Services Inc. boosted its stake in Kroger by 4.2% in the 3rd quarter. Meeder Advisory Services Inc. now owns 10,054 shares of the company’s stock worth $576,000 after purchasing an additional 409 shares in the last quarter. Finally, OneAscent Wealth Management LLC acquired a new stake in Kroger in the 3rd quarter worth approximately $258,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Kroger Stock Performance

KR opened at $65.94 on Wednesday. The stock has a market cap of $47.71 billion, a P/E ratio of 17.44, a P/E/G ratio of 2.85 and a beta of 0.51. The firm has a fifty day moving average price of $62.99 and a 200 day moving average price of $59.70. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.54 and a quick ratio of 1.07. The Kroger Co. has a 1 year low of $49.04 and a 1 year high of $68.51.

Kroger (NYSE:KR) last issued its quarterly earnings results on Thursday, March 6th. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.09 by $0.05. The company had revenue of $34.31 billion during the quarter, compared to analyst estimates of $34.96 billion. Kroger had a net margin of 1.85% and a return on equity of 27.73%. Equities 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 declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Thursday, May 15th. Kroger’s payout ratio is presently 34.88%.

Kroger declared that its Board of Directors has authorized a stock 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 buy up to 16.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Jefferies Financial Group upgraded shares of Kroger from a “hold” rating to a “buy” rating and lifted their target price for the stock from $54.00 to $73.00 in a research note on Tuesday, December 3rd. Bank of America lifted their price objective on shares of Kroger from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Citigroup lifted their price objective on shares of Kroger from $61.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, March 7th. Roth Mkm lifted their price objective on shares of Kroger from $52.00 to $56.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, BMO Capital Markets lifted their price objective on shares of Kroger from $60.00 to $63.00 and gave the company a “market perform” rating in a research note on Thursday, December 12th. Seven research 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.88.

Insider Buying and Selling

In other news, CFO Todd A. Foley sold 16,932 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $61.44, for a total transaction of $1,040,302.08. Following the completion of the sale, the chief financial officer now owns 53,782 shares of the company’s stock, valued at $3,304,366.08. This represents a 23.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian W. Nichols sold 1,300 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $66.71, for a total transaction of $86,723.00. Following the sale, the vice president now directly owns 12,090 shares of the company’s stock, valued at $806,523.90. The trade was a 9.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 213,217 shares of company stock valued at $14,275,261. 1.40% of the stock is owned by corporate insiders.

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.