The Kroger Co. (NYSE:KR) SVP Sells $719,070.00 in Stock

The Kroger Co. (NYSE:KR) SVP Kenneth C. Kimball sold 11,000 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $65.37, for a total transaction of $719,070.00. Following the transaction, the senior vice president now owns 127,106 shares in the company, valued at $8,308,919.22. This represents a 7.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Kroger Stock Performance

Shares of KR stock opened at $65.38 on Tuesday. 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 50 day moving average price of $63.48 and a 200-day moving average price of $60.04. The Kroger Co. has a 52 week low of $49.04 and a 52 week high of $68.51. The firm has a market capitalization of $47.31 billion, a PE ratio of 17.30, a P/E/G ratio of 2.85 and a beta of 0.51.

Kroger (NYSE:KR) last announced its earnings results 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. The business 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%. As a group, equities research analysts expect that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be given a $0.32 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.28 annualized dividend and a yield of 1.96%. Kroger’s payout ratio is 34.88%.

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

Hedge Funds Weigh In On Kroger

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mascagni Wealth Management Inc. purchased a new position in shares of Kroger during the 4th quarter worth $49,000. 111 Capital purchased a new position in Kroger during the fourth quarter valued at $591,000. Wealth Enhancement Advisory Services LLC lifted its position in Kroger by 76.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 282,941 shares of the company’s stock valued at $17,302,000 after purchasing an additional 122,680 shares in the last quarter. NorthCrest Asset Manangement LLC grew its holdings in Kroger by 2.0% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 22,521 shares of the company’s stock valued at $1,377,000 after purchasing an additional 432 shares during the period. Finally, Wood Tarver Financial Group LLC bought a new position in shares of Kroger in the fourth quarter worth about $62,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

KR has been the subject of several research reports. Jefferies Financial Group raised Kroger from a “hold” rating to a “buy” rating and increased their target price for the stock from $54.00 to $73.00 in a research report on Tuesday, December 3rd. Evercore ISI raised their price objective on Kroger from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $70.00 target price on shares of Kroger in a research report on Tuesday, February 4th. Guggenheim lifted their price target on shares of Kroger from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, BMO Capital Markets upped their price objective on shares of Kroger from $60.00 to $63.00 and gave the stock a “market perform” rating in a report on Thursday, December 12th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.88.

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.