The Kroger Co. (NYSE:KR) Stake Trimmed by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lowered its stake in shares of The Kroger Co. (NYSE:KR) by 0.2% in the 4th quarter, HoldingsChannel reports. The firm owned 3,108,320 shares of the company’s stock after selling 6,399 shares during the quarter. Kroger accounts for 1.4% of Brandywine Global Investment Management LLC’s portfolio, making the stock its 10th biggest position. Brandywine Global Investment Management LLC’s holdings in Kroger were worth $190,074,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Brown Brothers Harriman & Co. grew its position in Kroger by 0.9% during the fourth quarter. Brown Brothers Harriman & Co. now owns 18,045 shares of the company’s stock worth $1,103,000 after buying an additional 154 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in shares of Kroger by 2.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 6,704 shares of the company’s stock worth $410,000 after buying an additional 159 shares during the period. HBK Sorce Advisory LLC grew its stake in shares of Kroger by 2.2% in the fourth quarter. HBK Sorce Advisory LLC now owns 7,834 shares of the company’s stock worth $479,000 after purchasing an additional 166 shares during the last quarter. Keybank National Association OH increased its stake in shares of Kroger by 0.7% during the fourth quarter. Keybank National Association OH now owns 23,410 shares of the company’s stock valued at $1,432,000 after buying an additional 167 shares during the period. Finally, Valmark Advisers Inc. lifted its position in shares of Kroger by 4.3% in the 4th quarter. Valmark Advisers Inc. now owns 4,260 shares of the company’s stock worth $260,000 after purchasing an additional 174 shares during the period. Institutional investors own 80.93% of the company’s stock.

Insider Activity at Kroger

In other Kroger news, 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 value of $86,723.00. Following the completion of the sale, the vice president now directly owns 12,090 shares in the company, valued at approximately $806,523.90. This represents a 9.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Carin L. Fike sold 4,492 shares of Kroger stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $66.53, for a total value of $298,852.76. Following the completion of the sale, the vice president now owns 3,480 shares of the company’s stock, valued at $231,524.40. The trade was a 56.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 223,244 shares of company stock worth $15,001,418 in the last 90 days. 1.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

KR has been the subject of several research analyst reports. Bank of America raised their price objective on shares of Kroger from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Wells Fargo & Company raised their price objective on Kroger from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Evercore ISI increased their price target on shares of Kroger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Citigroup lifted their price target on Kroger from $61.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, March 7th. Finally, BMO Capital Markets upped their price target on Kroger from $60.00 to $63.00 and gave the company a “market perform” rating in a report on Thursday, December 12th. 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $66.88.

Kroger Price Performance

Kroger stock opened at $66.77 on Friday. The Kroger Co. has a 52-week low of $49.04 and a 52-week high of $68.51. The company has a market cap of $48.32 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 2.85 and a beta of 0.51. The firm’s fifty day moving average is $64.04 and its 200 day moving average is $60.36. 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 released 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 return on equity of 27.73% and a net margin of 1.85%. Sell-side analysts forecast that The Kroger Co. will post 4.44 EPS for the current fiscal year.

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

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 paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.92%. The ex-dividend date is Thursday, May 15th. Kroger’s dividend payout ratio is presently 34.88%.

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.