New Mexico Educational Retirement Board Cuts Stock Holdings in The Kroger Co. (NYSE:KR)

New Mexico Educational Retirement Board lessened its stake in The Kroger Co. (NYSE:KR) by 3.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,660 shares of the company’s stock after selling 1,100 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Kroger were worth $1,936,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Adirondack Trust Co. increased its holdings in Kroger by 1,628.1% in the 4th quarter. Adirondack Trust Co. now owns 553 shares of the company’s stock worth $34,000 after acquiring an additional 521 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in Kroger in the 3rd quarter worth $34,000. Crews Bank & Trust acquired a new stake in Kroger during the 4th quarter worth $39,000. McClarren Financial Advisors Inc. acquired a new stake in Kroger during the 4th quarter worth $39,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in Kroger during the 3rd quarter worth $40,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Kroger Stock Down 0.7 %

KR stock opened at $65.20 on Monday. The company’s 50 day moving average price is $61.36 and its 200 day moving average price is $57.85. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.07 and a current ratio of 1.54. The Kroger Co. has a fifty-two week low of $45.88 and a fifty-two week high of $66.18. The firm has a market capitalization of $47.18 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 2.85 and a beta of 0.47.

Kroger (NYSE:KR) last announced its quarterly earnings results on Thursday, December 5th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.97 by $0.01. The company had revenue of $33.63 billion for the quarter, compared to analyst estimates of $34.19 billion. Kroger had a net margin of 1.85% and a return on equity of 27.73%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 earnings per share. On average, equities research analysts anticipate that The Kroger Co. will post 4.44 EPS for the current fiscal year.

Kroger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.28 annualized dividend and a yield of 1.96%. Kroger’s dividend payout ratio is currently 33.86%.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on KR shares. Guggenheim lifted their target price on shares of Kroger from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. UBS Group lifted their target price on shares of Kroger from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Citigroup reaffirmed a “neutral” rating and set a $61.00 target price on shares of Kroger in a research note on Friday, January 24th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $70.00 target price on shares of Kroger in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Kroger from $69.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.19.

Insider Buying and Selling at Kroger

In other news, SVP Yael Cosset sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $58.39, for a total transaction of $1,167,800.00. Following the transaction, the senior vice president now directly owns 144,620 shares in the company, valued at approximately $8,444,361.80. This trade represents a 12.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Timothy A. Massa sold 25,889 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $60.12, for a total transaction of $1,556,446.68. Following the transaction, the senior vice president now owns 115,861 shares in the company, valued at approximately $6,965,563.32. This trade represents a 18.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 195,448 shares of company stock worth $12,143,923 over the last three months. Insiders own 1.40% of the company’s stock.

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.