Intact Investment Management Inc. purchased a new position in The Kroger Co. (NYSE:KR – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,100 shares of the company’s stock, valued at approximately $67,000.
Other hedge funds have also recently added to or reduced their stakes in the company. 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 shares of Kroger in the 4th quarter valued at about $32,000. Adirondack Trust Co. lifted its stake in shares of Kroger by 1,628.1% in the 4th quarter. Adirondack Trust Co. now owns 553 shares of the company’s stock valued at $34,000 after purchasing an additional 521 shares in the last quarter. Crews Bank & Trust acquired a new position in shares of Kroger in the 4th quarter valued at about $39,000. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Kroger in the 4th quarter valued at about $39,000. 80.93% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Kroger
In other news, CFO Todd A. Foley sold 28,105 shares of the business’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 sale, the chief financial officer now owns 52,861 shares of the company’s stock, valued at approximately $3,521,599.82. The trade was a 34.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Yael Cosset sold 115,149 shares of the business’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 sale, the senior vice president now directly owns 139,338 shares in the company, valued at $9,486,131.04. This represents a 45.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 160,186 shares of company stock worth $10,752,001 in the last 90 days. 1.40% of the stock is currently owned by company insiders.
Kroger Price Performance
Kroger (NYSE:KR – Get Free Report) last issued its quarterly 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. 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 the consensus estimate of $34.96 billion. As a group, equities research analysts expect that The Kroger Co. will post 4.44 earnings per share for the current year.
Kroger announced that its board has approved a share buyback program on Wednesday, December 11th that permits the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 16.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
Kroger Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.28 dividend on an annualized basis and a yield of 1.97%. Kroger’s dividend payout ratio is currently 34.88%.
Wall Street Analyst Weigh In
KR has been the topic of several analyst reports. Morgan Stanley raised their target price on Kroger from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Bank of America raised their target price on Kroger from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, December 20th. Jefferies Financial Group upgraded Kroger from a “hold” rating to a “buy” rating and raised their target price for the company from $54.00 to $73.00 in a report on Tuesday, December 3rd. The Goldman Sachs Group reiterated a “buy” rating and set a $70.00 target price on shares of Kroger in a report on Tuesday, February 4th. Finally, UBS Group raised their target price on Kroger from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Seven equities 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 data from MarketBeat.com, Kroger currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.88.
View Our Latest Stock Report on KR
Kroger Company 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.
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