The Kroger Co. (NYSE:KR) Stake Cut by Independence Bank of Kentucky

Independence Bank of Kentucky lessened its holdings in shares of The Kroger Co. (NYSE:KR) by 20.8% during the 1st quarter, HoldingsChannel reports. The fund owned 4,957 shares of the company’s stock after selling 1,300 shares during the period. Independence Bank of Kentucky’s holdings in Kroger were worth $336,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Norges Bank acquired a new position in Kroger in the 4th quarter valued at approximately $598,390,000. Steadfast Capital Management LP purchased a new position in shares of Kroger during the 4th quarter valued at $277,989,000. Junto Capital Management LP acquired a new position in shares of Kroger in the fourth quarter worth $264,207,000. Alyeska Investment Group L.P. acquired a new position in shares of Kroger in the fourth quarter worth $123,829,000. Finally, FMR LLC raised its holdings in shares of Kroger by 39.1% during the fourth quarter. FMR LLC now owns 7,054,824 shares of the company’s stock worth $431,402,000 after acquiring an additional 1,981,259 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Kroger Stock Down 0.2%

Kroger stock opened at $66.11 on Friday. 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 fifty-two week low of $49.04 and a fifty-two week high of $73.63. The firm has a fifty day moving average price of $69.11 and a two-hundred day moving average price of $64.82. The firm has a market cap of $43.69 billion, a price-to-earnings ratio of 17.49, a P/E/G ratio of 2.85 and a beta of 0.58.

Kroger (NYSE:KR) last posted its quarterly earnings data on Thursday, March 6th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $34.96 billion. As a group, analysts forecast that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.94%. The ex-dividend date was Thursday, May 15th. Kroger’s dividend payout ratio is currently 34.88%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KR. Guggenheim boosted their target price on Kroger from $71.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, April 3rd. Citigroup boosted their price target on Kroger from $61.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, March 7th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $73.00 price objective on shares of Kroger in a research report on Monday, March 3rd. JPMorgan Chase & Co. lifted their target price on shares of Kroger from $72.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Finally, Morgan Stanley increased their price target on shares of Kroger from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Kroger currently has a consensus rating of “Moderate Buy” and an average price target of $68.06.

Insider Transactions at Kroger

In related news, SVP Yael Cosset sold 115,149 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $68.08, for a total transaction of $7,839,343.92. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christine S. Wheatley sold 30,000 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $72.07, for a total transaction of $2,162,100.00. Following the transaction, the executive vice president now owns 97,737 shares in the company, valued at approximately $7,043,905.59. The trade was a 23.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 306,818 shares of company stock worth $20,994,769 over the last three months. 0.44% of the stock is currently owned by 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.