TIAA Trust National Association Sells 392 Shares of The Kroger Co. (NYSE:KR)

TIAA Trust National Association trimmed its position in The Kroger Co. (NYSE:KR) by 2.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,895 shares of the company’s stock after selling 392 shares during the period. TIAA Trust National Association’s holdings in Kroger were worth $1,211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KR. Transce3nd LLC bought a new stake in Kroger in the 4th quarter valued at about $28,000. Garde Capital Inc. bought a new stake in Kroger during the 1st quarter worth approximately $31,000. Aster Capital Management DIFC Ltd bought a new stake in Kroger during the 4th quarter worth approximately $34,000. Sound Income Strategies LLC increased its holdings in Kroger by 46.7% during the 1st quarter. Sound Income Strategies LLC now owns 550 shares of the company’s stock worth $37,000 after purchasing an additional 175 shares in the last quarter. Finally, Accredited Wealth Management LLC bought a new stake in Kroger during the 4th quarter worth approximately $49,000. 80.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on KR shares. Deutsche Bank Aktiengesellschaft boosted their price objective on Kroger from $57.00 to $67.00 and gave the stock a “hold” rating in a report on Monday, June 23rd. Jefferies Financial Group set a $83.00 price objective on Kroger and gave the stock a “buy” rating in a report on Monday, June 23rd. Barclays started coverage on Kroger in a report on Monday, July 21st. They set an “equal weight” rating and a $75.00 price objective for the company. Guggenheim boosted their price objective on Kroger from $73.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, June 23rd. Finally, Wall Street Zen lowered Kroger from a “strong-buy” rating to a “buy” rating in a report on Saturday. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $70.16.

Insider Activity

In other Kroger news, EVP Gabriel Arreaga sold 37,960 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $72.44, for a total transaction of $2,749,822.40. Following the sale, the executive vice president owned 75,218 shares in the company, valued at $5,448,791.92. This represents a 33.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Clyde R. Moore sold 3,810 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $71.61, for a total value of $272,834.10. Following the sale, the director owned 85,850 shares in the company, valued at approximately $6,147,718.50. This represents a 4.25% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,948 shares of company stock valued at $14,422,926. 0.44% of the stock is currently owned by corporate insiders.

Kroger Price Performance

Kroger stock opened at $71.56 on Tuesday. The Kroger Co. has a 12 month low of $50.69 and a 12 month high of $74.11. The company has a current ratio of 0.95, a quick ratio of 0.53 and a debt-to-equity ratio of 1.92. The business’s 50 day simple moving average is $69.48 and its 200 day simple moving average is $67.57. The company has a market cap of $47.29 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 2.28 and a beta of 0.59.

Kroger (NYSE:KR) last posted its quarterly earnings data on Friday, June 20th. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.45 by $0.04. Kroger had a return on equity of 34.71% and a net margin of 1.89%. The business had revenue of $45.12 billion for the quarter, compared to the consensus estimate of $45.35 billion. During the same quarter in the prior year, the business earned $1.43 earnings per share. Kroger’s revenue for the quarter was down .3% on a year-over-year basis. Sell-side analysts forecast that The Kroger Co. will post 4.44 EPS for the current year.

Kroger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be given a dividend of $0.35 per share. This is an increase from Kroger’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, August 15th. Kroger’s dividend payout ratio (DPR) is currently 34.88%.

Kroger 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.