Alethea Capital Management LLC Takes Position in The Kroger Co. (NYSE:KR)

Alethea Capital Management LLC purchased a new position in shares of The Kroger Co. (NYSE:KR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,284 shares of the company’s stock, valued at approximately $417,000. Kroger comprises about 0.3% of Alethea Capital Management LLC’s holdings, making the stock its 15th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Altshuler Shaham Ltd bought a new stake in shares of Kroger in the 2nd quarter valued at about $28,000. Northwest Investment Counselors LLC bought a new stake in Kroger in the third quarter valued at approximately $34,000. Harbor Capital Advisors Inc. acquired a new stake in Kroger in the third quarter worth $40,000. Newbridge Financial Services Group Inc. raised its holdings in Kroger by 218.8% in the second quarter. Newbridge Financial Services Group Inc. now owns 714 shares of the company’s stock worth $36,000 after purchasing an additional 490 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in shares of Kroger during the third quarter worth $43,000. 80.93% of the stock is owned by institutional investors.

Kroger Stock Up 1.0 %

Shares of KR stock opened at $61.08 on Friday. The firm’s fifty day moving average price is $57.42 and its two-hundred day moving average price is $54.41. The Kroger Co. has a 1 year low of $42.97 and a 1 year high of $61.18. The company has a current ratio of 0.87, a quick ratio of 0.46 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $44.19 billion, a P/E ratio of 15.99, a PEG ratio of 0.95 and a beta of 0.48.

Kroger (NYSE:KR) last released its earnings results on Thursday, September 12th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.02. The business had revenue of $33.91 billion for the quarter, compared to analyst estimates of $34.09 billion. Kroger had a return on equity of 28.54% and a net margin of 1.86%. Kroger’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.96 earnings per share. On average, equities analysts predict that The Kroger Co. will post 4.46 EPS for the current fiscal year.

Kroger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.10%. Kroger’s payout ratio is 33.51%.

Insiders Place Their Bets

In related news, VP Carin L. Fike sold 3,010 shares of Kroger stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $55.57, for a total transaction of $167,265.70. Following the completion of the sale, the vice president now owns 47,593 shares of the company’s stock, valued at approximately $2,644,743.01. The trade was a 5.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Valerie L. Jabbar sold 3,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $55.91, for a total transaction of $167,730.00. Following the completion of the transaction, the senior vice president now directly owns 74,084 shares in the company, valued at approximately $4,142,036.44. This represents a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,932 shares of company stock valued at $721,243. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KR. StockNews.com cut shares of Kroger from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 16th. BNP Paribas initiated coverage on Kroger in a research report on Friday, October 18th. They set a “neutral” rating and a $56.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Kroger from $58.00 to $59.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Evercore ISI increased their target price on Kroger from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. Finally, Melius Research began coverage on shares of Kroger in a research note on Monday, September 23rd. They issued a “hold” rating and a $55.00 price target on the stock. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.55.

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.