Baker Ellis Asset Management LLC Cuts Stake in The Kroger Co. (NYSE:KR)

Baker Ellis Asset Management LLC reduced its holdings in shares of The Kroger Co. (NYSE:KR) by 4.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 65,952 shares of the company’s stock after selling 3,003 shares during the period. Baker Ellis Asset Management LLC’s holdings in Kroger were worth $4,033,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Nexus Investment Management ULC boosted its stake in Kroger by 0.4% during the 4th quarter. Nexus Investment Management ULC now owns 48,115 shares of the company’s stock worth $2,942,000 after purchasing an additional 175 shares during the period. Sanibel Captiva Trust Company Inc. boosted its stake in Kroger by 4.0% during the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 4,539 shares of the company’s stock worth $278,000 after purchasing an additional 176 shares during the period. Mendel Capital Management LLC boosted its stake in Kroger by 0.6% during the 3rd quarter. Mendel Capital Management LLC now owns 31,559 shares of the company’s stock worth $1,808,000 after purchasing an additional 181 shares during the period. Cooper Financial Group boosted its stake in Kroger by 3.7% during the 4th quarter. Cooper Financial Group now owns 5,366 shares of the company’s stock worth $328,000 after purchasing an additional 190 shares during the period. Finally, City Center Advisors LLC boosted its stake in Kroger by 3.5% during the 4th quarter. City Center Advisors LLC now owns 5,748 shares of the company’s stock worth $351,000 after purchasing an additional 195 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Kroger Price Performance

KR opened at $58.78 on Thursday. The company’s 50 day simple moving average is $60.18 and its 200 day simple moving average is $56.72. 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 1 year low of $44.48 and a 1 year high of $63.59. The stock has a market capitalization of $42.53 billion, a PE ratio of 15.55, a P/E/G ratio of 2.77 and a beta of 0.48.

Kroger (NYSE:KR) last posted 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. Kroger had a net margin of 1.85% and a return on equity of 27.73%. The firm had revenue of $33.63 billion for the quarter, compared to analyst estimates of $34.19 billion. During the same quarter last year, the firm posted $0.95 earnings per share. Kroger’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, sell-side analysts expect that The Kroger Co. will post 4.44 EPS for the current year.

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

Analyst Ratings Changes

A number of equities analysts have commented on KR shares. Jefferies Financial Group upgraded shares of Kroger from a “hold” rating to a “buy” rating and upped their price objective for the stock from $54.00 to $73.00 in a research report on Tuesday, December 3rd. Bank of America upped their price objective on shares of Kroger from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Wells Fargo & Company upped their price objective on shares of Kroger from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. StockNews.com downgraded shares of Kroger from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 14th. Finally, BNP Paribas began coverage on shares of Kroger in a research report on Friday, October 18th. They set a “neutral” rating and a $56.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Kroger presently has a consensus rating of “Moderate Buy” and an average target price of $66.14.

Insider Activity at Kroger

In other news, SVP Yael Cosset sold 20,000 shares of Kroger 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 sale, the senior vice president now owns 144,620 shares in the company, valued at $8,444,361.80. This trade represents a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Todd A. Foley sold 16,932 shares of Kroger stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $61.44, for a total transaction of $1,040,302.08. Following the sale, the chief financial officer now owns 53,782 shares in the company, valued at $3,304,366.08. This represents a 23.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,448 shares of company stock worth $12,143,923. Company insiders own 1.40% of the company’s stock.

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.