MetLife Investment Management LLC Cuts Stake in The Kroger Co. (NYSE:KR)

MetLife Investment Management LLC cut its stake in shares of The Kroger Co. (NYSE:KR) by 3.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 172,657 shares of the company’s stock after selling 5,779 shares during the period. MetLife Investment Management LLC’s holdings in Kroger were worth $9,893,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CreativeOne Wealth LLC boosted its position in Kroger by 20.5% in the 3rd quarter. CreativeOne Wealth LLC now owns 23,328 shares of the company’s stock valued at $1,337,000 after buying an additional 3,972 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Kroger by 224.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 487,200 shares of the company’s stock worth $27,917,000 after acquiring an additional 337,000 shares in the last quarter. Blueshift Asset Management LLC purchased a new position in Kroger in the third quarter valued at about $457,000. Avestar Capital LLC grew its stake in Kroger by 12.8% during the 3rd quarter. Avestar Capital LLC now owns 5,154 shares of the company’s stock valued at $295,000 after purchasing an additional 586 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Kroger during the 3rd quarter worth approximately $1,252,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Guggenheim increased their target price on Kroger from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Monday. StockNews.com lowered shares of Kroger from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 16th. Morgan Stanley boosted their price objective on Kroger from $57.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. Melius Research initiated coverage on Kroger in a report on Monday, September 23rd. They issued a “hold” rating and a $55.00 price objective for the company. Finally, Telsey Advisory Group lifted their target price on Kroger from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.55.

Insider Buying and Selling

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

Kroger Price Performance

NYSE:KR opened at $60.50 on Friday. The firm has a market cap of $43.77 billion, a P/E ratio of 15.84, a PEG ratio of 0.94 and a beta of 0.48. The Kroger Co. has a 52-week low of $42.97 and a 52-week high of $61.18. The business’s 50-day moving average price is $57.31 and its 200 day moving average price is $54.37. The company has a quick ratio of 0.46, a current ratio of 0.87 and a debt-to-equity ratio of 0.96.

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

Kroger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Friday, November 15th. Kroger’s dividend payout ratio (DPR) is 33.51%.

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.