Insider Selling: The Kroger Co. (NYSE:KR) SVP Sells 29,554 Shares of Stock

The Kroger Co. (NYSE:KR) SVP Timothy A. Massa sold 29,554 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $66.56, for a total value of $1,967,114.24. Following the completion of the transaction, the senior vice president now directly owns 103,092 shares in the company, valued at $6,861,803.52. This trade represents a 22.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Kroger Stock Performance

Shares of NYSE:KR traded up $1.23 during trading on Monday, hitting $66.33. The stock had a trading volume of 1,555,483 shares, compared to its average volume of 4,819,866. The Kroger Co. has a 12-month low of $49.04 and a 12-month high of $68.51. The stock has a market capitalization of $47.99 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 2.85 and a beta of 0.51. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 1.74. The stock has a 50-day simple moving average of $62.74 and a two-hundred day simple moving average of $59.52.

Kroger (NYSE:KR) last announced its quarterly earnings data on Thursday, March 6th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.05. The firm had revenue of $34.31 billion during the quarter, compared to analysts’ expectations of $34.96 billion. Kroger had a return on equity of 27.73% and a net margin of 1.85%. On average, equities research analysts expect that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Kroger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, May 15th. Kroger’s dividend payout ratio is currently 34.88%.

Kroger announced that its board has approved a share buyback plan on Wednesday, December 11th that allows the company to repurchase $7.50 billion in shares. This repurchase authorization allows the company to repurchase up to 16.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Kroger

A number of institutional investors and hedge funds have recently made changes to their positions in KR. Norges Bank acquired a new stake in shares of Kroger in the fourth quarter worth approximately $598,390,000. Steadfast Capital Management LP purchased a new stake in Kroger during the 4th quarter worth about $277,989,000. Junto Capital Management LP purchased a new stake in Kroger during the 4th quarter worth about $264,207,000. Wellington Management Group LLP increased its holdings in Kroger by 11,570.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,729,788 shares of the company’s stock worth $156,417,000 after purchasing an additional 2,706,398 shares during the period. Finally, State Street Corp increased its holdings in Kroger by 6.8% during the 3rd quarter. State Street Corp now owns 33,057,629 shares of the company’s stock worth $1,894,202,000 after purchasing an additional 2,110,681 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on KR shares. UBS Group upped their price objective on Kroger from $63.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Bank of America upped their target price on Kroger from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Morgan Stanley upped their target price on Kroger from $62.00 to $65.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Guggenheim upped their target price on Kroger from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company upped their target price on Kroger from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.88.

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.