The Kroger Co. (NYSE:KR) VP Brian W. Nichols Sells 1,300 Shares of Stock

The Kroger Co. (NYSE:KR) VP Brian W. Nichols sold 1,300 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $66.71, for a total value of $86,723.00. Following the completion of the transaction, the vice president now directly owns 12,090 shares in the company, valued at approximately $806,523.90. This represents a 9.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Kroger Price Performance

Shares of Kroger stock opened at $66.40 on Tuesday. 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 Kroger Co. has a twelve month low of $49.04 and a twelve month high of $68.51. The business has a 50-day moving average price of $62.86 and a 200 day moving average price of $59.61. The firm has a market cap of $48.05 billion, a PE ratio of 17.57, a P/E/G ratio of 2.85 and a beta of 0.51.

Kroger (NYSE:KR) last released its quarterly earnings results on Thursday, March 6th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.05. The firm had revenue of $34.31 billion for the quarter, compared to analysts’ expectations of $34.96 billion. Kroger had a net margin of 1.85% and a return on equity of 27.73%. Sell-side analysts predict that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Kroger announced that its board has initiated a stock buyback program on Wednesday, December 11th that permits the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 16.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Kroger Dividend Announcement

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. The ex-dividend date is Thursday, May 15th. This represents a $1.28 annualized dividend and a dividend yield of 1.93%. Kroger’s dividend payout ratio (DPR) is presently 34.88%.

Institutional Investors Weigh In On Kroger

Large investors have recently bought and sold shares of the company. Millstone Evans Group LLC purchased a new position in shares of Kroger in the fourth quarter worth about $25,000. Whipplewood Advisors LLC purchased a new position in Kroger in the 4th quarter worth approximately $26,000. TCTC Holdings LLC acquired a new position in shares of Kroger during the 4th quarter worth approximately $27,000. Transce3nd LLC purchased a new stake in shares of Kroger in the fourth quarter valued at approximately $28,000. Finally, Centricity Wealth Management LLC acquired a new stake in shares of Kroger in the fourth quarter valued at approximately $32,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Bank of America boosted their target price on shares of Kroger from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $73.00 price target on shares of Kroger in a research note on Monday, March 3rd. Jefferies Financial Group raised Kroger from a “hold” rating to a “buy” rating and raised their price objective for the company from $54.00 to $73.00 in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. raised their target price on shares of Kroger from $71.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Finally, UBS Group boosted their price objective on Kroger from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Kroger has an average rating of “Moderate Buy” and an average target price of $66.88.

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.