The Kroger Co. (NYSE:KR) SVP Sells $1,967,114.24 in Stock

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

Kroger Stock Down 0.8 %

Kroger stock opened at $65.46 on Thursday. The stock has a market cap of $47.37 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 2.85 and a beta of 0.51. 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 stock has a fifty day moving average of $63.13 and a 200 day moving average of $59.74. The Kroger Co. has a one year low of $49.04 and a one year high of $68.51.

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

Kroger announced that its board has initiated a stock buyback plan on Wednesday, December 11th that authorizes the company to buyback $7.50 billion in shares. This buyback authorization authorizes the company to buy up to 16.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Kroger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be paid a $0.32 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.28 annualized dividend and a dividend yield of 1.96%. Kroger’s dividend payout ratio (DPR) is 34.88%.

Institutional Trading of Kroger

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Kroger by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 82,223,697 shares of the company’s stock valued at $5,027,979,000 after acquiring an additional 773,182 shares during the period. State Street Corp lifted its holdings in Kroger by 6.8% during the third quarter. State Street Corp now owns 33,057,629 shares of the company’s stock valued at $1,894,202,000 after purchasing an additional 2,110,681 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Kroger by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 16,436,688 shares of the company’s stock worth $1,002,479,000 after purchasing an additional 416,962 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Kroger by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 14,113,596 shares of the company’s stock worth $863,060,000 after purchasing an additional 120,250 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Kroger during the 4th quarter valued at $598,390,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $73.00 price objective on shares of Kroger in a research note on Monday, March 3rd. Evercore ISI upped their price target on Kroger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Bank of America lifted their price objective on Kroger from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, December 20th. The Goldman Sachs Group reissued a “buy” rating and issued a $70.00 target price on shares of Kroger in a research note on Tuesday, February 4th. Finally, Morgan Stanley lifted their price target on Kroger from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Seven equities research 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. According to MarketBeat, Kroger has an average rating of “Moderate Buy” and an average target price 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.