Centricity Wealth Management LLC Takes $32,000 Position in The Kroger Co. (NYSE:KR)

Centricity Wealth Management LLC purchased a new position in shares of The Kroger Co. (NYSE:KR) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 525 shares of the company’s stock, valued at approximately $32,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Adirondack Trust Co. lifted its position in shares of Kroger by 1,628.1% during the fourth quarter. Adirondack Trust Co. now owns 553 shares of the company’s stock worth $34,000 after purchasing an additional 521 shares in the last quarter. Crews Bank & Trust bought a new position in Kroger in the 4th quarter worth approximately $39,000. McClarren Financial Advisors Inc. acquired a new position in Kroger during the 4th quarter worth $39,000. Harbor Capital Advisors Inc. bought a new position in Kroger in the 3rd quarter valued at $40,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Kroger in the 3rd quarter valued at $43,000. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In related news, SVP Stuart Aitken sold 132,627 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $63.18, for a total value of $8,379,373.86. Following the completion of the transaction, the senior vice president now owns 217,523 shares of the company’s stock, valued at approximately $13,743,103.14. This trade represents a 37.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Yael Cosset sold 20,000 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was 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 directly 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 195,448 shares of company stock valued at $12,143,923. Company insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. BMO Capital Markets upped their price target on Kroger from $60.00 to $63.00 and gave the company a “market perform” rating in a research note on Thursday, December 12th. Bank of America upped their target price on shares of Kroger from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Citigroup reiterated a “neutral” rating and set a $61.00 price target on shares of Kroger in a research report on Friday, January 24th. Morgan Stanley increased their price objective on shares of Kroger from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Finally, UBS Group lifted their target price on shares of Kroger from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.19.

Kroger Stock Performance

KR stock opened at $65.03 on Friday. The Kroger Co. has a 1-year low of $46.96 and a 1-year high of $66.18. The business’s 50-day moving average price is $61.71 and its two-hundred day moving average price is $58.12. The firm has a market cap of $47.05 billion, a PE ratio of 17.20, a P/E/G ratio of 2.90 and a beta of 0.47. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 1.74.

Kroger (NYSE:KR) last issued its quarterly earnings data on Thursday, December 5th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.01. The business had revenue of $33.63 billion during the quarter, compared to analyst estimates of $34.19 billion. Kroger had a return on equity of 27.73% and a net margin of 1.85%. Kroger’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.95 EPS. As a group, research analysts forecast that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger announced that its board has initiated a share repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 16.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Kroger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be given a $0.32 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.28 annualized dividend and a yield of 1.97%. Kroger’s dividend payout ratio is currently 33.86%.

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.