Global Retirement Partners LLC Cuts Holdings in The Kroger Co. (NYSE:KR)

Global Retirement Partners LLC lowered its holdings in The Kroger Co. (NYSE:KR) by 14.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,028 shares of the company’s stock after selling 1,000 shares during the quarter. Global Retirement Partners LLC’s holdings in Kroger were worth $369,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Valmark Advisers Inc. grew its holdings in shares of Kroger by 4.3% in the 4th quarter. Valmark Advisers Inc. now owns 4,260 shares of the company’s stock worth $260,000 after acquiring an additional 174 shares during the period. Nexus Investment Management ULC grew its holdings in Kroger by 0.4% in the fourth quarter. Nexus Investment Management ULC now owns 48,115 shares of the company’s stock valued at $2,942,000 after purchasing an additional 175 shares during the last quarter. Sanibel Captiva Trust Company Inc. increased its position in shares of Kroger by 4.0% in the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 4,539 shares of the company’s stock valued at $278,000 after buying an additional 176 shares in the last quarter. Mendel Capital Management LLC raised its stake in shares of Kroger by 0.6% during the 3rd quarter. Mendel Capital Management LLC now owns 31,559 shares of the company’s stock worth $1,808,000 after buying an additional 181 shares during the last quarter. Finally, Cooper Financial Group boosted its position in shares of Kroger by 3.7% in the 4th quarter. Cooper Financial Group now owns 5,366 shares of the company’s stock worth $328,000 after buying an additional 190 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Kroger Price Performance

Shares of NYSE KR opened at $64.80 on Tuesday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.54 and a quick ratio of 1.07. The Kroger Co. has a 1-year low of $47.15 and a 1-year high of $66.18. The company has a market capitalization of $46.89 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 2.85 and a beta of 0.47. The business has a 50-day moving average of $61.82 and a 200-day moving average of $58.33.

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. Kroger had a net margin of 1.85% and a return on equity of 27.73%. The company had revenue of $33.63 billion during the quarter, compared to the consensus estimate of $34.19 billion. During the same quarter last year, the company earned $0.95 earnings per share. Kroger’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, equities analysts anticipate that The Kroger Co. will post 4.44 EPS for the current fiscal year.

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

Kroger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders 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 dividend on an annualized basis and a yield of 1.98%. Kroger’s payout ratio is currently 33.86%.

Insider Activity

In other Kroger news, CFO Todd A. Foley sold 16,932 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $61.44, for a total transaction of $1,040,302.08. Following the transaction, the chief financial officer now directly owns 53,782 shares in the company, valued at $3,304,366.08. This represents a 23.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Timothy A. Massa sold 25,889 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $60.12, for a total transaction of $1,556,446.68. Following the transaction, the senior vice president now directly owns 115,861 shares of the company’s stock, valued at approximately $6,965,563.32. This represents a 18.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 195,448 shares of company stock worth $12,143,923 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. UBS Group raised their target price on shares of Kroger from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. The Goldman Sachs Group reissued a “buy” rating and set a $70.00 price objective on shares of Kroger in a research note on Tuesday, February 4th. Roth Mkm upped their target price on Kroger from $52.00 to $56.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Citigroup reissued a “neutral” rating and set a $61.00 price target on shares of Kroger in a research report on Friday, January 24th. Finally, Morgan Stanley upped their price objective on Kroger from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Seven 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.19.

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.