Amalgamated Bank Reduces Holdings in The Kroger Co. (NYSE:KR)

Amalgamated Bank cut its position in The Kroger Co. (NYSE:KR) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 132,774 shares of the company’s stock after selling 1,020 shares during the quarter. Amalgamated Bank’s holdings in Kroger were worth $8,119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Centricity Wealth Management LLC purchased a new stake in Kroger during the 4th quarter worth approximately $32,000. Adirondack Trust Co. grew 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 buying an additional 521 shares in the last quarter. Crews Bank & Trust bought a new stake in shares of Kroger in the fourth quarter worth $39,000. McClarren Financial Advisors Inc. acquired a new stake in Kroger in the fourth quarter valued at $39,000. Finally, Harbor Capital Advisors Inc. bought a new position in Kroger during the 3rd quarter valued at $40,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Todd A. Foley sold 16,932 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $61.44, for a total value of $1,040,302.08. Following the sale, the chief financial officer now owns 53,782 shares of the company’s stock, valued at approximately $3,304,366.08. The trade was a 23.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Stuart Aitken sold 132,627 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 217,523 shares of the company’s stock, valued at $13,743,103.14. This represents a 37.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 195,448 shares of company stock valued at $12,143,923 over the last 90 days. 1.40% of the stock is currently owned by company insiders.

Kroger Stock Down 2.7 %

Kroger stock opened at $63.71 on Thursday. 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 Kroger Co. has a one year low of $47.35 and a one year high of $66.26. The company has a 50-day simple moving average of $61.96 and a 200-day simple moving average of $58.45. The firm has a market capitalization of $46.10 billion, a P/E ratio of 16.86, a P/E/G ratio of 2.85 and a beta of 0.47.

Kroger (NYSE:KR) last posted its earnings results on Thursday, December 5th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.97 by $0.01. The firm had revenue of $33.63 billion during the quarter, compared to analysts’ expectations of $34.19 billion. Kroger had a net margin of 1.85% and a return on equity of 27.73%. Kroger’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 EPS. As a group, equities analysts expect that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger announced that its Board of Directors has authorized 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management 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 paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, February 14th. Kroger’s dividend payout ratio is currently 33.86%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on KR shares. BMO Capital Markets upped their target price on shares of 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 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. JPMorgan Chase & Co. lifted their target price on Kroger from $69.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Jefferies Financial Group raised Kroger from a “hold” rating to a “buy” rating and upped their price target for the company from $54.00 to $73.00 in a research report on Tuesday, December 3rd. Finally, Telsey Advisory Group raised their price objective on Kroger from $70.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.