Tobam Reduces Stock Position in The Kroger Co. (NYSE:KR)

Tobam decreased its position in shares of The Kroger Co. (NYSE:KR) by 63.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,293 shares of the company’s stock after selling 97,349 shares during the quarter. Tobam’s holdings in Kroger were worth $3,442,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new stake in Kroger during the third quarter worth about $34,000. Adirondack Trust Co. grew its stake in shares of Kroger by 1,628.1% during the 4th quarter. Adirondack Trust Co. now owns 553 shares of the company’s stock worth $34,000 after purchasing an additional 521 shares during the period. Crews Bank & Trust purchased a new position in shares of Kroger during the 4th quarter valued at approximately $39,000. Harbor Capital Advisors Inc. acquired a new position in shares of Kroger in the 3rd quarter valued at $40,000. Finally, Capital Performance Advisors LLP purchased a new stake in Kroger during the third quarter worth $43,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Kroger Stock Down 0.9 %

Shares of KR opened at $64.86 on Friday. The stock has a fifty day simple moving average of $60.66 and a two-hundred day simple moving average of $57.31. 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 company has a market capitalization of $46.93 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 2.90 and a beta of 0.47. The Kroger Co. has a 52-week low of $44.48 and a 52-week high of $65.75.

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

Kroger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, February 14th. Kroger’s dividend payout ratio (DPR) is presently 33.86%.

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 generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

KR has been the subject of a number of analyst reports. BNP Paribas started coverage on shares of Kroger in a research report on Friday, October 18th. They issued a “neutral” rating and a $56.00 price objective for the company. BMO Capital Markets raised their price objective on Kroger from $60.00 to $63.00 and gave the company a “market perform” rating in a report on Thursday, December 12th. Wells Fargo & Company upped their target price on Kroger from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Evercore ISI lifted their price target on shares of Kroger from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Bank of America increased their price objective on shares of Kroger from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, December 20th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Kroger currently has an average rating of “Moderate Buy” and an average price target of $66.81.

Insider Buying and Selling

In other Kroger news, SVP Yael Cosset sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $58.39, for a total value of $1,167,800.00. Following the completion of the transaction, the senior vice president now owns 144,620 shares of the company’s stock, valued at $8,444,361.80. This trade represents a 12.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Todd A. Foley sold 16,932 shares of the company’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 directly owns 53,782 shares in the company, valued at $3,304,366.08. This represents a 23.94 % decrease in their position. 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. 1.40% of the stock is currently owned by insiders.

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.