Barnett & Company Inc. Sells 3,000 Shares of The Kroger Co. (NYSE:KR)

Barnett & Company Inc. decreased its holdings in shares of The Kroger Co. (NYSE:KR) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,433 shares of the company’s stock after selling 3,000 shares during the period. Kroger makes up about 1.9% of Barnett & Company Inc.’s holdings, making the stock its 16th largest holding. Barnett & Company Inc.’s holdings in Kroger were worth $2,962,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Checchi Capital Advisers LLC lifted its holdings in shares of Kroger by 2.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 6,704 shares of the company’s stock worth $410,000 after acquiring an additional 159 shares during the last quarter. HBK Sorce Advisory LLC lifted its stake in Kroger by 2.2% during the fourth quarter. HBK Sorce Advisory LLC now owns 7,834 shares of the company’s stock worth $479,000 after purchasing an additional 166 shares during the last quarter. Keybank National Association OH boosted its holdings in shares of Kroger by 0.7% in the 4th quarter. Keybank National Association OH now owns 23,410 shares of the company’s stock worth $1,432,000 after purchasing an additional 167 shares in the last quarter. Valmark Advisers Inc. increased its position in shares of Kroger by 4.3% during the 4th quarter. Valmark Advisers Inc. now owns 4,260 shares of the company’s stock valued at $260,000 after purchasing an additional 174 shares during the last quarter. Finally, Nexus Investment Management ULC raised its holdings in shares of Kroger by 0.4% during the 4th quarter. Nexus Investment Management ULC now owns 48,115 shares of the company’s stock valued at $2,942,000 after buying an additional 175 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Kroger Stock Performance

KR opened at $65.38 on Monday. The company has a 50 day simple moving average of $63.37 and a two-hundred day simple moving average of $59.95. 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 firm has a market cap of $47.31 billion, a P/E ratio of 17.30, a PEG ratio of 2.85 and a beta of 0.51. The Kroger Co. has a 1-year low of $49.04 and a 1-year high of $68.51.

Kroger (NYSE:KR) last issued its earnings results 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. The company had revenue of $34.31 billion during the quarter, compared to the consensus estimate of $34.96 billion. Kroger had a net margin of 1.85% and a return on equity of 27.73%. Equities analysts forecast that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Kroger declared that its board has approved a stock buyback program on Wednesday, December 11th that authorizes the company to repurchase $7.50 billion in shares. This repurchase authorization authorizes the company to buy up to 16.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Kroger Announces Dividend

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

Insider Buying and Selling

In related news, SVP Yael Cosset sold 115,149 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $68.08, for a total value of $7,839,343.92. Following the sale, the senior vice president now owns 139,338 shares in the company, valued at approximately $9,486,131.04. The trade was a 45.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Gabriel Arreaga sold 15,959 shares of Kroger stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $65.63, for a total transaction of $1,047,389.17. Following the completion of the transaction, the senior vice president now directly owns 89,085 shares of the company’s stock, valued at $5,846,648.55. The trade was a 15.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 212,244 shares of company stock worth $14,282,348. 1.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Telsey Advisory Group reiterated an “outperform” rating and set a $73.00 price target on shares of Kroger in a research report on Monday, March 3rd. UBS Group raised their target price on Kroger from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Guggenheim upped their price target on Kroger from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Morgan Stanley upped their target price on Kroger from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Finally, Roth Capital set a $58.00 target price on shares of Kroger in a research report on Thursday, March 6th. Seven equities research 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 an average rating of “Moderate Buy” and an average target price of $66.88.

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.