Nexus Investment Management ULC Acquires 2,450 Shares of The Kroger Co. (NYSE:KR)

Nexus Investment Management ULC lifted its position in The Kroger Co. (NYSE:KR) by 5.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 50,565 shares of the company’s stock after purchasing an additional 2,450 shares during the quarter. Kroger accounts for approximately 0.5% of Nexus Investment Management ULC’s holdings, making the stock its 24th biggest holding. Nexus Investment Management ULC’s holdings in Kroger were worth $3,423,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Kroger by 0.6% during the third quarter. JPMorgan Chase & Co. now owns 6,164,855 shares of the company’s stock valued at $353,246,000 after purchasing an additional 37,222 shares during the last quarter. Mutual Advisors LLC bought a new stake in Kroger during the 4th quarter worth about $201,000. Brighton Jones LLC boosted its stake in shares of Kroger by 27.3% in the 4th quarter. Brighton Jones LLC now owns 15,733 shares of the company’s stock valued at $962,000 after purchasing an additional 3,373 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Kroger by 37.9% during the fourth quarter. Blue Trust Inc. now owns 10,186 shares of the company’s stock worth $584,000 after buying an additional 2,799 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Kroger by 48.3% during the fourth quarter. Pacer Advisors Inc. now owns 85,171 shares of the company’s stock worth $5,208,000 after buying an additional 27,753 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on KR shares. The Goldman Sachs Group reiterated a “buy” rating and set a $70.00 target price on shares of Kroger in a research report on Tuesday, February 4th. JPMorgan Chase & Co. raised their price target on Kroger from $72.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Melius upgraded Kroger from a “sell” rating to a “hold” rating and set a $70.00 price objective for the company in a report on Tuesday, May 20th. Evercore ISI raised their target price on Kroger from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. Finally, Melius Research upgraded Kroger from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 20th. Eight 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, Kroger currently has an average rating of “Moderate Buy” and an average target price of $68.06.

Insider Activity at Kroger

In related news, SVP Kenneth C. Kimball sold 11,000 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $65.37, for a total transaction of $719,070.00. Following the completion of the transaction, the senior vice president now directly owns 127,106 shares in the company, valued at approximately $8,308,919.22. This trade represents a 7.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Yael Cosset sold 115,149 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $68.08, for a total value of $7,839,343.92. Following the transaction, the senior vice president now owns 139,338 shares of the company’s stock, valued at approximately $9,486,131.04. The trade was a 45.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 334,923 shares of company stock valued at $22,867,124. 0.44% of the stock is owned by corporate insiders.

Kroger Trading Down 1.2%

NYSE:KR opened at $66.89 on Friday. The Kroger Co. has a fifty-two week low of $49.04 and a fifty-two week high of $73.63. 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 stock has a market capitalization of $44.20 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 2.85 and a beta of 0.62. The business’s 50-day simple moving average is $69.06 and its 200-day simple moving average is $64.43.

Kroger (NYSE:KR) last posted its earnings results on Thursday, March 6th. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. Kroger had a return on equity of 27.73% and a net margin of 1.85%. The business had revenue of $34.31 billion during the quarter, compared to analysts’ expectations of $34.96 billion. Sell-side analysts expect that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Kroger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Thursday, May 15th. Kroger’s dividend payout ratio is 34.88%.

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.