The Kroger Co. (NYSE:KR) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board lessened its stake in The Kroger Co. (NYSE:KR) by 1.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 31,060 shares of the company’s stock after selling 600 shares during the period. New Mexico Educational Retirement Board’s holdings in Kroger were worth $2,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new stake in shares of Kroger during the fourth quarter worth about $25,000. TCTC Holdings LLC purchased a new position in Kroger during the fourth quarter worth about $27,000. Transce3nd LLC purchased a new position in Kroger during the fourth quarter worth about $28,000. Garde Capital Inc. purchased a new position in Kroger during the first quarter worth about $31,000. Finally, Lee Danner & Bass Inc. purchased a new position in Kroger during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Buying and Selling

In other Kroger news, EVP Mary Ellen Adcock sold 34,250 shares of Kroger stock in a transaction on Friday, June 27th. The shares were sold at an average price of $71.16, for a total value of $2,437,230.00. Following the transaction, the executive vice president owned 184,473 shares in the company, valued at $13,127,098.68. This trade represents a 15.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christine S. Wheatley sold 30,000 shares of the firm’s stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $72.07, for a total transaction of $2,162,100.00. Following the completion of the transaction, the executive vice president directly owned 97,737 shares in the company, valued at approximately $7,043,905.59. This represents a 23.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 244,462 shares of company stock worth $17,649,963 over the last 90 days. Company insiders own 0.44% of the company’s stock.

Kroger Stock Up 0.7%

Shares of KR opened at $70.20 on Thursday. The firm has a market cap of $46.39 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 2.22 and a beta of 0.59. The company’s fifty day moving average is $68.97 and its two-hundred day moving average is $66.12. The Kroger Co. has a fifty-two week low of $50.69 and a fifty-two week high of $74.11. The company has a quick ratio of 0.53, a current ratio of 0.95 and a debt-to-equity ratio of 1.92.

Kroger (NYSE:KR) last announced its quarterly earnings results on Friday, June 20th. The company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. The company had revenue of $45.12 billion for the quarter, compared to analyst estimates of $45.35 billion. Kroger had a net margin of 1.76% and a return on equity of 30.01%. Kroger’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the business earned $1.43 EPS. Analysts forecast that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Kroger’s previous quarterly dividend of $0.32. Kroger’s dividend payout ratio (DPR) is 34.88%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wall Street Zen raised shares of Kroger from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. UBS Group reaffirmed a “neutral” rating and issued a $74.00 target price (up from $66.00) on shares of Kroger in a report on Monday, June 23rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Kroger from $57.00 to $67.00 and gave the company a “hold” rating in a report on Monday, June 23rd. JPMorgan Chase & Co. increased their target price on shares of Kroger from $72.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Finally, Morgan Stanley set a $76.00 target price on shares of Kroger and gave the company an “equal weight” rating in a report on Monday, June 23rd. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.00.

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.