Concord Wealth Partners Cuts Holdings in The Kroger Co. (NYSE:KR)

Concord Wealth Partners lessened its holdings in The Kroger Co. (NYSE:KR) by 38.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 383 shares of the company’s stock after selling 241 shares during the period. Concord Wealth Partners’ holdings in Kroger were worth $26,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KR. Millstone Evans Group LLC acquired a new position in shares of Kroger during the 4th quarter worth about $25,000. Transce3nd LLC purchased a new stake in shares of Kroger in the fourth quarter valued at about $28,000. Garde Capital Inc. purchased a new stake in Kroger during the first quarter worth about $31,000. Lee Danner & Bass Inc. acquired a new position in Kroger during the fourth quarter worth about $32,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Kroger during the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

KR has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Kroger from $57.00 to $67.00 and gave the stock a “hold” rating in a report on Monday, June 23rd. UBS Group reiterated a “neutral” rating and set a $74.00 price target (up previously from $66.00) on shares of Kroger in a research report on Monday, June 23rd. JPMorgan Chase & Co. increased their target price on Kroger from $72.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Melius Research raised Kroger from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 20th. Finally, Wall Street Zen raised Kroger from a “hold” rating to a “buy” rating in a research note on Saturday, June 21st. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $70.00.

Insiders Place Their Bets

In other Kroger news, Director Clyde R. Moore sold 26,814 shares of the firm’s stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $70.50, for a total transaction of $1,890,387.00. Following the transaction, the director owned 99,143 shares of the company’s stock, valued at approximately $6,989,581.50. This trade represents a 21.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gabriel Arreaga sold 37,960 shares of Kroger stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $72.44, for a total transaction of $2,749,822.40. Following the completion of the sale, the executive vice president owned 75,218 shares of the company’s stock, valued at $5,448,791.92. This trade represents a 33.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 243,815 shares of company stock valued at $17,652,983. 0.44% of the stock is owned by company insiders.

Kroger Stock Up 0.5%

Shares of NYSE:KR opened at $72.28 on Friday. The stock has a market cap of $47.77 billion, a price-to-earnings ratio of 19.70, a P/E/G ratio of 2.29 and a beta of 0.59. The company has a 50 day moving average of $68.88 and a 200-day moving average of $66.53. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.95 and a quick ratio of 0.53. The Kroger Co. has a one year low of $50.69 and a one year high of $74.11.

Kroger (NYSE:KR) last announced its quarterly earnings results on Friday, June 20th. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The firm’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.43 EPS. On average, sell-side analysts forecast that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be given a dividend of $0.35 per share. This is a boost from Kroger’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Friday, August 15th. Kroger’s dividend payout ratio (DPR) is 34.88%.

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.