Thoroughbred Financial Services LLC Reduces Position in The Kroger Co. (NYSE:KR)

Thoroughbred Financial Services LLC lowered its holdings in The Kroger Co. (NYSE:KR) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,098 shares of the company’s stock after selling 463 shares during the period. Thoroughbred Financial Services LLC’s holdings in Kroger were worth $800,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Kroger in the 4th quarter valued at about $598,390,000. Wellington Management Group LLP increased its holdings in Kroger by 11,570.7% in the third quarter. Wellington Management Group LLP now owns 2,729,788 shares of the company’s stock valued at $156,417,000 after buying an additional 2,706,398 shares during the last quarter. State Street Corp raised its stake in Kroger by 6.8% during the third quarter. State Street Corp now owns 33,057,629 shares of the company’s stock valued at $1,894,202,000 after buying an additional 2,110,681 shares in the last quarter. Raymond James Financial Inc. bought a new position in Kroger during the 4th quarter worth approximately $68,581,000. Finally, Franklin Resources Inc. grew its position in shares of Kroger by 48.0% in the 4th quarter. Franklin Resources Inc. now owns 3,359,918 shares of the company’s stock worth $205,459,000 after acquiring an additional 1,090,440 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Melius cut Kroger from a “hold” rating to a “sell” rating and set a $58.00 price objective on the stock. in a research note on Tuesday, April 1st. JPMorgan Chase & Co. raised their price target on shares of Kroger from $71.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Evercore ISI boosted their price objective on shares of Kroger from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. Morgan Stanley raised their target price on shares of Kroger from $62.00 to $65.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $73.00 target price on shares of Kroger in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.50.

Insider Activity

In related news, VP Carin L. Fike sold 5,541 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $70.79, for a total value of $392,247.39. Following the completion of the sale, the vice president now owns 3,480 shares in the company, valued at approximately $246,349.20. This represents a 61.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian W. Nichols sold 1,300 shares of Kroger stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $66.71, for a total transaction of $86,723.00. Following the transaction, the vice president now owns 12,090 shares in the company, valued at approximately $806,523.90. The trade was a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 228,785 shares of company stock worth $15,393,666. Insiders own 1.40% of the company’s stock.

Kroger Stock Performance

KR opened at $67.05 on Friday. The Kroger Co. has a 1-year low of $49.04 and a 1-year high of $71.93. The company has a market capitalization of $48.52 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 2.85 and a beta of 0.60. The business has a 50 day moving average price of $64.99 and a two-hundred day moving average price of $60.83. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.54 and a quick ratio of 1.07.

Kroger (NYSE:KR) last announced its earnings results on Thursday, March 6th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate 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. Research analysts predict that The Kroger Co. will post 4.44 EPS for the current fiscal year.

Kroger Dividend Announcement

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

Kroger declared that its Board of Directors has authorized a share repurchase plan on Wednesday, December 11th that allows the company to buyback $7.50 billion in outstanding shares. This buyback authorization allows the company to buy up to 16.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

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.