Asset Dedication LLC Buys 1,213 Shares of The Kroger Co. (NYSE:KR)

Asset Dedication LLC lifted its stake in shares of The Kroger Co. (NYSE:KR) by 206.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,801 shares of the company’s stock after acquiring an additional 1,213 shares during the period. Asset Dedication LLC’s holdings in Kroger were worth $110,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in Kroger during the 3rd quarter worth about $34,000. Adirondack Trust Co. boosted its position in shares of Kroger by 1,628.1% during the fourth quarter. Adirondack Trust Co. now owns 553 shares of the company’s stock worth $34,000 after buying an additional 521 shares during the period. Newbridge Financial Services Group Inc. grew its holdings in shares of Kroger by 218.8% during the second quarter. Newbridge Financial Services Group Inc. now owns 714 shares of the company’s stock worth $36,000 after buying an additional 490 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Kroger in the 3rd quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP bought a new stake in Kroger in the 3rd quarter valued at approximately $43,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on KR shares. Wells Fargo & Company raised their price target on shares of Kroger from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Guggenheim initiated coverage on shares of Kroger in a research note on Thursday, December 19th. They issued a “buy” rating and a $68.00 price target on the stock. Jefferies Financial Group upgraded Kroger from a “hold” rating to a “buy” rating and raised their price objective for the company from $54.00 to $73.00 in a report on Tuesday, December 3rd. Morgan Stanley upped their target price on Kroger from $62.00 to $65.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. raised their price target on Kroger from $69.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $65.80.

Kroger Stock Performance

NYSE KR opened at $61.03 on Friday. The Kroger Co. has a 52-week low of $44.48 and a 52-week high of $63.59. The stock has a market cap of $44.16 billion, a PE ratio of 16.14, a P/E/G ratio of 2.76 and a beta of 0.48. The firm has a 50-day moving average of $60.33 and a 200-day moving average of $56.99. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.07 and a current ratio of 1.54.

Kroger (NYSE:KR) last issued its quarterly earnings data on Thursday, December 5th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The company had revenue of $33.63 billion during the quarter, compared to analysts’ expectations of $34.19 billion. Kroger had a return on equity of 27.73% and a net margin of 1.85%. The business’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.95 earnings per share. On average, sell-side analysts anticipate that The Kroger Co. will post 4.44 EPS for the current year.

Kroger declared that its Board of Directors has authorized a stock buyback plan on Wednesday, December 11th that authorizes the company to repurchase $7.50 billion in shares. This repurchase authorization authorizes the company to repurchase up to 16.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Kroger

In related news, CFO Todd A. Foley sold 16,932 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $61.44, for a total value of $1,040,302.08. Following the transaction, the chief financial officer now directly owns 53,782 shares in the company, valued at approximately $3,304,366.08. This represents a 23.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Stuart Aitken sold 132,627 shares of Kroger stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $63.18, for a total transaction of $8,379,373.86. Following the completion of the sale, the senior vice president now owns 217,523 shares of the company’s stock, valued at $13,743,103.14. This trade represents a 37.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 195,448 shares of company stock valued at $12,143,923 in the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

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.