Kenneth C. Kimball Sells 11,000 Shares of The Kroger Co. (NYSE:KR) Stock

The Kroger Co. (NYSE:KR) SVP Kenneth C. Kimball sold 11,000 shares of the business’s 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 transaction, the senior vice president now 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 legal filing with the SEC, which can be accessed through the SEC website.

Kroger Trading Down 1.5 %

Shares of KR opened at $64.39 on Wednesday. The business’s 50-day moving average price is $63.57 and its 200-day moving average price is $60.12. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 1.74. The Kroger Co. has a twelve month low of $49.04 and a twelve month high of $68.51. The stock has a market cap of $46.59 billion, a PE ratio of 17.03, a P/E/G ratio of 2.85 and a beta of 0.51.

Kroger (NYSE:KR) last announced its quarterly earnings results on Thursday, March 6th. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.09 by $0.05. The firm had revenue of $34.31 billion during the quarter, compared to the consensus estimate of $34.96 billion. Kroger had a net margin of 1.85% and a return on equity of 27.73%. On average, equities analysts forecast that The Kroger Co. will post 4.44 EPS for the current fiscal year.

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

Kroger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.28 dividend on an annualized basis and a yield of 1.99%. Kroger’s dividend payout ratio is currently 34.88%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on KR shares. Jefferies Financial Group upgraded Kroger from a “hold” rating to a “buy” rating and boosted their target price for the stock from $54.00 to $73.00 in a research note on Tuesday, December 3rd. Citigroup increased their price target on shares of Kroger from $61.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, March 7th. Guggenheim increased their target price on shares of Kroger from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $73.00 price target on shares of Kroger in a report on Monday, March 3rd. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $70.00 price objective on shares of Kroger in a report on Tuesday, February 4th. Seven 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.88.

Institutional Investors Weigh In On Kroger

Several hedge funds have recently bought and sold shares of the stock. Millstone Evans Group LLC purchased a new stake in shares of Kroger during the 4th quarter valued at $25,000. Whipplewood Advisors LLC bought a new position in Kroger in the fourth quarter valued at $26,000. TCTC Holdings LLC purchased a new stake in Kroger during the fourth quarter valued at about $27,000. Transce3nd LLC bought a new stake in Kroger during the fourth quarter worth about $28,000. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Kroger in the 4th quarter worth about $32,000. 80.93% of the stock is currently owned by institutional investors.

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.