Pitcairn Co. Has $5.30 Million Stock Position in The Kroger Co. (NYSE:KR)

Pitcairn Co. cut its position in The Kroger Co. (NYSE:KR) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,591 shares of the company’s stock after selling 2,182 shares during the quarter. Pitcairn Co.’s holdings in Kroger were worth $5,295,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Brown Brothers Harriman & Co. lifted its holdings in shares of Kroger by 0.9% during the fourth quarter. Brown Brothers Harriman & Co. now owns 18,045 shares of the company’s stock worth $1,103,000 after buying an additional 154 shares during the last quarter. Checchi Capital Advisers LLC increased its position in Kroger by 2.4% during the fourth quarter. Checchi Capital Advisers LLC now owns 6,704 shares of the company’s stock worth $410,000 after acquiring an additional 159 shares during the period. HBK Sorce Advisory LLC raised its stake in Kroger by 2.2% during the 4th quarter. HBK Sorce Advisory LLC now owns 7,834 shares of the company’s stock valued at $479,000 after purchasing an additional 166 shares during the last quarter. Keybank National Association OH boosted its holdings in Kroger by 0.7% in the 4th quarter. Keybank National Association OH now owns 23,410 shares of the company’s stock valued at $1,432,000 after purchasing an additional 167 shares during the period. Finally, Valmark Advisers Inc. grew its position in Kroger by 4.3% in the 4th quarter. Valmark Advisers Inc. now owns 4,260 shares of the company’s stock worth $260,000 after purchasing an additional 174 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Kroger Price Performance

Shares of KR stock opened at $67.30 on Thursday. The Kroger Co. has a 52 week low of $49.04 and a 52 week high of $68.68. The stock has a market capitalization of $48.70 billion, a PE ratio of 17.80, a PEG ratio of 2.85 and a beta of 0.51. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.07 and a current ratio of 1.54. The stock’s fifty day moving average is $64.58 and its 200-day moving average is $60.65.

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

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

Kroger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, May 15th. Kroger’s dividend payout ratio (DPR) is currently 34.88%.

Insider Buying and Selling at Kroger

In related news, CFO Todd A. Foley sold 28,105 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $66.62, for a total value of $1,872,355.10. Following the completion of the sale, the chief financial officer now owns 52,861 shares in the company, valued at $3,521,599.82. This represents a 34.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Yael Cosset sold 115,149 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $68.08, for a total value of $7,839,343.92. Following the sale, the senior vice president now directly owns 139,338 shares in the company, valued at $9,486,131.04. The trade was a 45.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 223,244 shares of company stock valued at $15,001,418. 1.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $73.00 price objective on shares of Kroger in a research report on Monday, March 3rd. JPMorgan Chase & Co. raised their price objective on Kroger from $71.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. The Goldman Sachs Group restated a “buy” rating and set a $70.00 price objective on shares of Kroger in a research report on Tuesday, February 4th. Roth Capital set a $58.00 target price on Kroger in a research report on Thursday, March 6th. Finally, Melius lowered shares of Kroger from a “hold” rating to a “sell” rating and set a $58.00 price target on the stock. in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.39.

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.