Aviva PLC Trims Stock Position in The Kroger Co. (NYSE:KR)

Aviva PLC decreased its stake in The Kroger Co. (NYSE:KR) by 33.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 413,790 shares of the company’s stock after selling 203,587 shares during the quarter. Aviva PLC owned approximately 0.06% of Kroger worth $25,303,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Benjamin Edwards Inc. acquired a new stake in shares of Kroger during the 3rd quarter worth approximately $456,000. Hilltop Holdings Inc. acquired a new stake in Kroger during the third quarter valued at $222,000. HighTower Advisors LLC increased its holdings in Kroger by 4.5% in the third quarter. HighTower Advisors LLC now owns 217,409 shares of the company’s stock valued at $12,449,000 after buying an additional 9,430 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Kroger by 0.7% in the third quarter. Janus Henderson Group PLC now owns 88,320 shares of the company’s stock worth $5,056,000 after acquiring an additional 600 shares during the period. Finally, IHT Wealth Management LLC boosted its stake in shares of Kroger by 15.2% during the 3rd quarter. IHT Wealth Management LLC now owns 10,254 shares of the company’s stock worth $587,000 after acquiring an additional 1,350 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Kroger

In related news, SVP Kenneth C. Kimball sold 11,000 shares of the firm’s stock in a transaction that occurred on 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 $8,308,919.22. This trade represents a 7.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Carin L. Fike sold 5,541 shares of Kroger 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 transaction, the vice president now owns 3,480 shares in the company, valued at $246,349.20. This trade represents a 61.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 228,785 shares of company stock worth $15,393,666 in the last three months. 1.40% of the stock is owned by company insiders.

Kroger Stock Performance

NYSE KR opened at $67.05 on Monday. The Kroger Co. has a fifty-two week low of $49.04 and a fifty-two week high of $71.93. The firm has a market capitalization of $48.52 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 2.85 and a beta of 0.60. The stock’s fifty day moving average is $64.99 and its two-hundred day moving average is $60.88. 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 announced its quarterly earnings data on Thursday, March 6th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.05. The firm had revenue of $34.31 billion during the quarter, compared to analyst estimates of $34.96 billion. Kroger had a net margin of 1.85% and a return on equity of 27.73%. On average, research analysts anticipate that The Kroger Co. will post 4.44 earnings per share for the current year.

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

Kroger Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Evercore ISI upped their price target on Kroger from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. Roth Capital set a $58.00 target price on Kroger in a research report on Thursday, March 6th. Citigroup boosted their price target on shares of Kroger from $61.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, March 7th. JPMorgan Chase & Co. increased their price objective on shares of Kroger from $71.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Finally, Morgan Stanley boosted their target price on shares of Kroger from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Kroger currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

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.