The Kroger Co. (NYSE:KR - Get Free Report) VP Carin L. Fike sold 5,541 shares of Kroger stock in a transaction dated Thursday, April 3rd. The stock was 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 of the company's stock, valued at approximately $246,349.20. This represents a 61.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Kroger Stock Down 5.2 %
Kroger stock opened at $67.05 on Friday. The Kroger Co. has a twelve month low of $49.04 and a twelve month high of $71.93. The business has a fifty day moving average of $64.99 and a two-hundred day moving average of $60.79. The firm has a market cap of $48.52 billion, a P/E ratio of 17.74, a P/E/G ratio of 2.85 and a beta of 0.60. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 1.74.
Kroger (NYSE:KR - Get Free Report) last posted its earnings results on Thursday, March 6th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.05. The company 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%. On average, analysts forecast that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.
Kroger declared that its Board of Directors has initiated a share repurchase program on Wednesday, December 11th that allows the company to buyback $7.50 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 16.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.
Kroger Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.28 dividend on an annualized basis and a yield of 1.91%. Kroger's payout ratio is 34.88%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the company. Evercore ISI boosted their target price on Kroger from $73.00 to $74.00 and gave the company an "outperform" rating in a research report on Tuesday, March 11th. Roth Mkm increased their target price on shares of Kroger from $52.00 to $56.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Wells Fargo & Company lifted 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. UBS Group raised their price objective on shares of Kroger from $63.00 to $66.00 and gave the stock a "neutral" rating in a research note on Thursday, December 12th. Finally, StockNews.com cut Kroger from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $66.50.
Read Our Latest Stock Analysis on Kroger
Institutional Trading of Kroger
Several hedge funds and other institutional investors have recently made changes to their positions in KR. Board of the Pension Protection Fund acquired a new position in Kroger during the 4th quarter valued at about $1,113,000. Nordea Investment Management AB grew its stake in shares of Kroger by 3.8% during the fourth quarter. Nordea Investment Management AB now owns 4,052,534 shares of the company's stock worth $249,717,000 after acquiring an additional 148,221 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of Kroger during the third quarter valued at about $566,000. Avanza Fonder AB acquired a new stake in Kroger in the 4th quarter worth approximately $4,210,000. Finally, JPMorgan Chase & Co. increased its stake in Kroger by 0.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,164,855 shares of the company's stock valued at $353,246,000 after purchasing an additional 37,222 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.
About Kroger
(
Get Free Report)
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.
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