M&T Bank Corp Sells 5,595 Shares of The Kroger Co. (NYSE:KR)

M&T Bank Corp trimmed its holdings in shares of The Kroger Co. (NYSE:KR) by 7.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,175 shares of the company’s stock after selling 5,595 shares during the quarter. M&T Bank Corp’s holdings in Kroger were worth $3,025,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. OFI Invest Asset Management purchased a new position in shares of Kroger during the 3rd quarter worth about $25,000. SouthState Corp boosted its holdings in Kroger by 334.3% during the 4th quarter. SouthState Corp now owns 595 shares of the company’s stock valued at $27,000 after acquiring an additional 458 shares during the period. VisionPoint Advisory Group LLC grew its position in Kroger by 370.1% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 630 shares of the company’s stock valued at $28,000 after acquiring an additional 496 shares during the last quarter. Hazlett Burt & Watson Inc. increased its stake in Kroger by 430.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 637 shares of the company’s stock worth $29,000 after purchasing an additional 517 shares during the period. Finally, ORG Partners LLC boosted its stake in shares of Kroger by 613.0% during the fourth quarter. ORG Partners LLC now owns 820 shares of the company’s stock valued at $38,000 after purchasing an additional 705 shares during the period. Institutional investors own 80.93% of the company’s stock.

Kroger Price Performance

Shares of NYSE KR opened at $55.31 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.36 and a current ratio of 0.81. The firm has a market cap of $39.91 billion, a PE ratio of 18.68, a PEG ratio of 2.56 and a beta of 0.49. The Kroger Co. has a one year low of $42.10 and a one year high of $58.34. The firm has a fifty day moving average of $55.26 and a 200 day moving average of $48.83.

Kroger (NYSE:KR) last released its quarterly earnings results on Thursday, March 7th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.21. Kroger had a net margin of 1.44% and a return on equity of 31.44%. The firm had revenue of $37.06 billion during the quarter, compared to the consensus estimate of $37.07 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, research analysts predict that The Kroger Co. will post 4.43 EPS for the current fiscal year.

Kroger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be issued a $0.29 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $1.16 dividend on an annualized basis and a yield of 2.10%. Kroger’s payout ratio is currently 39.19%.

Analysts Set New Price Targets

Several research analysts recently commented on KR shares. Evercore ISI reduced their price target on shares of Kroger from $63.00 to $62.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 16th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $62.00 price target on shares of Kroger in a research note on Tuesday, April 23rd. Guggenheim increased their price objective on Kroger from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. BNP Paribas reaffirmed an “underperform” rating and set a $48.00 target price on shares of Kroger in a research report on Monday, April 8th. Finally, Wells Fargo & Company upgraded Kroger from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $58.00 to $65.00 in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $55.17.

Insiders Place Their Bets

In other Kroger news, VP Carin L. Fike sold 3,929 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $57.03, for a total value of $224,070.87. Following the completion of the sale, the vice president now owns 3,768 shares in the company, valued at approximately $214,889.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Valerie L. Jabbar sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $55.52, for a total transaction of $832,800.00. Following the completion of the sale, the senior vice president now directly owns 77,696 shares of the company’s stock, valued at approximately $4,313,681.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Carin L. Fike sold 3,929 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $57.03, for a total transaction of $224,070.87. Following the completion of the transaction, the vice president now directly owns 3,768 shares in the company, valued at approximately $214,889.04. The disclosure for this sale can be found here. Insiders have sold a total of 55,796 shares of company stock valued at $3,118,767 in the last 90 days. 1.38% of the stock is owned by 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.