FCG Investment Co Decreases Stake in The Kroger Co. (NYSE:KR)

FCG Investment Co decreased its holdings in The Kroger Co. (NYSE:KR) by 10.6% in the 1st quarter, HoldingsChannel reports. The fund owned 14,161 shares of the company’s stock after selling 1,687 shares during the quarter. FCG Investment Co’s holdings in Kroger were worth $809,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Creekmur Asset Management LLC acquired a new position in shares of Kroger during the 4th quarter worth $26,000. SouthState Corp boosted its holdings in Kroger by 334.3% during the fourth quarter. SouthState Corp now owns 595 shares of the company’s stock worth $27,000 after buying an additional 458 shares in the last quarter. VisionPoint Advisory Group LLC grew its position in Kroger by 370.1% during the third quarter. VisionPoint Advisory Group LLC now owns 630 shares of the company’s stock worth $28,000 after buying an additional 496 shares during the period. Scarborough Advisors LLC purchased a new position in Kroger in the fourth quarter valued at about $28,000. Finally, Hexagon Capital Partners LLC lifted its position in shares of Kroger by 101.6% during the 1st quarter. Hexagon Capital Partners LLC now owns 496 shares of the company’s stock valued at $28,000 after acquiring an additional 250 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KR. BMO Capital Markets raised Kroger from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $58.00 to $60.00 in a research note on Tuesday, June 18th. Evercore ISI cut their price target on Kroger from $61.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, June 20th. JPMorgan Chase & Co. decreased their price objective on shares of Kroger from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. BNP Paribas restated an “underperform” rating and set a $48.00 target price on shares of Kroger in a research report on Monday, April 8th. Finally, Guggenheim increased their price target on shares of Kroger from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.30.

Insider Activity at Kroger

In related news, CFO Todd A. Foley sold 6,616 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $55.69, for a total value of $368,445.04. Following the transaction, the chief financial officer now directly owns 46,958 shares of the company’s stock, valued at approximately $2,615,091.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Kenneth C. Kimball sold 30,251 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $55.98, for a total value of $1,693,450.98. Following the transaction, the senior vice president now owns 105,298 shares of the company’s stock, valued at approximately $5,894,582.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Todd A. Foley sold 6,616 shares of Kroger stock in a transaction on Friday, April 26th. The shares were sold at an average price of $55.69, for a total transaction of $368,445.04. Following the transaction, the chief financial officer now owns 46,958 shares in the company, valued at approximately $2,615,091.02. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,796 shares of company stock worth $3,118,767. 1.40% of the stock is owned by company insiders.

Kroger Trading Up 0.6 %

KR stock traded up $0.32 during midday trading on Thursday, hitting $50.75. The stock had a trading volume of 3,191,500 shares, compared to its average volume of 6,593,407. The Kroger Co. has a 12-month low of $42.10 and a 12-month high of $58.34. The firm has a market cap of $36.63 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 0.78 and a beta of 0.45. The company’s 50-day moving average price is $52.72 and its 200 day moving average price is $51.06. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.45.

Kroger (NYSE:KR) last announced its quarterly earnings data on Thursday, June 20th. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. Kroger had a return on equity of 29.89% and a net margin of 1.43%. The business had revenue of $45.27 billion during the quarter, compared to the consensus estimate of $44.86 billion. During the same quarter in the previous year, the business earned $1.51 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities research analysts predict that The Kroger Co. will post 4.45 earnings per share for the current fiscal year.

Kroger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Thursday, August 15th will be given a $1.28 dividend. The ex-dividend date is Thursday, August 15th. This is a boost from Kroger’s previous quarterly dividend of $0.29. This represents a $5.12 annualized dividend and a dividend yield of 10.09%. Kroger’s dividend payout ratio (DPR) is currently 39.59%.

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.