Stuart Aitken Sells 132,627 Shares of The Kroger Co. (NYSE:KR) Stock

The Kroger Co. (NYSE:KR) SVP Stuart Aitken sold 132,627 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $63.18, for a total value of $8,379,373.86. Following the completion of the sale, the senior vice president now directly owns 217,523 shares of the company’s stock, valued at $13,743,103.14. This trade represents a 37.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Kroger Trading Down 1.4 %

NYSE KR opened at $61.18 on Wednesday. The business’s fifty day moving average is $58.50 and its 200-day moving average is $55.05. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.54 and a quick ratio of 1.07. The stock has a market capitalization of $44.26 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 0.96 and a beta of 0.48. The Kroger Co. has a one year low of $44.07 and a one year high of $63.59.

Kroger (NYSE:KR) last announced its quarterly earnings data on Thursday, December 5th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.97 by $0.01. Kroger had a net margin of 1.85% and a return on equity of 27.73%. The business had revenue of $33.63 billion for the quarter, compared to analyst estimates of $34.19 billion. During the same quarter in the previous year, the firm posted $0.95 earnings per share. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities research analysts predict that The Kroger Co. will post 4.44 EPS for the current year.

Kroger Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 15th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Friday, November 15th. Kroger’s dividend payout ratio is currently 33.86%.

Kroger declared that its Board of Directors has approved a share repurchase plan on Wednesday, December 11th that permits the company to buyback $7.50 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 16.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new position in Kroger in the 2nd quarter valued at approximately $28,000. Northwest Investment Counselors LLC bought a new position in shares of Kroger in the third quarter worth $34,000. Harbor Capital Advisors Inc. purchased a new position in shares of Kroger in the third quarter valued at $40,000. Newbridge Financial Services Group Inc. raised its stake in shares of Kroger by 218.8% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 714 shares of the company’s stock valued at $36,000 after purchasing an additional 490 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in Kroger during the 3rd quarter worth about $43,000. Institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KR. Morgan Stanley lifted their price target on shares of Kroger from $58.00 to $62.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Guggenheim boosted their target price on shares of Kroger from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Melius Research initiated coverage on shares of Kroger in a report on Monday, September 23rd. They issued a “hold” rating and a $55.00 target price on the stock. Wells Fargo & Company lifted their price target on Kroger from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Finally, Roth Mkm increased their price objective on Kroger from $52.00 to $56.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Kroger has a consensus rating of “Moderate Buy” and an average target price of $64.31.

About Kroger

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.