The Kroger Co. (NYSE:KR) Stock Position Decreased by Independence Bank of Kentucky

Independence Bank of Kentucky lowered its holdings in The Kroger Co. (NYSE:KR) by 20.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,957 shares of the company’s stock after selling 1,300 shares during the period. Independence Bank of Kentucky’s holdings in Kroger were worth $336,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sovereign Financial Group Inc. bought a new stake in shares of Kroger in the 1st quarter worth approximately $245,000. Procyon Advisors LLC increased its position in Kroger by 144.1% in the first quarter. Procyon Advisors LLC now owns 14,052 shares of the company’s stock worth $951,000 after buying an additional 8,295 shares during the period. Adamsbrown Wealth Consultants LLC increased its position in Kroger by 125.1% in the first quarter. Adamsbrown Wealth Consultants LLC now owns 20,495 shares of the company’s stock worth $1,387,000 after buying an additional 11,391 shares during the period. Curat Global LLC bought a new stake in Kroger in the first quarter valued at $255,000. Finally, Safeguard Financial LLC acquired a new position in shares of Kroger during the first quarter valued at $223,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Kroger

In other news, VP Brian W. Nichols sold 1,300 shares of Kroger stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $66.71, for a total value of $86,723.00. Following the transaction, the vice president now directly owns 12,090 shares of the company’s stock, valued at $806,523.90. This trade represents a 9.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christine S. Wheatley sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $72.07, for a total transaction of $2,162,100.00. Following the sale, the executive vice president now owns 97,737 shares in the company, valued at $7,043,905.59. This represents a 23.49% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 306,818 shares of company stock valued at $20,994,769. Corporate insiders own 0.44% of the company’s stock.

Kroger Price Performance

NYSE:KR opened at $66.11 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 1.74. The business’s 50-day moving average price is $69.11 and its 200 day moving average price is $64.82. The Kroger Co. has a 52-week low of $49.04 and a 52-week high of $73.63. The firm has a market cap of $43.69 billion, a P/E ratio of 17.49, a PEG ratio of 2.85 and a beta of 0.58.

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, topping the consensus estimate of $1.09 by $0.05. Kroger had a net margin of 1.85% and a return on equity of 27.73%. The company had revenue of $34.31 billion for the quarter, compared to analysts’ expectations of $34.96 billion. As a group, sell-side analysts predict that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Kroger Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were given a $0.32 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.28 annualized dividend and a yield of 1.94%. Kroger’s dividend payout ratio (DPR) is 34.88%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Kroger from $65.00 to $71.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. Evercore ISI lifted their price target on Kroger from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Melius Research upgraded Kroger from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 20th. Telsey Advisory Group restated an “outperform” rating and issued a $73.00 target price on shares of Kroger in a research report on Monday, March 3rd. Finally, Melius raised Kroger from a “sell” rating to a “hold” rating and set a $70.00 target price on the stock in a research note on Tuesday, May 20th. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Kroger presently has an average rating of “Moderate Buy” and a consensus price target of $68.06.

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.