First Citizens Bank & Trust Co. Trims Position in The Kroger Co. (NYSE:KR)

First Citizens Bank & Trust Co. trimmed its holdings in The Kroger Co. (NYSE:KR) by 27.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 10,408 shares of the company’s stock after selling 3,872 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Kroger were worth $705,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank acquired a new position in shares of Kroger during the fourth quarter worth about $598,390,000. Steadfast Capital Management LP acquired a new position in shares of Kroger during the fourth quarter worth about $277,989,000. Junto Capital Management LP acquired a new position in shares of Kroger during the fourth quarter worth about $264,207,000. Alyeska Investment Group L.P. acquired a new position in shares of Kroger during the fourth quarter worth about $123,829,000. Finally, FMR LLC increased its stake in shares of Kroger by 39.1% during the fourth quarter. FMR LLC now owns 7,054,824 shares of the company’s stock worth $431,402,000 after acquiring an additional 1,981,259 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Kroger Stock Down 0.2%

KR stock opened at $65.37 on Wednesday. The company’s 50 day simple moving average is $68.97 and its 200-day simple moving average is $64.91. The firm has a market capitalization of $43.20 billion, a PE ratio of 17.29, a P/E/G ratio of 2.85 and a beta of 0.58. The Kroger Co. has a 12 month low of $49.04 and a 12 month high of $73.63. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.54 and a quick ratio of 1.07.

Kroger Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders 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 dividend yield of 1.96%. Kroger’s dividend payout ratio is presently 34.88%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Melius upgraded shares of Kroger from a “sell” rating to a “hold” rating and set a $70.00 price target on the stock in a research note on Tuesday, May 20th. Telsey Advisory Group reiterated an “outperform” rating and set a $73.00 price target on shares of Kroger in a research note on Monday, March 3rd. Morgan Stanley upped their target price on shares of Kroger from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Evercore ISI upped their target price on shares of Kroger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 11th. Finally, Citigroup upped their target price on shares of Kroger from $61.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, March 7th. Eight investment 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.06.

Insider Activity

In related news, SVP Yael Cosset sold 17,685 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $66.19, for a total transaction of $1,170,570.15. Following the transaction, the senior vice president now owns 139,124 shares of the company’s stock, valued at approximately $9,208,617.56. This represents a 11.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Brian W. Nichols sold 1,300 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $66.71, for a total transaction of $86,723.00. Following the transaction, the vice president now directly owns 12,090 shares in the company, valued at $806,523.90. The trade was a 9.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,669 shares of company stock worth $13,155,425 over the last ninety days. 0.44% of the stock is currently 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.