11,705 Shares in The Kroger Co. (NYSE:KR) Acquired by WealthPlan Investment Management LLC

Key Points

• WealthPlan Investment Management LLC acquired 11,705 shares of The Kroger Co., valued at approximately $792,000, indicating increasing institutional interest in the company.
• The company announced an increase in its quarterly dividend to $0.35 per share, up from $0.32, reflecting a commitment to returning value to shareholders.
• Kroger's stock received positive updates from several analysts, with price targets raised, suggesting a favorable outlook for the company's performance in the market.

WealthPlan Investment Management LLC acquired a new stake in The Kroger Co. (NYSE:KR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,705 shares of the company's stock, valued at approximately $792,000.

A number of other institutional investors have also recently bought and sold shares of the business. Bessemer Group Inc. raised its holdings in Kroger by 1.7% during the 1st quarter. Bessemer Group Inc. now owns 12,545 shares of the company's stock worth $850,000 after buying an additional 213 shares during the period. Diversified Trust Co boosted its stake in Kroger by 3.7% in the 1st quarter. Diversified Trust Co now owns 6,429 shares of the company's stock worth $435,000 after purchasing an additional 229 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Kroger by 8.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 307,790 shares of the company's stock worth $20,834,000 after purchasing an additional 24,849 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Kroger by 4.0% in the 1st quarter. IFP Advisors Inc now owns 8,967 shares of the company's stock valued at $607,000 after purchasing an additional 348 shares during the period. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Kroger by 67.2% in the first quarter. Golden State Wealth Management LLC now owns 1,336 shares of the company's stock valued at $90,000 after purchasing an additional 537 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Guggenheim increased their price objective on Kroger from $73.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Melius raised shares of Kroger from a "sell" rating to a "hold" rating and set a $70.00 price target for the company in a research note on Tuesday, May 20th. UBS Group reiterated a "neutral" rating and issued a $74.00 price objective (up from $66.00) on shares of Kroger in a report on Monday, June 23rd. Jefferies Financial Group set a $83.00 target price on shares of Kroger and gave the stock a "buy" rating in a report on Monday, June 23rd. Finally, Melius Research raised shares of Kroger from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 20th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $70.16.

Insider Buying and Selling at Kroger

In other news, VP Carin L. Fike sold 16,475 shares of Kroger stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $73.79, for a total value of $1,215,690.25. Following the transaction, the vice president owned 49,360 shares in the company, valued at approximately $3,642,274.40. This trade represents a 25.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Clyde R. Moore sold 26,814 shares of the business's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $70.50, for a total value of $1,890,387.00. Following the transaction, the director directly owned 99,143 shares of the company's stock, valued at $6,989,581.50. This trade represents a 21.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 198,948 shares of company stock valued at $14,422,926. 0.44% of the stock is currently owned by insiders.

Kroger Trading Up 0.0%

Shares of KR stock opened at $73.74 on Friday. The stock has a 50 day simple moving average of $69.81 and a 200 day simple moving average of $67.75. The Kroger Co. has a 1 year low of $50.69 and a 1 year high of $74.25. The company has a current ratio of 0.95, a quick ratio of 0.53 and a debt-to-equity ratio of 1.92. The stock has a market cap of $48.74 billion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 2.35 and a beta of 0.59.

Kroger (NYSE:KR - Get Free Report) last released its earnings results on Friday, June 20th. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.04. The company had revenue of $45.12 billion for the quarter, compared to analyst estimates of $45.35 billion. Kroger had a return on equity of 34.71% and a net margin of 1.89%. Kroger's quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 EPS. On average, research analysts predict that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Kroger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be given a dividend of $0.35 per share. This is an increase from Kroger's previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, August 15th. Kroger's dividend payout ratio (DPR) is presently 34.88%.

Kroger Company 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.

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