The Kroger Co. $KR Shares Sold by Aberdeen Group plc

Key Points

• Aberdeen Group plc reduced its holdings in The Kroger Co. by 50.8% in Q1 2023, now owning 407,755 shares worth approximately $27.7 million.
• The Kroger Co. reported Q1 earnings of $1.49 per share, beating estimates of $1.45, with quarterly revenue slightly down by 0.3% year-over-year.
• Kroger announced a quarterly dividend increase to $0.35 per share, reflecting a positive change from its previous dividend of $0.32.

Aberdeen Group plc cut its stake in The Kroger Co. (NYSE:KR - Free Report) by 50.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 407,755 shares of the company's stock after selling 420,648 shares during the quarter. Aberdeen Group plc owned approximately 0.06% of Kroger worth $27,711,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Brighton Jones LLC lifted its position in shares of Kroger by 27.3% during the 4th quarter. Brighton Jones LLC now owns 15,733 shares of the company's stock valued at $962,000 after buying an additional 3,373 shares in the last quarter. Townsquare Capital LLC raised its position in Kroger by 12.1% during the fourth quarter. Townsquare Capital LLC now owns 14,386 shares of the company's stock worth $880,000 after acquiring an additional 1,548 shares during the period. Mariner LLC raised its position in Kroger by 3.3% during the fourth quarter. Mariner LLC now owns 128,100 shares of the company's stock worth $7,833,000 after acquiring an additional 4,140 shares during the period. NewEdge Advisors LLC lifted its holdings in Kroger by 86.2% during the fourth quarter. NewEdge Advisors LLC now owns 69,655 shares of the company's stock valued at $4,259,000 after purchasing an additional 32,256 shares in the last quarter. Finally, Zacks Investment Management acquired a new stake in shares of Kroger in the fourth quarter valued at about $288,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Carin L. Fike sold 16,475 shares of the company's 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 of the company's stock, valued at $3,642,274.40. This represents a 25.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mary Ellen Adcock sold 34,250 shares of the company's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $71.16, for a total value of $2,437,230.00. Following the completion of the transaction, the executive vice president directly owned 184,473 shares in the company, valued at approximately $13,127,098.68. This trade represents a 15.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 198,948 shares of company stock worth $14,422,926 over the last quarter. Corporate insiders own 0.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on KR shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Kroger from $57.00 to $67.00 and gave the company a "hold" rating in a research note on Monday, June 23rd. Jefferies Financial Group set a $83.00 target price on Kroger and gave the company a "buy" rating in a research report on Monday, June 23rd. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $82.00 price target (up from $73.00) on shares of Kroger in a research note on Friday, June 20th. Morgan Stanley set a $76.00 price target on Kroger and gave the stock an "equal weight" rating in a research report on Monday, June 23rd. Finally, Barclays initiated coverage on Kroger in a research report on Monday, July 21st. They set an "equal weight" rating and a $75.00 price target for the company. Seven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $70.58.

Kroger Trading Up 1.4%

NYSE:KR traded up $1.0120 during trading hours on Wednesday, hitting $71.7320. The company had a trading volume of 5,309,957 shares, compared to its average volume of 7,096,598. 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 company has a 50-day moving average of $70.60 and a 200 day moving average of $68.44. The company has a market cap of $47.41 billion, a P/E ratio of 19.55, a P/E/G ratio of 2.22 and a beta of 0.59. The Kroger Co. has a 1 year low of $50.69 and a 1 year high of $74.90.

Kroger (NYSE:KR - Get Free Report) last issued its earnings results on Friday, June 20th. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.04. The company had revenue of $45.12 billion during the quarter, compared to analysts' expectations of $45.35 billion. Kroger had a return on equity of 34.71% and a net margin of 1.89%.The firm's quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the business earned $1.43 EPS. Kroger has set its FY 2025 guidance at 4.600-4.800 EPS. Sell-side analysts expect that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, August 15th. This is an increase from Kroger's previous quarterly dividend of $0.32. Kroger's dividend payout ratio (DPR) is currently 38.15%.

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.