Alberta Investment Management Corp Has $2.95 Million Stake in The Kroger Co. (NYSE:KR)

Key Points

• Alberta Investment Management Corp increased its stock holdings in The Kroger Co. by 66.7% during the first quarter, owning 43,500 shares worth approximately $2.95 million.
• Kroger's quarterly earnings were reported at $1.49 per share, exceeding analysts' estimates, although revenue saw a slight decline of 0.3% compared to the previous year.
• The company has announced an increase in its quarterly dividend to $0.35, up from $0.32, representing an annualized dividend of $1.40 with a yield of 2.0%.

Alberta Investment Management Corp grew its stake in The Kroger Co. (NYSE:KR - Free Report) by 66.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,500 shares of the company's stock after purchasing an additional 17,400 shares during the quarter. Alberta Investment Management Corp's holdings in Kroger were worth $2,945,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of KR. BCGM Wealth Management LLC raised its holdings in Kroger by 2.9% during the 1st quarter. BCGM Wealth Management LLC now owns 38,940 shares of the company's stock valued at $2,636,000 after acquiring an additional 1,085 shares during the period. Nicolet Advisory Services LLC bought a new stake in shares of Kroger during the 1st quarter valued at about $203,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Kroger by 2.1% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 51,774 shares of the company's stock worth $3,505,000 after buying an additional 1,068 shares during the period. Harbour Investments Inc. grew its position in Kroger by 3.4% during the 1st quarter. Harbour Investments Inc. now owns 6,490 shares of the company's stock valued at $439,000 after purchasing an additional 215 shares during the last quarter. Finally, Natixis Advisors LLC increased its holdings in shares of Kroger by 9.3% in the 1st quarter. Natixis Advisors LLC now owns 430,658 shares of the company's stock worth $29,152,000 after purchasing an additional 36,789 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Kroger Stock Performance

KR traded up $0.01 during midday trading on Thursday, reaching $73.74. The company's stock had a trading volume of 4,720,441 shares, compared to its average volume of 7,087,901. The Kroger Co. has a twelve month low of $50.69 and a twelve month high of $74.25. The stock has a market cap of $48.74 billion, a P/E ratio of 20.09, a PEG ratio of 2.29 and a beta of 0.59. The company has a fifty day simple moving average of $69.68 and a 200 day simple moving average of $67.64. The company has a current ratio of 0.95, a quick ratio of 0.53 and a debt-to-equity ratio of 1.92.

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

Kroger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be paid a $0.35 dividend. This is an increase from Kroger's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.9%. Kroger's dividend payout ratio (DPR) is currently 38.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on KR shares. Barclays began coverage on shares of Kroger in a research note on Monday, July 21st. They set an "equal weight" rating and a $75.00 target price on the stock. Wall Street Zen downgraded Kroger from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Melius raised Kroger from a "sell" rating to a "hold" rating and set a $70.00 price target on the stock in a research report on Tuesday, May 20th. Guggenheim upped their target price on Kroger from $73.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Finally, Melius Research upgraded shares of Kroger from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $70.16.

Insider Buying and Selling

In other news, EVP Mary Ellen Adcock sold 34,250 shares of Kroger stock in a transaction on Friday, June 27th. The shares were sold at an average price of $71.16, for a total transaction of $2,437,230.00. Following the transaction, the executive vice president directly owned 184,473 shares of the company's stock, valued at $13,127,098.68. This trade represents a 15.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Clyde R. Moore sold 26,814 shares of the firm'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 sale, the director directly owned 99,143 shares in the company, valued at $6,989,581.50. The trade was a 21.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 198,948 shares of company stock worth $14,422,926 over the last 90 days. 0.44% of the stock is currently owned by corporate insiders.

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.