Banco Santander S.A. Sells 231,998 Shares of The Kroger Co. (NYSE:KR)

Key Points

• Banco Santander S.A. reduced its holdings in The Kroger Co. by 63.5%, selling 231,998 shares, leaving it with 133,464 shares valued at $9,034,000.
• The Kroger Co. recently increased its quarterly dividend to $0.35, resulting in an annual yield of 2.0%, reflecting positive growth compared to its previous dividend of $0.32.
• Recent analyst ratings indicate a mix of sentiments, with a consensus "Hold" rating and target price revisions ranging from $67.00 to $83.00, signaling cautious optimism about the stock's prospects.

Banco Santander S.A. lessened its position in shares of The Kroger Co. (NYSE:KR - Free Report) by 63.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 133,464 shares of the company's stock after selling 231,998 shares during the period. Banco Santander S.A.'s holdings in Kroger were worth $9,034,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in KR. Transce3nd LLC bought a new position in shares of Kroger in the fourth quarter worth about $28,000. Garde Capital Inc. bought a new position in Kroger in the 1st quarter valued at approximately $31,000. Aster Capital Management DIFC Ltd bought a new position in Kroger in the 4th quarter valued at approximately $34,000. Sound Income Strategies LLC lifted its stake in Kroger by 46.7% in the 1st quarter. Sound Income Strategies LLC now owns 550 shares of the company's stock valued at $37,000 after purchasing an additional 175 shares during the last quarter. Finally, Accredited Wealth Management LLC bought a new position in Kroger in the 4th quarter valued at approximately $49,000. Institutional investors own 80.93% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on KR shares. Melius Research upgraded Kroger from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. increased their target price on Kroger from $72.00 to $82.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Telsey Advisory Group reiterated an "outperform" rating and issued a $82.00 target price (up from $73.00) on shares of Kroger in a research report on Friday, June 20th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Kroger from $57.00 to $67.00 and gave the company a "hold" rating in a report on Monday, June 23rd. Finally, Jefferies Financial Group set a $83.00 price objective on shares of Kroger and gave the company a "buy" rating in a report on Monday, June 23rd. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $70.16.

Kroger Price Performance

Shares of NYSE KR opened at $71.42 on Friday. The Kroger Co. has a twelve month low of $50.69 and a twelve month high of $74.11. The firm has a fifty day simple moving average of $69.42 and a 200 day simple moving average of $67.42. The company has a market capitalization of $47.20 billion, a PE ratio of 19.46, a P/E/G ratio of 2.28 and a beta of 0.59. The company has a quick ratio of 0.53, a current ratio of 0.95 and a debt-to-equity ratio of 1.92.

Kroger (NYSE:KR - Get Free Report) last released its quarterly earnings data on Friday, June 20th. The company reported $1.49 earnings per share 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 analyst estimates of $45.35 billion. Kroger had a net margin of 1.89% and a return on equity of 34.71%. Kroger's revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.43 EPS. On average, sell-side analysts forecast that The Kroger Co. will post 4.44 EPS for the current year.

Kroger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Kroger's previous quarterly dividend of $0.32. Kroger's dividend payout ratio is presently 34.88%.

Insiders Place Their Bets

In other news, EVP Timothy A. Massa sold 8,415 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $74.00, for a total transaction of $622,710.00. Following the completion of the sale, the executive vice president owned 118,761 shares in the company, valued at $8,788,314. The trade was a 6.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Clyde R. Moore sold 3,810 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $71.61, for a total value of $272,834.10. Following the sale, the director owned 85,850 shares of the company's stock, valued at approximately $6,147,718.50. This represents a 4.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 198,948 shares of company stock worth $14,422,926 over the last three months. Insiders own 0.44% of the company's stock.

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.

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