The Kroger Co. (NYSE:KR) Shares Sold by Barnett & Company Inc.

Key Points

• Barnett & Company Inc. has reduced its holdings in The Kroger Co. by 25.2%, owning 36,233 shares worth approximately $2.45 million as of the latest SEC filing.
• The Kroger Co. reported $1.49 EPS for the quarter, surpassing analysts' expectations, despite a slight 0.3% year-over-year revenue decline to $45.12 billion.
• Kroger has declared a quarterly dividend increase to $0.35 per share, representing a 1.9% dividend yield and reflecting a payout ratio of 34.88%.

Barnett & Company Inc. lowered its stake in shares of The Kroger Co. (NYSE:KR - Free Report) by 25.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,233 shares of the company's stock after selling 12,200 shares during the quarter. Kroger comprises approximately 2.1% of Barnett & Company Inc.'s investment portfolio, making the stock its 14th largest holding. Barnett & Company Inc.'s holdings in Kroger were worth $2,453,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of KR. IFC Advisors LLC lifted its position in shares of Kroger by 1.7% during the first quarter. IFC Advisors LLC now owns 8,642 shares of the company's stock worth $585,000 after purchasing an additional 142 shares in the last quarter. Rothschild Investment LLC lifted its position in shares of Kroger by 2.0% during the first quarter. Rothschild Investment LLC now owns 8,049 shares of the company's stock worth $545,000 after purchasing an additional 155 shares in the last quarter. Gratus Wealth Advisors LLC lifted its position in shares of Kroger by 1.6% during the first quarter. Gratus Wealth Advisors LLC now owns 11,182 shares of the company's stock worth $757,000 after purchasing an additional 174 shares in the last quarter. Sound Income Strategies LLC lifted its position in shares of Kroger by 46.7% during the first quarter. Sound Income Strategies LLC now owns 550 shares of the company's stock worth $37,000 after purchasing an additional 175 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC lifted its position in shares of Kroger by 2.8% during the first quarter. Measured Wealth Private Client Group LLC now owns 7,187 shares of the company's stock worth $486,000 after purchasing an additional 198 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Activity at Kroger

In other Kroger news, Director Clyde R. Moore sold 3,810 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $71.61, for a total transaction of $272,834.10. Following the sale, the director directly owned 85,850 shares of the company's stock, valued at $6,147,718.50. This trade represents a 4.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Carin L. Fike sold 16,475 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $73.79, for a total transaction of $1,215,690.25. Following the sale, the vice president directly owned 49,360 shares in the company, valued at $3,642,274.40. This represents a 25.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 198,948 shares of company stock worth $14,422,926 over the last three months. Company insiders own 0.44% of the company's stock.

Kroger Price Performance

KR traded down $0.99 on Thursday, hitting $69.34. 3,218,060 shares of the company were exchanged, compared to its average volume of 7,109,952. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.53 and a current ratio of 0.95. The firm has a market capitalization of $45.82 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 2.35 and a beta of 0.59. The business's fifty day moving average is $70.27 and its 200 day moving average is $68.15. The Kroger Co. has a fifty-two week low of $50.69 and a fifty-two week high of $74.90.

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

Kroger Increases Dividend

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

Analysts Set New Price Targets

Several analysts have recently issued reports on KR shares. Guggenheim increased their price target on shares of Kroger from $73.00 to $78.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Wall Street Zen lowered Kroger from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Morgan Stanley set a $76.00 target price on Kroger and gave the stock an "equal weight" rating in a research report 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. Finally, Melius raised Kroger from a "sell" rating to a "hold" rating and set a $70.00 target price for the company 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 data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $70.53.

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.