The Kroger Co. (NYSE:KR) Shares Sold by Berger Financial Group Inc

Key Points

• Berger Financial Group Inc significantly decreased its position in The Kroger Co. by 96.6%, resulting in ownership of only 3,481 shares after selling over 100,000 during the first quarter.
• A number of institutional investors have recently adjusted their positions in Kroger, with Sierra Summit Advisors LLC increasing holdings by 3.9% and Covestor Ltd boosting theirs by 272.0% during the same period.
• Kroger announced an increase in its quarterly dividend to $0.35 per share, up from the previous $0.32, reflecting a positive change in the company's payouts.

Berger Financial Group Inc trimmed its holdings in shares of The Kroger Co. (NYSE:KR - Free Report) by 96.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,481 shares of the company's stock after selling 100,382 shares during the quarter. Berger Financial Group Inc's holdings in Kroger were worth $236,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in shares of Kroger by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,113,596 shares of the company's stock worth $863,060,000 after acquiring an additional 120,250 shares during the period. Northern Trust Corp boosted its holdings in Kroger by 13.3% during the fourth quarter. Northern Trust Corp now owns 7,829,401 shares of the company's stock valued at $478,768,000 after purchasing an additional 916,230 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Kroger by 15.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,363,964 shares of the company's stock valued at $389,156,000 after purchasing an additional 865,699 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Kroger by 0.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,067,209 shares of the company's stock valued at $342,999,000 after purchasing an additional 31,477 shares in the last quarter. Finally, Steadfast Capital Management LP acquired a new stake in Kroger during the fourth quarter valued at approximately $277,989,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Kroger Stock Performance

Shares of NYSE:KR traded up $0.55 during trading on Friday, reaching $69.43. 1,330,438 shares of the stock were exchanged, compared to its average volume of 7,087,105. 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 firm has a market cap of $45.88 billion, a PE ratio of 18.93, a PEG ratio of 2.24 and a beta of 0.59. The stock has a 50-day moving average price of $70.33 and a 200-day moving average price of $68.21. The Kroger Co. has a 12 month low of $50.69 and a 12 month high of $74.90.

Kroger (NYSE:KR - Get Free Report) last announced its quarterly earnings results 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. Kroger had a net margin of 1.89% and a return on equity of 34.71%. The business had revenue of $45.12 billion for the quarter, compared to analysts' expectations of $45.35 billion. During the same quarter last year, the firm earned $1.43 EPS. The firm's revenue for the quarter was down .3% compared to the same quarter last year. Research analysts expect that The Kroger Co. will post 4.44 EPS for the current fiscal year.

Kroger Increases Dividend

The business 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 $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 is presently 34.88%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Jefferies Financial Group set a $83.00 target price on shares of Kroger and gave the company a "buy" rating in a research report on Monday, June 23rd. UBS Group reiterated a "neutral" rating and set a $74.00 target price (up previously from $66.00) on shares of Kroger in a research report on Monday, June 23rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Kroger from $57.00 to $67.00 and gave the company a "hold" rating in a research report on Monday, June 23rd. JPMorgan Chase & Co. upped their target price on shares of Kroger from $72.00 to $82.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Finally, Evercore ISI boosted their price target on shares of Kroger from $80.00 to $82.00 and gave the company an "outperform" rating in a report on Tuesday. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $70.53.

Insiders Place Their Bets

In other news, Director Clyde R. Moore sold 3,810 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $71.61, for a total transaction of $272,834.10. Following the transaction, the director directly owned 85,850 shares in the company, valued at approximately $6,147,718.50. This trade represents a 4.25% decrease in their ownership of the stock. 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 Kroger stock in a transaction on 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 owned 49,360 shares of the company's stock, valued at $3,642,274.40. The trade was a 25.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 198,948 shares of company stock worth $14,422,926. 0.44% of the stock is owned by corporate insiders.

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.