Bristlecone Advisors LLC Has $2.09 Million Stock Position in The Kroger Co. (NYSE:KR)

Key Points

• Bristlecone Advisors LLC increased its stake in The Kroger Co. by 168.8% during the first quarter, bringing its holdings to 30,929 shares valued at approximately $2.09 million.
• The Kroger Co. recently announced an increase in its quarterly dividend to $0.35 per share, up from the previous $0.32, representing a yield of 1.9%.
• Despite a slight decline in quarterly revenue, Kroger reported an EPS of $1.49, surpassing analysts' estimates of $1.45.

Bristlecone Advisors LLC grew its holdings in shares of The Kroger Co. (NYSE:KR - Free Report) by 168.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,929 shares of the company's stock after buying an additional 19,424 shares during the quarter. Bristlecone Advisors LLC's holdings in Kroger were worth $2,094,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bessemer Group Inc. grew its holdings in shares of Kroger by 1.7% during the first quarter. Bessemer Group Inc. now owns 12,545 shares of the company's stock valued at $850,000 after buying an additional 213 shares during the last quarter. Diversified Trust Co increased its stake in Kroger by 3.7% in the 1st quarter. Diversified Trust Co now owns 6,429 shares of the company's stock valued at $435,000 after buying an additional 229 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Kroger by 8.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 307,790 shares of the company's stock valued at $20,834,000 after buying an additional 24,849 shares during the last quarter. IFP Advisors Inc increased its stake in Kroger by 4.0% in the 1st quarter. IFP Advisors Inc now owns 8,967 shares of the company's stock valued at $607,000 after buying an additional 348 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its stake in Kroger by 67.2% in the 1st quarter. Golden State Wealth Management LLC now owns 1,336 shares of the company's stock valued at $90,000 after buying an additional 537 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Clyde R. Moore sold 26,814 shares of Kroger stock in a transaction on Friday, July 11th. The shares were sold at an average price of $70.50, for a total transaction of $1,890,387.00. Following the completion of the sale, the director directly owned 99,143 shares of the company's stock, valued at approximately $6,989,581.50. The trade was a 21.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 directly owned 49,360 shares of the company's stock, 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. Over the last three months, insiders sold 198,948 shares of company stock worth $14,422,926. Company insiders own 0.44% of the company's stock.

Kroger Stock Performance

Kroger stock opened at $73.74 on Friday. The Kroger Co. has a 1-year low of $50.69 and a 1-year high of $74.25. 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 capitalization of $48.74 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 2.35 and a beta of 0.59. The firm's 50 day simple moving average is $69.81 and its 200 day simple moving average is $67.75.

Kroger (NYSE:KR - Get Free Report) last released its quarterly earnings results on Friday, June 20th. The company reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.04. The firm 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%. The business's revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the business earned $1.43 EPS. As a group, analysts expect that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Kroger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be given a dividend of $0.35 per share. This is an increase from Kroger's previous quarterly dividend of $0.32. The ex-dividend date 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 presently 34.88%.

Analysts Set New Price Targets

Several research firms have commented on KR. Telsey Advisory Group reiterated an "outperform" rating and issued a $82.00 price objective (up previously from $73.00) on shares of Kroger in a research note on Friday, June 20th. Morgan Stanley set a $76.00 price objective on shares of Kroger and gave the company an "equal weight" rating in a research note on Monday, June 23rd. JPMorgan Chase & Co. increased their price objective on shares of Kroger from $72.00 to $82.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Barclays assumed coverage on shares of Kroger in a research report on Monday, July 21st. They issued an "equal weight" rating and a $75.00 price objective on the stock. Finally, UBS Group reaffirmed a "neutral" rating and issued a $74.00 price objective (up previously from $66.00) on shares of Kroger in a research report on Monday, June 23rd. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $70.16.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.