Callan Family Office LLC Sells 39,778 Shares of The Kroger Co. (NYSE:KR)

Key Points

• Callan Family Office LLC significantly reduced its stake in The Kroger Co. by 85.1%, selling 39,778 shares and now holding only 6,974 shares valued at approximately $472,000.
• Kroger announced an increase in its quarterly dividend to $0.35, up from $0.32, which represents an annualized yield of 2.0%.
• The company reported quarterly earnings of $1.49 per share, beating estimates, but revenue decreased 0.3% year-over-year, totaling $45.12 billion.

Callan Family Office LLC cut its stake in shares of The Kroger Co. (NYSE:KR - Free Report) by 85.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,974 shares of the company's stock after selling 39,778 shares during the period. Callan Family Office LLC's holdings in Kroger were worth $472,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of KR. IFC Advisors LLC increased its holdings in Kroger by 1.7% during the 1st quarter. IFC Advisors LLC now owns 8,642 shares of the company's stock worth $585,000 after acquiring an additional 142 shares during the period. Rothschild Investment LLC increased its holdings in shares of Kroger by 2.0% in 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 during the period. Gratus Wealth Advisors LLC raised its position in shares of Kroger by 1.6% in the first quarter. Gratus Wealth Advisors LLC now owns 11,182 shares of the company's stock worth $757,000 after buying an additional 174 shares in the last quarter. Sound Income Strategies LLC raised its position in shares of Kroger by 46.7% in the first quarter. Sound Income Strategies LLC now owns 550 shares of the company's stock worth $37,000 after buying an additional 175 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC boosted its stake in Kroger by 2.8% during the first quarter. Measured Wealth Private Client Group LLC now owns 7,187 shares of the company's stock valued at $486,000 after buying an additional 198 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Kroger Trading Down 4.3%

Shares of KR stock opened at $70.36 on Thursday. The business has a 50-day moving average of $70.27 and a 200 day moving average of $68.15. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.95 and a quick ratio of 0.53. The Kroger Co. has a 1-year low of $50.69 and a 1-year high of $74.90. The stock has a market capitalization of $46.50 billion, a PE ratio of 19.17, a P/E/G ratio of 2.35 and a beta of 0.59.

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 analysts' consensus estimates of $1.45 by $0.04. Kroger had a return on equity of 34.71% and a net margin of 1.89%. The firm had revenue of $45.12 billion during the quarter, compared to analyst estimates of $45.35 billion. During the same quarter in the prior year, the firm posted $1.43 earnings per share. The business's quarterly revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. UBS Group restated a "neutral" rating and issued a $74.00 target price (up from $66.00) on shares of Kroger in a research note on Monday, June 23rd. Morgan Stanley set a $76.00 price objective on Kroger and gave the stock an "equal weight" rating in a report on Monday, June 23rd. 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. 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of Kroger from $72.00 to $82.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Ten investment 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.com, the company has an average rating of "Hold" and a consensus target price of $70.53.

Insider Transactions at Kroger

In related news, VP Carin L. Fike sold 16,475 shares of the business'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 transaction, the vice president owned 49,360 shares in the company, valued at $3,642,274.40. The trade was a 25.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mary Ellen Adcock sold 34,250 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $71.16, for a total value of $2,437,230.00. Following the completion of the sale, the executive vice president owned 184,473 shares of the company's stock, valued at approximately $13,127,098.68. This trade represents a 15.66% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 198,948 shares of company stock valued at $14,422,926. Company insiders own 0.44% of the company's stock.

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.