Canopy Partners LLC Lowers Stock Position in The Kroger Co. (NYSE:KR)

Key Points

• Canopy Partners LLC decreased its holdings in The Kroger Co. by 18.8%, selling 19,414 shares, which now makes up 2.2% of their investment portfolio.
• Multiple analysts have upgraded Kroger's rating, with the consensus target price set at $70.16, reflecting a positive outlook for the stock.
• Kroger recently declared a quarterly dividend of $0.35 per share, which is an increase from the previous dividend of $0.32, indicating a commitment to returning value to shareholders.

Canopy Partners LLC trimmed its holdings in The Kroger Co. (NYSE:KR - Free Report) by 18.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 83,699 shares of the company's stock after selling 19,414 shares during the period. Kroger comprises about 2.2% of Canopy Partners LLC's investment portfolio, making the stock its 12th largest holding. Canopy Partners LLC's holdings in Kroger were worth $5,666,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KR. IFC Advisors LLC boosted its holdings in shares of Kroger by 1.7% during the 1st quarter. IFC Advisors LLC now owns 8,642 shares of the company's stock valued at $585,000 after acquiring an additional 142 shares in the last quarter. Brown Brothers Harriman & Co. raised its position in shares of Kroger by 0.9% in the 4th quarter. Brown Brothers Harriman & Co. now owns 18,045 shares of the company's stock worth $1,103,000 after acquiring an additional 154 shares in the last quarter. Rothschild Investment LLC grew its stake in shares of Kroger by 2.0% in the 1st quarter. Rothschild Investment LLC now owns 8,049 shares of the company's stock valued at $545,000 after buying an additional 155 shares during the period. Gratus Wealth Advisors LLC grew its stake in shares of Kroger by 1.6% in the 1st quarter. Gratus Wealth Advisors LLC now owns 11,182 shares of the company's stock valued at $757,000 after buying an additional 174 shares during the period. Finally, Sound Income Strategies LLC boosted its stake in Kroger by 46.7% during 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. 80.93% of the stock is owned by institutional investors and hedge funds.

Kroger Trading Up 1.4%

Shares of Kroger stock traded up $1.00 during trading on Friday, reaching $71.10. 4,673,952 shares of the stock were exchanged, compared to its average volume of 7,110,021. The company has a quick ratio of 0.53, a current ratio of 0.95 and a debt-to-equity ratio of 1.92. The stock's fifty day moving average is $69.36 and its 200 day moving average is $67.28. The firm has a market cap of $46.99 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 2.21 and a beta of 0.59. The Kroger Co. has a 1 year low of $50.69 and a 1 year high of $74.11.

Kroger (NYSE:KR - Get Free Report) last issued its quarterly earnings data on Friday, June 20th. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.45 by $0.04. Kroger had a net margin of 1.76% and a return on equity of 30.01%. The business had revenue of $45.12 billion during the quarter, compared to analyst estimates of $45.35 billion. During the same period last year, the business posted $1.43 earnings per share. Kroger's quarterly revenue was down .3% compared to the same quarter last year. As a group, equities research 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. Investors of record on Friday, August 15th will be given a dividend of $0.35 per share. 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. The ex-dividend date of this dividend is Friday, August 15th. Kroger's payout ratio is 38.15%.

Insider Activity at Kroger

In other Kroger news, EVP Timothy A. Massa sold 8,415 shares of Kroger stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $74.00, for a total value of $622,710.00. Following the completion of the sale, the executive vice president owned 118,761 shares of the company's stock, valued at approximately $8,788,314. The trade was a 6.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction, the vice president owned 49,360 shares in the company, valued at $3,642,274.40. This represents a 25.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 198,948 shares of company stock valued at $14,422,926 over the last ninety days. Corporate insiders own 0.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Kroger from $72.00 to $82.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Telsey Advisory Group restated an "outperform" rating and issued a $82.00 target price (up previously from $73.00) on shares of Kroger in a research note on Friday, June 20th. Melius Research upgraded Kroger from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 20th. UBS Group reaffirmed a "neutral" rating and issued a $74.00 price target (up previously from $66.00) on shares of Kroger in a report on Monday, June 23rd. Finally, Jefferies Financial Group set a $83.00 price target on shares of Kroger and gave the stock a "buy" rating in a report on Monday, June 23rd. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.16.

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.