The Kroger Co. (NYSE:KR) Shares Bought by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services LLC increased its stake in The Kroger Co. by 2.2%, acquiring an additional 6,326 shares, bringing its total holdings to 297,360 shares valued at $20,128,000.
• Several analysts have adjusted their price targets for Kroger, with Guggenheim raising it from $73.00 to $78.00 and Telsey Advisory Group increasing it from $73.00 to $82.00 while maintaining an "outperform" rating.
• Kroger recently declared a quarterly dividend of $0.35 per share, up from the previous $0.32, reflecting an annualized dividend yield of 1.9% with a payout ratio currently at 34.88%.

Commonwealth Equity Services LLC increased its stake in shares of The Kroger Co. (NYSE:KR - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 297,360 shares of the company's stock after purchasing an additional 6,326 shares during the quarter. Commonwealth Equity Services LLC's holdings in Kroger were worth $20,128,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Transce3nd LLC acquired a new stake in shares of Kroger during the fourth quarter worth $28,000. Garde Capital Inc. purchased a new position in Kroger in the first quarter worth $31,000. Aster Capital Management DIFC Ltd purchased a new position in Kroger in the fourth quarter worth $34,000. Sound Income Strategies LLC raised its position in 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 acquiring an additional 175 shares in the last quarter. Finally, Accredited Wealth Management LLC purchased a new position in Kroger in the fourth quarter worth $49,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Mary Ellen Adcock sold 34,250 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $71.16, for a total transaction of $2,437,230.00. Following the transaction, the executive vice president directly owned 184,473 shares of the company's stock, valued at approximately $13,127,098.68. The trade was a 15.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Carin L. Fike sold 16,475 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $73.79, for a total value of $1,215,690.25. Following the transaction, the vice president directly owned 49,360 shares in the company, valued at $3,642,274.40. This trade represents a 25.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 198,948 shares of company stock worth $14,422,926 in the last ninety days. 0.44% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Kroger from $57.00 to $67.00 and gave the stock a "hold" rating in a research report on Monday, June 23rd. Jefferies Financial Group set a $83.00 price objective on Kroger and gave the stock a "buy" rating in a research report on Monday, June 23rd. Wall Street Zen cut Kroger from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Guggenheim increased their price objective on Kroger from $73.00 to $78.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Finally, Melius upgraded Kroger from a "sell" rating to a "hold" rating and set a $70.00 price objective for the company in a research report on Tuesday, May 20th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $70.16.

Kroger Trading Up 0.0%

Shares of NYSE KR traded up $0.01 during midday trading on Thursday, hitting $73.74. The stock had a trading volume of 4,727,467 shares, compared to its average volume of 6,133,667. The company has a market capitalization of $48.74 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 2.35 and a beta of 0.59. The Kroger Co. has a 1-year low of $50.69 and a 1-year high of $74.25. 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 company has a fifty day moving average price of $69.81 and a 200 day moving average price of $67.75.

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 the consensus estimate of $1.45 by $0.04. The business had revenue of $45.12 billion for the quarter, compared to analyst estimates of $45.35 billion. Kroger had a return on equity of 34.71% and a net margin of 1.89%. The company's revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.43 EPS. On average, analysts predict that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger Increases Dividend

The business 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 is a boost from Kroger's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.40 annualized dividend and a yield of 1.9%. Kroger's dividend payout ratio is presently 34.88%.

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.