Connor Clark & Lunn Investment Management Ltd. Has $694,000 Stake in The Kroger Co. $KR

Key Points

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Connor Clark & Lunn Investment Management Ltd. decreased its stake in The Kroger Co. (NYSE:KR - Free Report) by 93.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,258 shares of the company's stock after selling 141,471 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Kroger were worth $694,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of KR. Steadfast Capital Management LP acquired a new position in Kroger in the fourth quarter worth $277,989,000. Junto Capital Management LP acquired a new position in Kroger in the fourth quarter worth $264,207,000. Alyeska Investment Group L.P. acquired a new position in Kroger in the fourth quarter worth $123,829,000. GAMMA Investing LLC boosted its stake in Kroger by 7,363.9% in the first quarter. GAMMA Investing LLC now owns 1,706,397 shares of the company's stock worth $115,506,000 after purchasing an additional 1,683,535 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its position in shares of Kroger by 1,045.0% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 1,562,600 shares of the company's stock worth $95,553,000 after acquiring an additional 1,426,131 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Kroger Stock Up 0.2%

Shares of Kroger stock opened at $69.85 on Tuesday. 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 company has a market capitalization of $46.16 billion, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 2.22 and a beta of 0.59. The business has a 50-day moving average of $70.49 and a two-hundred day moving average of $68.43. The Kroger Co. has a 1 year low of $50.69 and a 1 year high of $74.90.

Kroger (NYSE:KR - Get Free Report) last posted its quarterly earnings data on Friday, June 20th. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.04. The company had revenue of $45.12 billion during the quarter, compared to analysts' expectations of $45.35 billion. Kroger had a return on equity of 34.71% and a net margin of 1.89%. Kroger's revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.43 earnings per share. As a group, equities analysts predict that The Kroger Co. will post 4.44 EPS for the current year.

Kroger Increases Dividend

The company also recently disclosed 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. This represents a $1.40 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, August 15th. Kroger's payout ratio is currently 38.15%.

Wall Street Analysts Forecast Growth

KR has been the topic of several research reports. Telsey Advisory Group reaffirmed an "outperform" rating and set a $82.00 price target (up previously from $73.00) on shares of Kroger in a research note on Friday, June 20th. UBS Group reaffirmed a "neutral" rating and set a $74.00 price target (up previously from $66.00) on shares of Kroger in a research note on Monday, June 23rd. Wall Street Zen downgraded Kroger from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Barclays started coverage on Kroger in a report on Monday, July 21st. They issued an "equal weight" rating and a $75.00 price objective for the company. Finally, Guggenheim upped their price objective on Kroger from $73.00 to $78.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $70.53.

Insider Activity at Kroger

In other news, EVP Gabriel Arreaga sold 37,960 shares of the company's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $72.44, for a total transaction of $2,749,822.40. Following the completion of the transaction, the executive vice president directly owned 75,218 shares of the company's stock, valued at $5,448,791.92. This represents a 33.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Carin L. Fike sold 16,475 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were 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 of the company's stock, 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 198,948 shares of company stock valued at $14,422,926 over the last ninety days. 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.

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