Corebridge Financial Inc. Sells 4,645 Shares of The Kroger Co. $KR

Key Points

• Corebridge Financial Inc. reduced its ownership in The Kroger Co. by 2.9%, now holding 152,944 shares valued at approximately $10.35 million after selling 4,645 shares in the first quarter.
• Kroger's quarterly dividend was recently increased to $0.35 per share, reflecting a boost from the previous $0.32, resulting in an annualized dividend of $1.40 and a yield of 2.1%.
• Analysts have set varying price targets for Kroger, with Morgan Stanley targeting $76.00, while Telsey Advisory Group increased their target to $82.00, indicating mixed sentiment around the stock's future performance.

Corebridge Financial Inc. lessened its holdings in shares of The Kroger Co. (NYSE:KR - Free Report) by 2.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 152,944 shares of the company's stock after selling 4,645 shares during the quarter. Corebridge Financial Inc.'s holdings in Kroger were worth $10,353,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of KR. Accent Capital Management LLC bought a new stake in shares of Kroger in the 1st quarter worth $25,000. Garde Capital Inc. bought a new stake in shares of Kroger in the 1st quarter worth $31,000. Capital Analysts LLC acquired a new stake in shares of Kroger during the first quarter worth $36,000. Sound Income Strategies LLC raised its position in shares of Kroger by 46.7% during the first quarter. Sound Income Strategies LLC now owns 550 shares of the company's stock worth $37,000 after purchasing an additional 175 shares during the period. Finally, GKV Capital Management Co. Inc. acquired a new stake in shares of Kroger during the first quarter worth $38,000. Institutional investors own 80.93% of the company's stock.

Analysts Set New Price Targets

KR has been the topic of a number of research analyst reports. Melius upgraded Kroger from a "sell" rating to a "hold" rating and set a $70.00 price target on the stock in a report on Tuesday, May 20th. UBS Group reiterated 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. Morgan Stanley set a $76.00 price target on Kroger and gave the stock an "equal weight" rating in a research note on Monday, June 23rd. Evercore ISI increased their target price on Kroger from $80.00 to $82.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. Finally, Guggenheim upped their price target on Kroger from $73.00 to $78.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Seven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, Kroger currently has an average rating of "Hold" and a consensus target price of $70.58.

Insiders Place Their Bets

In other news, EVP Yael Cosset sold 71,224 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $73.49, for a total value of $5,234,251.76. Following the transaction, the executive vice president directly owned 139,124 shares in the company, valued at $10,224,222.76. This trade represents a 33.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gabriel Arreaga sold 37,960 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $72.44, for a total value of $2,749,822.40. Following the completion of the transaction, the executive vice president owned 75,218 shares in the company, valued at $5,448,791.92. This represents a 33.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 198,948 shares of company stock worth $14,422,926 over the last three months. Insiders own 0.44% of the company's stock.

Kroger Price Performance

KR stock traded up $0.37 during midday trading on Friday, reaching $67.83. 5,420,800 shares of the company's stock traded hands, compared to its average volume of 6,686,693. The company has a 50-day simple moving average of $71.10 and a two-hundred day simple moving average of $68.70. The Kroger Co. has a 1-year low of $50.69 and a 1-year high of $74.90. The company has a market cap of $44.83 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 2.16 and a beta of 0.59. The company has a quick ratio of 0.53, a current ratio of 0.95 and a debt-to-equity ratio of 1.92.

Kroger (NYSE:KR - Get Free Report) last announced its quarterly earnings data 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 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 business's quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the company earned $1.43 EPS. Kroger has set its FY 2025 guidance at 4.600-4.800 EPS. On average, analysts anticipate 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. Stockholders of record on Friday, August 15th will be given a $0.35 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.40 annualized dividend and a dividend yield of 2.1%. This is an increase from Kroger's previous quarterly dividend of $0.32. Kroger's dividend payout ratio is 38.15%.

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.