Croban Invests $1.36 Million in The Kroger Co. (NYSE:KR)

Croban acquired a new position in The Kroger Co. (NYSE:KR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,077 shares of the company's stock, valued at approximately $1,359,000. Kroger makes up approximately 1.3% of Croban's investment portfolio, making the stock its 24th largest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Millstone Evans Group LLC bought a new position in Kroger during the fourth quarter valued at $25,000. TCTC Holdings LLC bought a new position in Kroger during the fourth quarter valued at $27,000. Transce3nd LLC bought a new stake in shares of Kroger in the 4th quarter worth about $28,000. Garde Capital Inc. bought a new stake in shares of Kroger in the 1st quarter worth about $31,000. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Kroger in the 4th quarter worth about $32,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Kroger news, EVP Christine S. Wheatley sold 30,000 shares of the company's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $72.07, for a total value of $2,162,100.00. Following the completion of the transaction, the executive vice president owned 97,737 shares in the company, valued at approximately $7,043,905.59. This represents a 23.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mary Ellen Adcock sold 34,250 shares of the company's stock in a transaction dated 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 completion of the transaction, 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 90 days, insiders have sold 244,462 shares of company stock valued at $17,649,963. Insiders own 0.44% of the company's stock.

Kroger Trading Up 0.7%

NYSE KR opened at $70.74 on Friday. The company has a market capitalization of $46.75 billion, a PE ratio of 19.28, a P/E/G ratio of 2.24 and a beta of 0.59. The company has a fifty day moving average of $68.94 and a 200 day moving average of $66.19. The Kroger Co. has a 1 year low of $50.69 and a 1 year high of $74.11. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.95 and a quick ratio of 0.53.

Kroger (NYSE:KR - Get Free Report) last posted its earnings results on Friday, June 20th. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.04. The company had revenue of $45.12 billion during the quarter, compared to the consensus estimate of $45.35 billion. Kroger had a net margin of 1.76% and a return on equity of 30.01%. The firm's quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.43 earnings per share. Research analysts forecast 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 of this dividend is Friday, August 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.98%. This is an increase from Kroger's previous quarterly dividend of $0.32. Kroger's dividend payout ratio is 34.88%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. JPMorgan Chase & Co. raised 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. Evercore ISI reduced their price target on shares of Kroger from $76.00 to $75.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 17th. Melius Research raised shares of Kroger from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Guggenheim raised their price target on shares of Kroger from $73.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $82.00 target price (up previously from $73.00) on shares of Kroger in a research report on Friday, June 20th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.00.

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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