Envestnet Asset Management Inc. Raises Stock Position in The Kroger Co. (NYSE:KR)

Envestnet Asset Management Inc. boosted its stake in shares of The Kroger Co. (NYSE:KR - Free Report) by 110.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 751,845 shares of the company's stock after acquiring an additional 395,098 shares during the period. Envestnet Asset Management Inc. owned 0.11% of Kroger worth $50,892,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Drake & Associates LLC grew its stake in Kroger by 25.9% during the first quarter. Drake & Associates LLC now owns 29,026 shares of the company's stock valued at $1,965,000 after acquiring an additional 5,974 shares in the last quarter. Capital & Planning LLC purchased a new position in Kroger during the first quarter valued at $204,000. Concurrent Investment Advisors LLC grew its stake in shares of Kroger by 13.9% in the 1st quarter. Concurrent Investment Advisors LLC now owns 11,720 shares of the company's stock worth $793,000 after buying an additional 1,433 shares in the last quarter. Wayfinding Financial LLC purchased a new position in shares of Kroger in the 1st quarter worth $99,000. Finally, von Borstel & Associates Inc. purchased a new position in shares of Kroger in the 1st quarter worth $54,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Kroger Trading Down 0.3%

KR traded down $0.23 on Friday, reaching $70.48. 4,192,063 shares of the company traded hands, compared to its average volume of 5,901,518. The Kroger Co. has a one year low of $50.69 and a one year high of $74.11. The firm has a fifty day simple moving average of $68.91 and a two-hundred day simple moving average of $66.28. The company has a market cap of $46.58 billion, a P/E ratio of 19.20, a price-to-earnings-growth ratio of 2.25 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 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.04. Kroger had a net margin of 1.76% and a return on equity of 30.01%. The company had revenue of $45.12 billion during the quarter, compared to analyst estimates of $45.35 billion. During the same quarter last year, the business posted $1.43 EPS. The firm's revenue for the quarter was down .3% on a year-over-year basis. As a group, equities research analysts expect that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be issued a $0.35 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.40 annualized dividend and a dividend yield of 1.99%. This is a positive change from Kroger's previous quarterly dividend of $0.32. Kroger's payout ratio is currently 38.15%.

Insiders Place Their Bets

In other news, EVP Mary Ellen Adcock sold 34,250 shares of the business's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $71.16, for a total value of $2,437,230.00. Following the completion of the sale, the executive vice president owned 184,473 shares in the company, valued at approximately $13,127,098.68. The trade was a 15.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Carin L. Fike sold 16,475 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $73.79, for a total transaction of $1,215,690.25. Following the completion of the sale, the vice president owned 49,360 shares of the company's stock, valued at approximately $3,642,274.40. This represents a 25.02% 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 worth $17,649,963. 0.44% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on KR shares. JPMorgan Chase & Co. lifted their price objective 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. Melius Research raised shares of Kroger from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Kroger from $57.00 to $67.00 and gave the stock a "hold" rating in a research note on Monday, June 23rd. UBS Group reissued a "neutral" rating and issued a $74.00 price objective (up from $66.00) on shares of Kroger in a research note on Monday, June 23rd. Finally, 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 report on Friday, June 20th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average 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.