Formidable Asset Management LLC Increases Position in The Kroger Co. (NYSE:KR)

Formidable Asset Management LLC lifted its stake in The Kroger Co. (NYSE:KR - Free Report) by 47.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,692 shares of the company's stock after buying an additional 3,771 shares during the quarter. Formidable Asset Management LLC's holdings in Kroger were worth $715,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Millstone Evans Group LLC bought a new position in shares of Kroger in the fourth quarter worth approximately $25,000. Whipplewood Advisors LLC bought a new position in shares of Kroger during the fourth quarter worth $26,000. TCTC Holdings LLC bought a new position in shares of Kroger during the fourth quarter worth $27,000. Transce3nd LLC bought a new position in shares of Kroger during the fourth quarter worth $28,000. Finally, Centricity Wealth Management LLC bought a new position in shares of Kroger during the fourth quarter worth $32,000. Institutional investors own 80.93% of the company's stock.

Insider Activity

In related news, CFO Todd A. Foley sold 28,105 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $66.62, for a total transaction of $1,872,355.10. Following the completion of the sale, the chief financial officer now owns 52,861 shares of the company's stock, valued at $3,521,599.82. This represents a 34.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Yael Cosset sold 115,149 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $68.08, for a total transaction of $7,839,343.92. Following the sale, the senior vice president now directly owns 139,338 shares of the company's stock, valued at $9,486,131.04. The trade was a 45.25% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 334,923 shares of company stock worth $22,867,124. 0.44% of the stock is currently owned by company insiders.

Kroger Trading Down 0.3%

KR stock traded down $0.18 during trading on Wednesday, hitting $67.65. The company had a trading volume of 5,942,163 shares, compared to its average volume of 5,671,490. The firm has a market capitalization of $44.71 billion, a P/E ratio of 17.90, a PEG ratio of 2.85 and a beta of 0.62. The Kroger Co. has a 52-week low of $49.04 and a 52-week high of $73.63. The company has a 50 day simple moving average of $68.98 and a 200-day simple moving average of $64.36. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 1.74.

Kroger (NYSE:KR - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.09 by $0.05. Kroger had a net margin of 1.85% and a return on equity of 27.73%. The company had revenue of $34.31 billion for the quarter, compared to the consensus estimate of $34.96 billion. As a group, research analysts forecast that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Kroger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.28 annualized dividend and a yield of 1.89%. Kroger's dividend payout ratio (DPR) is presently 34.88%.

Wall Street Analyst Weigh In

KR has been the subject of a number of research reports. The Goldman Sachs Group restated a "buy" rating and set a $70.00 target price on shares of Kroger in a research report on Tuesday, February 4th. Evercore ISI upped their price target on shares of Kroger from $73.00 to $74.00 and gave the company an "outperform" rating in a research note on Tuesday, March 11th. Melius Research raised shares of Kroger from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. upped their price target on shares of Kroger from $72.00 to $82.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Finally, Roth Capital set a $58.00 price target on shares of Kroger in a research note on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $68.06.

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.