Grove Bank & Trust Sells 4,827 Shares of The Kroger Co. $KR

Key Points

• Grove Bank & Trust has significantly reduced its stake in The Kroger Co. by 40.4%, owning 7,110 shares valued at approximately $510,000 after selling 4,827 shares.
• Kroger's latest quarterly earnings exceeded estimates, reporting $1.04 earnings per share against a consensus expectation of $1.00, along with revenue of $33.94 billion.
• The company has announced a quarterly dividend of $0.35 per share, with a dividend yield of 2.1%, payable on December 1st to shareholders on record by November 14th.

Grove Bank & Trust trimmed its position in The Kroger Co. (NYSE:KR - Free Report) by 40.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,110 shares of the company's stock after selling 4,827 shares during the period. Grove Bank & Trust's holdings in Kroger were worth $510,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in KR. Wellington Management Group LLP lifted its holdings in shares of Kroger by 85.3% during the 1st quarter. Wellington Management Group LLP now owns 6,397,771 shares of the company's stock worth $433,065,000 after acquiring an additional 2,945,848 shares during the last quarter. Nuveen LLC bought a new stake in Kroger during the first quarter worth about $178,385,000. Alyeska Investment Group L.P. lifted its holdings in shares of Kroger by 101.7% in the 1st quarter. Alyeska Investment Group L.P. now owns 4,084,584 shares of the company's stock worth $276,485,000 after acquiring an additional 2,059,574 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Kroger by 7,363.9% in the 1st quarter. GAMMA Investing LLC now owns 1,706,397 shares of the company's stock worth $115,506,000 after acquiring an additional 1,683,535 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of Kroger in the 1st quarter worth approximately $62,730,000. Institutional investors own 80.93% of the company's stock.

Insiders Place Their Bets

In related news, Director Clyde R. Moore sold 3,810 shares of Kroger stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $71.61, for a total value of $272,834.10. Following the completion of the sale, the director directly owned 85,850 shares in the company, valued at approximately $6,147,718.50. This trade represents a 4.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gabriel Arreaga sold 37,960 shares of Kroger stock in a transaction dated 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 sale, the executive vice president owned 75,218 shares of the company's stock, valued at $5,448,791.92. The trade was a 33.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,834 shares of company stock valued at $7,350,274. Corporate insiders own 0.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on KR shares. Morgan Stanley set a $76.00 price target on shares of Kroger and gave the stock an "equal weight" rating in a research note on Monday, June 23rd. Guggenheim reissued a "buy" rating and issued a $78.00 target price on shares of Kroger in a research note on Friday, September 12th. Deutsche Bank Aktiengesellschaft boosted their target price on Kroger from $57.00 to $67.00 and gave the company a "hold" rating in a research note on Monday, June 23rd. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $75.00 price objective (down previously from $82.00) on shares of Kroger in a research report on Wednesday, August 20th. Finally, Barclays started coverage on shares of Kroger in a report on Monday, July 21st. They set an "equal weight" rating and a $75.00 price target for the company. Nine research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $72.70.

Kroger Stock Down 1.6%

Shares of KR traded down $1.05 during trading hours on Monday, hitting $64.53. The company had a trading volume of 4,303,324 shares, compared to its average volume of 7,212,576. The stock has a market capitalization of $42.65 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 1.91 and a beta of 0.59. The firm has a fifty day moving average price of $69.99 and a 200-day moving average price of $69.03. The Kroger Co. has a 52-week low of $54.88 and a 52-week high of $74.90. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.54 and a current ratio of 0.95.

Kroger (NYSE:KR - Get Free Report) last released its quarterly earnings data on Thursday, September 11th. The company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The business had revenue of $33.94 billion during the quarter, compared to analyst estimates of $34.08 billion. Kroger had a net margin of 1.86% and a return on equity of 32.62%. Kroger's revenue was up .1% compared to the same quarter last year. During the same period last year, the business earned $0.93 EPS. Kroger has set its FY 2025 guidance at 4.700-4.800 EPS. On average, equities research analysts forecast that The Kroger Co. will post 4.44 EPS for the current fiscal year.

Kroger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.40 annualized dividend and a dividend yield of 2.2%. Kroger's dividend payout ratio (DPR) is 35.53%.

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.