Harvest Fund Management Co. Ltd Has $902,000 Stake in The Kroger Co. (NYSE:KR)

Key Points

• Harvest Fund Management Co. Ltd reduced its position in Kroger Co. by 66.3%, selling 26,223 shares and holding 13,327 shares valued at approximately $902,000.
• Institutional investors now collectively own 80.93% of Kroger's stock, indicating strong institutional interest in the company.
• Kroger recently announced an increase in its quarterly dividend from $0.32 to $0.35, reflecting a commitment to returning value to shareholders.

Harvest Fund Management Co. Ltd lowered its stake in The Kroger Co. (NYSE:KR - Free Report) by 66.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,327 shares of the company's stock after selling 26,223 shares during the period. Harvest Fund Management Co. Ltd's holdings in Kroger were worth $902,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. IFC Advisors LLC raised its stake in Kroger by 1.7% during the 1st quarter. IFC Advisors LLC now owns 8,642 shares of the company's stock valued at $585,000 after purchasing an additional 142 shares during the period. Rothschild Investment LLC raised its stake in Kroger by 2.0% during the 1st quarter. Rothschild Investment LLC now owns 8,049 shares of the company's stock valued at $545,000 after purchasing an additional 155 shares during the period. Gratus Wealth Advisors LLC raised its stake in Kroger by 1.6% during the 1st quarter. Gratus Wealth Advisors LLC now owns 11,182 shares of the company's stock valued at $757,000 after purchasing an additional 174 shares during the period. Sound Income Strategies LLC raised its stake in Kroger by 46.7% during the 1st quarter. Sound Income Strategies LLC now owns 550 shares of the company's stock valued at $37,000 after purchasing an additional 175 shares during the period. Finally, CIBC Private Wealth Group LLC raised its stake in Kroger by 0.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 45,969 shares of the company's stock valued at $2,708,000 after purchasing an additional 186 shares during the period. Institutional investors own 80.93% of the company's stock.

Kroger Stock Performance

KR stock traded up $1.32 during mid-day trading on Friday, reaching $71.42. 6,887,648 shares of the stock traded hands, compared to its average volume of 7,126,661. The company has a quick ratio of 0.53, a current ratio of 0.95 and a debt-to-equity ratio of 1.92. The Kroger Co. has a 52 week low of $50.69 and a 52 week high of $74.11. The business has a 50-day moving average of $69.36 and a two-hundred day moving average of $67.28. The firm has a market capitalization of $47.20 billion, a PE ratio of 19.46, a P/E/G ratio of 2.21 and a beta of 0.59.

Kroger (NYSE:KR - Get Free Report) last released its quarterly 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 analysts' expectations of $45.35 billion. Kroger had a net margin of 1.76% and a return on equity of 30.01%. The business's quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.43 earnings per share. As a group, equities analysts predict that The Kroger Co. will post 4.44 EPS for the current fiscal year.

Kroger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be given a dividend of $0.35 per share. This is an increase from Kroger's previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, August 15th. Kroger's dividend payout ratio (DPR) is currently 38.15%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their target price 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. Wall Street Zen raised shares of Kroger from a "buy" rating to a "strong-buy" rating in a research note on Friday, July 18th. Melius Research upgraded shares of Kroger from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 20th. Melius upgraded shares of 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. Finally, Morgan Stanley set a $76.00 price target on shares of Kroger and gave the company an "equal weight" rating in a report on Monday, June 23rd. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Kroger has an average rating of "Moderate Buy" and an average target price of $70.16.

Insider Buying and Selling at Kroger

In related news, VP Carin L. Fike sold 16,475 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $73.79, for a total value of $1,215,690.25. Following the completion of the transaction, the vice president owned 49,360 shares of the company's stock, valued at $3,642,274.40. This represents a 25.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the executive vice president directly owned 184,473 shares in the company, valued at $13,127,098.68. This represents a 15.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 198,948 shares of company stock valued at $14,422,926 in the last three months. Company insiders own 0.44% of the company's stock.

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.