iA Global Asset Management Inc. Sells 6,534 Shares of The Kroger Co. (NYSE:KR)

iA Global Asset Management Inc. lowered its stake in shares of The Kroger Co. (NYSE:KR - Free Report) by 15.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 36,836 shares of the company's stock after selling 6,534 shares during the period. iA Global Asset Management Inc.'s holdings in Kroger were worth $2,493,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in KR. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Kroger by 54.0% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,389 shares of the company's stock valued at $94,000 after purchasing an additional 487 shares during the last quarter. Atria Wealth Solutions Inc. lifted its holdings in Kroger by 303.0% in the first quarter. Atria Wealth Solutions Inc. now owns 75,327 shares of the company's stock valued at $5,099,000 after buying an additional 56,636 shares during the period. Cary Street Partners Financial LLC boosted its stake in Kroger by 12.9% in the first quarter. Cary Street Partners Financial LLC now owns 3,768 shares of the company's stock valued at $255,000 after acquiring an additional 431 shares during the last quarter. ROI Financial Advisors LLC grew its holdings in Kroger by 16.7% during the 1st quarter. ROI Financial Advisors LLC now owns 7,797 shares of the company's stock worth $528,000 after acquiring an additional 1,116 shares during the period. Finally, Accent Capital Management LLC bought a new stake in shares of Kroger during the 1st quarter valued at $25,000. Institutional investors own 80.93% of the company's stock.

Insiders Place Their Bets

In other news, EVP Gabriel Arreaga sold 37,960 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $72.44, for a total transaction of $2,749,822.40. Following the sale, the executive vice president owned 75,218 shares in the company, valued at approximately $5,448,791.92. This trade represents a 33.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Yael Cosset sold 71,224 shares of the stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $73.49, for a total value of $5,234,251.76. Following the completion of the transaction, the executive vice president directly owned 139,124 shares in the company, valued at approximately $10,224,222.76. This represents a 33.86% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,948 shares of company stock worth $14,422,926. 0.44% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Morgan Stanley set a $76.00 price objective on shares of Kroger and gave the company an "equal weight" rating in a report on Monday, June 23rd. Jefferies Financial Group set a $83.00 price objective on shares of Kroger and gave the company a "buy" rating in a research report on Monday, June 23rd. Melius Research upgraded Kroger from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 20th. UBS Group restated a "neutral" rating and issued a $74.00 price target (up from $66.00) on shares of Kroger in a report on Monday, June 23rd. Finally, Barclays started coverage on Kroger in a research report on Monday, July 21st. They issued an "equal weight" rating and a $75.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $70.16.

Kroger Price Performance

Kroger stock traded up $0.46 during midday trading on Friday, reaching $74.22. 5,960,402 shares of the stock were exchanged, compared to its average volume of 6,112,559. The Kroger Co. has a 52 week low of $50.69 and a 52 week high of $74.69. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.53 and a current ratio of 0.95. The firm has a market cap of $49.05 billion, a PE ratio of 20.22, a PEG ratio of 2.35 and a beta of 0.59. The company's fifty day moving average is $69.94 and its 200-day moving average is $67.85.

Kroger (NYSE:KR - Get Free Report) last posted its quarterly earnings data on Friday, June 20th. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.04. Kroger had a return on equity of 34.71% and a net margin of 1.89%. 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 company earned $1.43 earnings per share. The firm's quarterly revenue was down .3% on a year-over-year basis. On average, sell-side analysts forecast that The Kroger Co. will post 4.44 EPS for the current year.

Kroger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be paid 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 yield of 1.9%. This is a boost from Kroger's previous quarterly dividend of $0.32. Kroger's dividend payout ratio is presently 34.88%.

Kroger Company 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.