IFG Advisory LLC Acquires 4,556 Shares of The Kroger Co. (NYSE:KR)

Key Points

• IFG Advisory LLC increased its stake in The Kroger Co. by 16.6% in Q1 2023, holding 32,008 shares valued at approximately $2.17 million.
• Kroger's quarterly dividend has been raised to $0.35 per share, reflecting a 2.0% yield for shareholders.
• Recent analyst reports have shown mixed ratings for Kroger, with a consensus rating of "Hold" and an average price target of $70.16.

IFG Advisory LLC increased its position in The Kroger Co. (NYSE:KR - Free Report) by 16.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,008 shares of the company's stock after purchasing an additional 4,556 shares during the quarter. IFG Advisory LLC's holdings in Kroger were worth $2,167,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Transce3nd LLC bought a new stake in shares of Kroger in the 4th quarter valued at about $28,000. Garde Capital Inc. bought a new position in Kroger in the 1st quarter valued at about $31,000. Aster Capital Management DIFC Ltd bought a new position in Kroger in the 4th quarter valued at about $34,000. Sound Income Strategies LLC raised its holdings in Kroger by 46.7% in the 1st quarter. Sound Income Strategies LLC now owns 550 shares of the company's stock valued at $37,000 after acquiring an additional 175 shares during the period. Finally, Mascagni Wealth Management Inc. bought a new position in shares of Kroger during the fourth quarter worth approximately $49,000. 80.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Kroger news, EVP Gabriel Arreaga sold 37,960 shares of the 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 completion of the sale, the executive vice president owned 75,218 shares of the company's stock, valued at $5,448,791.92. This represents a 33.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Clyde R. Moore sold 3,810 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $71.61, for a total transaction of $272,834.10. Following the completion of the sale, the director directly owned 85,850 shares of the company's stock, valued at approximately $6,147,718.50. This represents a 4.25% 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 worth $14,422,926 in the last ninety days. 0.44% of the stock is currently owned by insiders.

Kroger Stock Performance

Shares of KR stock traded down $0.47 during trading on Thursday, reaching $73.26. 246,507 shares of the company's stock traded hands, compared to its average volume of 7,062,625. The company has a market capitalization of $48.42 billion, a P/E ratio of 19.98, a PEG ratio of 2.29 and a beta of 0.59. The company has a current ratio of 0.95, a quick ratio of 0.53 and a debt-to-equity ratio of 1.92. The firm's 50-day moving average is $69.68 and its 200 day moving average is $67.64. The Kroger Co. has a 1 year low of $50.69 and a 1 year high of $74.11.

Kroger (NYSE:KR - Get Free Report) last posted its earnings results on Friday, June 20th. The company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.04. The business had revenue of $45.12 billion for the quarter, compared to analyst estimates of $45.35 billion. Kroger had a net margin of 1.89% and a return on equity of 34.71%. Kroger's revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.43 EPS. Equities research analysts expect that The Kroger Co. will post 4.44 EPS for the current year.

Kroger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be paid a $0.35 dividend. This is a positive change from Kroger's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.9%. Kroger's dividend payout ratio is currently 34.88%.

Analysts Set New Price Targets

Several brokerages have recently commented on KR. Barclays began coverage on shares of Kroger in a report on Monday, July 21st. They set an "equal weight" rating and a $75.00 target price on the stock. Morgan Stanley set a $76.00 target price on shares of Kroger and gave the stock an "equal weight" rating in a report on Monday, June 23rd. Telsey Advisory Group reaffirmed an "outperform" rating and set a $82.00 target price (up from $73.00) on shares of Kroger in a report on Friday, June 20th. Melius Research upgraded shares of Kroger from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, 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 research report on Tuesday, May 20th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, Kroger has a consensus rating of "Hold" and a consensus price target of $70.16.

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.