IFG Advisory LLC Has $2.17 Million Stock Position in 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 lifted its position in shares of The Kroger Co. (NYSE:KR - Free Report) by 16.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,008 shares of the company's stock after buying 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 hedge funds and other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. lifted its holdings in shares of Kroger by 1.7% during the first quarter. Bessemer Group Inc. now owns 12,545 shares of the company's stock worth $850,000 after buying an additional 213 shares in the last quarter. Diversified Trust Co lifted its holdings in shares of Kroger by 3.7% during the first quarter. Diversified Trust Co now owns 6,429 shares of the company's stock worth $435,000 after buying an additional 229 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Kroger by 8.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 307,790 shares of the company's stock valued at $20,834,000 after purchasing an additional 24,849 shares in the last quarter. IFP Advisors Inc raised its stake in Kroger by 4.0% in the first quarter. IFP Advisors Inc now owns 8,967 shares of the company's stock valued at $607,000 after purchasing an additional 348 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its stake in Kroger by 67.2% in the first quarter. Golden State Wealth Management LLC now owns 1,336 shares of the company's stock valued at $90,000 after purchasing an additional 537 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Insiders Place Their Bets

In related news, EVP Gabriel Arreaga sold 37,960 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president directly owned 75,218 shares in the company, valued at $5,448,791.92. This represents a 33.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Carin L. Fike sold 16,475 shares of the company's stock in a transaction that occurred on 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 sale, the vice president owned 49,360 shares in the company, valued at $3,642,274.40. The trade was a 25.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 198,948 shares of company stock valued at $14,422,926 over the last three months. Insiders own 0.44% of the company's stock.

Analysts Set New Price Targets

KR has been the subject of a number of analyst reports. Melius raised Kroger from a "sell" rating to a "hold" rating and set a $70.00 price target for the company in a research note on Tuesday, May 20th. JPMorgan Chase & Co. boosted their price target on 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 downgraded Kroger from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Evercore ISI dropped their price target on Kroger from $76.00 to $75.00 and set an "outperform" rating for the company in a research note on Tuesday, June 17th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $82.00 price target (up previously from $73.00) on shares of Kroger in a research note on Friday, June 20th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $70.16.

Kroger Stock Performance

NYSE:KR opened at $71.42 on Friday. The stock has a market cap of $47.20 billion, a P/E ratio of 19.46, a price-to-earnings-growth ratio of 2.28 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 stock's 50-day moving average is $69.42 and its 200-day moving average is $67.42. 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 released its quarterly earnings results on Friday, June 20th. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.04. The company had revenue of $45.12 billion for the quarter, compared to analysts' expectations of $45.35 billion. Kroger had a return on equity of 34.71% and a net margin of 1.89%. The business's quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.43 earnings per share. Equities research analysts anticipate that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be issued a $0.35 dividend. The ex-dividend date is Friday, August 15th. This is a boost from Kroger's previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 2.0%. Kroger's dividend payout ratio (DPR) is currently 34.88%.

About Kroger

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.

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