The Kroger Co. (NYSE:KR) Shares Sold by ING Groep NV

Key Points

• ING Groep NV has reduced its stake in The Kroger Co. by 32.6%, owning 105,075 shares after selling 50,836 shares during the first quarter, which are now valued at $7.1 million.
• Kroger recently increased its quarterly dividend to $0.35 per share, up from $0.32, resulting in an annualized yield of 2.0%.
• Analysts are divided on Kroger's stock with ten giving a hold rating and nine a buy rating, while the average price target stands at $70.16.

ING Groep NV cut its holdings in shares of The Kroger Co. (NYSE:KR - Free Report) by 32.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 105,075 shares of the company's stock after selling 50,836 shares during the period. ING Groep NV's holdings in Kroger were worth $7,113,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its position in Kroger by 2.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 297,360 shares of the company's stock worth $20,128,000 after purchasing an additional 6,326 shares during the period. Smithfield Trust Co lifted its stake in Kroger by 101.6% in the 1st quarter. Smithfield Trust Co now owns 3,195 shares of the company's stock valued at $218,000 after buying an additional 1,610 shares in the last quarter. Liberty Wealth Management LLC purchased a new position in Kroger in the 1st quarter valued at about $206,000. J. Safra Sarasin Holding AG lifted its stake in Kroger by 45.3% in the 1st quarter. J. Safra Sarasin Holding AG now owns 39,374 shares of the company's stock worth $2,665,000 after purchasing an additional 12,271 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Kroger by 0.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 201,338 shares of the company's stock worth $13,629,000 after purchasing an additional 1,118 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Barclays started coverage on shares of Kroger in a research report on Monday, July 21st. They set an "equal weight" rating and a $75.00 price target on the stock. Jefferies Financial Group set a $83.00 price target on shares of Kroger and gave the stock a "buy" rating in a research note on Monday, June 23rd. Melius Research upgraded shares of Kroger from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Kroger from $57.00 to $67.00 and gave the stock a "hold" rating in a research report on Monday, June 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Kroger from $72.00 to $82.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, Kroger currently has an average rating of "Hold" and an average target price of $70.16.

Insider Buying and Selling at Kroger

In other Kroger news, EVP Gabriel Arreaga sold 37,960 shares of Kroger stock in a transaction that occurred on Wednesday, June 25th. The shares were 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 directly owned 75,218 shares of the company's stock, valued at approximately $5,448,791.92. The trade was a 33.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Carin L. Fike sold 16,475 shares of Kroger stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $73.79, for a total transaction of $1,215,690.25. Following the completion of the sale, the vice president directly owned 49,360 shares of the company's stock, 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. Over the last 90 days, insiders sold 198,948 shares of company stock worth $14,422,926. 0.44% of the stock is currently owned by insiders.

Kroger Price Performance

Shares of KR stock traded up $1.99 during midday trading on Wednesday, reaching $73.74. 7,086,030 shares of the company traded hands, compared to its average volume of 6,117,359. The firm's 50 day simple moving average is $69.55 and its two-hundred day simple moving average is $67.60. The Kroger Co. has a 1-year low of $50.69 and a 1-year high of $74.11. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.95 and a quick ratio of 0.53. The firm has a market cap of $48.74 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 2.29 and a beta of 0.59.

Kroger (NYSE:KR - Get Free Report) last issued its quarterly earnings data 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. Kroger had a net margin of 1.89% and a return on equity of 34.71%. The business had revenue of $45.12 billion during the quarter, compared to analysts' expectations of $45.35 billion. During the same period last year, the company posted $1.43 EPS. The company's revenue was down .3% on a year-over-year basis. On average, equities research analysts expect that The Kroger Co. will post 4.44 EPS for the current fiscal 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 dividend of $0.35 per share. 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 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.