Liberty One Investment Management LLC Makes New Investment in The Kroger Co. (NYSE:KR)

Liberty One Investment Management LLC bought a new stake in The Kroger Co. (NYSE:KR - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 457,079 shares of the company's stock, valued at approximately $30,940,000. Kroger comprises about 3.1% of Liberty One Investment Management LLC's investment portfolio, making the stock its 8th largest position. Liberty One Investment Management LLC owned about 0.07% of Kroger at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Kroger by 27.3% in the fourth quarter. Brighton Jones LLC now owns 15,733 shares of the company's stock worth $962,000 after acquiring an additional 3,373 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Kroger during the fourth quarter worth $70,000. Assetmark Inc. grew its stake in shares of Kroger by 239.9% during the fourth quarter. Assetmark Inc. now owns 13,481 shares of the company's stock worth $824,000 after purchasing an additional 9,515 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Kroger during the fourth quarter worth $223,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Kroger during the fourth quarter worth $68,581,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Kroger Stock Performance

Shares of NYSE:KR traded down $0.23 on Friday, reaching $70.48. The company's stock had a trading volume of 4,192,063 shares, compared to its average volume of 5,892,258. The stock's 50-day moving average is $68.91 and its two-hundred day moving average is $66.25. The Kroger Co. has a 52-week low of $50.69 and a 52-week 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 stock has a market capitalization of $46.58 billion, a P/E ratio of 19.20, a PEG ratio of 2.26 and a beta of 0.59.

Kroger (NYSE:KR - Get Free Report) last announced its earnings results on Friday, June 20th. The company reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.04. Kroger had a net margin of 1.76% and a return on equity of 30.01%. The business had revenue of $45.12 billion during the quarter, compared to analysts' expectations of $45.35 billion. During the same period in the prior year, the company earned $1.43 earnings per share. The business's revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts forecast that The Kroger Co. will post 4.44 EPS for the current year.

Kroger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be issued a dividend of $0.35 per share. This is a boost from Kroger's previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Friday, August 15th. Kroger's dividend payout ratio is currently 34.88%.

Insider Activity

In related news, EVP Yael Cosset sold 71,224 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $73.49, for a total transaction of $5,234,251.76. Following the completion of the transaction, the executive vice president directly owned 139,124 shares of the company's stock, valued at $10,224,222.76. This represents a 33.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Christine S. Wheatley sold 30,000 shares of the stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $72.07, for a total transaction of $2,162,100.00. Following the transaction, the executive vice president directly owned 97,737 shares of the company's stock, valued at $7,043,905.59. This represents a 23.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 244,462 shares of company stock valued at $17,649,963 over the last ninety days. 0.44% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Telsey Advisory Group reiterated an "outperform" rating and set a $82.00 target price (up previously from $73.00) on shares of Kroger in a research note on Friday, June 20th. Melius upgraded shares of Kroger from a "sell" rating to a "hold" rating and set a $70.00 target price for the company in a research note on Tuesday, May 20th. Morgan Stanley set a $76.00 target price on shares of Kroger and gave the stock an "equal weight" rating in a research note on Monday, June 23rd. Jefferies Financial Group set a $83.00 target price on shares of Kroger and gave the stock a "buy" rating in a research note on Monday, June 23rd. Finally, Melius Research upgraded shares of Kroger from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $70.00.

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.