Liberty One Investment Management LLC Makes New $30.94 Million Investment in The Kroger Co. (NYSE:KR)

Liberty One Investment Management LLC bought a new stake in shares of The Kroger Co. (NYSE:KR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 457,079 shares of the company's stock, valued at approximately $30,940,000. Kroger accounts for approximately 3.1% of Liberty One Investment Management LLC's portfolio, making the stock its 8th biggest holding. Liberty One Investment Management LLC owned about 0.07% of Kroger as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of KR. Brighton Jones LLC lifted its position in shares of Kroger by 27.3% during the 4th quarter. Brighton Jones LLC now owns 15,733 shares of the company's stock valued at $962,000 after acquiring an additional 3,373 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Kroger during the 4th quarter worth $70,000. Assetmark Inc. lifted its position in shares of Kroger by 239.9% during the 4th quarter. Assetmark Inc. now owns 13,481 shares of the company's stock worth $824,000 after buying an additional 9,515 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Kroger during the 4th quarter worth $223,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Kroger during the 4th quarter worth $68,581,000. 80.93% of the stock is currently owned by institutional investors.

Kroger Trading Down 2.4%

Shares of KR stock traded down $1.71 on Tuesday, hitting $69.74. The company had a trading volume of 6,948,725 shares, compared to its average volume of 5,885,063. The Kroger Co. has a twelve month low of $50.69 and a twelve month high of $74.11. 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 stock's 50-day moving average is $69.04 and its two-hundred day moving average is $66.07. The firm has a market cap of $46.09 billion, a P/E ratio of 19.00, a P/E/G ratio of 2.23 and a beta of 0.59.

Kroger (NYSE:KR - Get Free Report) last announced its quarterly earnings results on Friday, June 20th. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 30.01% and a net margin of 1.76%. The company's quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 earnings per share. On average, equities research analysts anticipate that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Kroger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, August 15th. This is a positive change from Kroger's previous quarterly dividend of $0.32. Kroger's dividend payout ratio (DPR) is currently 34.88%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KR. JPMorgan Chase & Co. upped their price objective on Kroger from $72.00 to $82.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Melius upgraded Kroger from a "sell" rating to a "hold" rating and set a $70.00 price objective for the company in a research report on Tuesday, May 20th. Morgan Stanley set a $76.00 price objective on Kroger and gave the stock an "equal weight" rating in a research report on Monday, June 23rd. Deutsche Bank Aktiengesellschaft upped their target price on Kroger from $57.00 to $67.00 and gave the stock a "hold" rating in a report on Monday, June 23rd. Finally, Wall Street Zen raised Kroger from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $70.00.

Insider Buying and Selling

In other news, EVP Gabriel Arreaga sold 37,960 shares of the firm'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 transaction, the executive vice president owned 75,218 shares in the company, valued at $5,448,791.92. This trade represents a 33.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Yael Cosset sold 71,224 shares of Kroger stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $73.49, for a total value of $5,234,251.76. Following the sale, the executive vice president owned 139,124 shares in the company, valued at $10,224,222.76. The trade was a 33.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 244,462 shares of company stock valued at $17,649,963. 0.44% of the stock is currently owned by company insiders.

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.