LSV Asset Management Sells 411,558 Shares of The Kroger Co. (NYSE:KR)

Key Points

• LSV Asset Management reduced its stake in Kroger Co. by 4.9%, selling 411,558 shares, and now holds 8,056,306 shares, which represents 1.3% of its total holdings.
• Kroger recently announced an increase in its quarterly dividend from $0.32 to $0.35, with a dividend yield of 2.0%.
• The company reported earnings of $1.49 per share for its most recent quarter, exceeding analyst expectations, although its revenue fell slightly year-over-year.

LSV Asset Management decreased its position in shares of The Kroger Co. (NYSE:KR - Free Report) by 4.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,056,306 shares of the company's stock after selling 411,558 shares during the quarter. Kroger accounts for about 1.3% of LSV Asset Management's holdings, making the stock its 6th biggest position. LSV Asset Management owned about 1.22% of Kroger worth $545,331,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Transce3nd LLC purchased a new stake in Kroger in the 4th quarter valued at approximately $28,000. Garde Capital Inc. purchased a new stake in Kroger in the 1st quarter valued at approximately $31,000. Aster Capital Management DIFC Ltd purchased a new stake in Kroger in the 4th quarter valued at approximately $34,000. Sound Income Strategies LLC lifted its stake 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 buying an additional 175 shares in the last quarter. Finally, Accredited Wealth Management LLC purchased a new stake in Kroger in the 4th quarter valued at approximately $49,000. Hedge funds and other institutional investors own 80.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KR. Melius raised Kroger from a "sell" rating to a "hold" rating and set a $70.00 target price on the stock in a research note on Tuesday, May 20th. JPMorgan Chase & Co. increased their price target on Kroger from $72.00 to $82.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Morgan Stanley set a $76.00 price target on Kroger and gave the stock an "equal weight" rating in a research note on Monday, June 23rd. Deutsche Bank Aktiengesellschaft increased their price target on Kroger from $57.00 to $67.00 and gave the stock a "hold" rating in a research note on Monday, June 23rd. Finally, Melius Research raised Kroger from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $70.16.

Kroger Stock Up 2.8%

Shares of Kroger stock traded up $1.99 during trading hours on Wednesday, hitting $73.74. 3,658,116 shares of the company's stock traded hands, compared to its average volume of 7,081,292. The stock has a 50 day simple moving average of $69.55 and a 200-day simple moving average of $67.60. The company has a quick ratio of 0.53, a current ratio of 0.95 and a debt-to-equity ratio of 1.92. The company has a market cap of $48.74 billion, a PE ratio of 20.09, a PEG ratio of 2.28 and a beta of 0.59. The Kroger Co. has a twelve month low of $50.69 and a twelve month high of $74.11.

Kroger (NYSE:KR - Get Free Report) last announced its earnings results on Friday, June 20th. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04. The company had revenue of $45.12 billion during the quarter, compared to the consensus estimate of $45.35 billion. Kroger had a return on equity of 34.71% and a net margin of 1.89%. The company's revenue was down .3% on a year-over-year basis. During the same period last year, the firm earned $1.43 earnings per share. Equities research analysts anticipate that The Kroger Co. will post 4.44 earnings per share for the current fiscal 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 paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.9%. This is a positive change from Kroger's previous quarterly dividend of $0.32. The ex-dividend date is Friday, August 15th. Kroger's payout ratio is 34.88%.

Insiders Place Their Bets

In other Kroger news, Director Clyde R. Moore sold 26,814 shares of the firm's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $70.50, for a total value of $1,890,387.00. Following the transaction, the director owned 99,143 shares of the company's stock, valued at $6,989,581.50. This trade represents a 21.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Yael Cosset sold 71,224 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was 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 in the company, valued at $10,224,222.76. This represents a 33.86% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 198,948 shares of company stock valued at $14,422,926. 0.44% of the stock is owned by company insiders.

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.