Marietta Investment Partners LLC Acquires Shares of 85,155 The Kroger Co. (NYSE:KR)

Key Points

• Marietta Investment Partners LLC purchased 85,155 shares of Kroger, valued at approximately $5.76 million, making it the firm's 25th largest holding.
• Kroger's stock has received positive ratings from brokers, with price targets ranging from $67.00 to $83.00, indicating a consensus rating of "Moderate Buy."
• The company recently declared an increase in its quarterly dividend to $0.35 per share, representing a 1.96% yield.

Marietta Investment Partners LLC bought a new stake in The Kroger Co. (NYSE:KR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 85,155 shares of the company's stock, valued at approximately $5,764,000. Kroger comprises approximately 1.4% of Marietta Investment Partners LLC's investment portfolio, making the stock its 25th largest holding.

Several other large investors also recently bought and sold shares of KR. Brighton Jones LLC raised 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 worth $962,000 after purchasing an additional 3,373 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Kroger during the fourth quarter worth $223,000. LPL Financial LLC raised its holdings in shares of Kroger by 1.6% in the fourth quarter. LPL Financial LLC now owns 505,905 shares of the company's stock worth $30,936,000 after acquiring an additional 7,935 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Kroger by 8.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,066,859 shares of the company's stock valued at $65,569,000 after acquiring an additional 85,997 shares in the last quarter. Finally, UniSuper Management Pty Ltd boosted its stake in shares of Kroger by 12.6% during the fourth quarter. UniSuper Management Pty Ltd now owns 57,593 shares of the company's stock valued at $3,522,000 after acquiring an additional 6,467 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Kroger Stock Down 0.1%

Shares of NYSE KR traded down $0.05 on Wednesday, hitting $69.25. The company had a trading volume of 1,948,102 shares, compared to its average volume of 7,077,765. The Kroger Co. has a 12-month low of $50.69 and a 12-month high of $74.11. The business has a 50 day moving average of $69.31 and a two-hundred day moving average of $67.19. 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 firm has a market capitalization of $45.76 billion, a P/E ratio of 18.87, a PEG ratio of 2.21 and a beta of 0.59.

Kroger (NYSE:KR - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $45.12 billion for the quarter, compared to analysts' expectations of $45.35 billion. Kroger had a net margin of 1.76% and a return on equity of 30.01%. The company's quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.43 EPS. As a group, equities research analysts forecast that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Kroger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.40 dividend on an annualized basis and a yield of 2.02%. This is a positive change from Kroger's previous quarterly dividend of $0.32. Kroger's payout ratio is presently 34.88%.

Analyst Ratings Changes

KR has been the topic of several analyst reports. Guggenheim raised their price target on shares of Kroger from $73.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Telsey Advisory Group reiterated an "outperform" rating and issued a $82.00 price target (up from $73.00) on shares of Kroger in a report on Friday, June 20th. 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. Melius raised 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. Finally, Wall Street Zen upgraded Kroger from a "buy" rating to a "strong-buy" rating in a research report on Friday, July 18th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Kroger presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.16.

Insider Activity

In other Kroger news, VP Carin L. Fike sold 16,475 shares of the stock in a transaction 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 transaction, the vice president owned 49,360 shares in the company, valued at $3,642,274.40. This trade represents a 25.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Yael Cosset sold 71,224 shares of the 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,948 shares of company stock worth $14,422,926. Corporate insiders own 0.44% of the company's stock.

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.