Mariner Investment Group LLC Sells 10,000 Shares of The Kroger Co. (NYSE:KR)

Mariner Investment Group LLC trimmed its position in shares of The Kroger Co. (NYSE:KR - Free Report) by 50.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,000 shares of the company's stock after selling 10,000 shares during the period. Kroger makes up approximately 0.3% of Mariner Investment Group LLC's holdings, making the stock its 21st largest holding. Mariner Investment Group LLC's holdings in Kroger were worth $677,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KR. Bessemer Group Inc. grew its stake in shares of Kroger by 1.7% in the 1st quarter. Bessemer Group Inc. now owns 12,545 shares of the company's stock valued at $850,000 after purchasing an additional 213 shares during the period. Diversified Trust Co grew its stake in shares of Kroger by 3.7% in the 1st quarter. Diversified Trust Co now owns 6,429 shares of the company's stock valued at $435,000 after purchasing an additional 229 shares during the period. Proficio Capital Partners LLC bought a new stake in Kroger during the 4th quarter worth approximately $223,000. Wealth Enhancement Advisory Services LLC grew its position in Kroger by 8.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 307,790 shares of the company's stock worth $20,834,000 after acquiring an additional 24,849 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its position in Kroger by 67.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,336 shares of the company's stock worth $90,000 after acquiring an additional 537 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Kroger Price Performance

KR traded up $0.23 during trading on Wednesday, hitting $72.84. 1,896,852 shares of the stock traded hands, compared to its average volume of 5,934,387. The Kroger Co. has a twelve month low of $50.69 and a twelve month high of $74.11. The company has a market cap of $48.14 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 2.30 and a beta of 0.59. 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 business has a 50 day moving average price of $68.86 and a 200 day moving average price of $66.67.

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 company had revenue of $45.12 billion during the quarter, compared to the consensus estimate of $45.35 billion. Kroger had a net margin of 1.76% and a return on equity of 30.01%. The company's revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.43 earnings per share. Equities research analysts forecast 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. Shareholders of record on Friday, August 15th will be given a dividend of $0.35 per share. 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 1.92%. This is a boost from Kroger's previous quarterly dividend of $0.32. Kroger's dividend payout ratio is 38.15%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KR. Wall Street Zen raised Kroger from a "buy" rating to a "strong-buy" rating in a report on Friday, July 18th. Guggenheim upped their price objective on Kroger from $73.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Telsey Advisory Group reissued an "outperform" rating and issued a $82.00 price target (up previously from $73.00) on shares of Kroger in a research note on Friday, June 20th. Morgan Stanley set a $76.00 price target on Kroger and gave the company an "equal weight" rating in a research note on Monday, June 23rd. Finally, Melius raised Kroger from a "sell" rating to a "hold" rating and set a $70.00 price target on the stock in a research note on Tuesday, May 20th. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $70.16.

Insider Buying and Selling at Kroger

In other news, VP Carin L. Fike sold 16,475 shares of the stock in a transaction dated Monday, June 23rd. The shares were 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 of the company's stock, valued at $3,642,274.40. This represents a 25.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy A. Massa sold 8,415 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $74.00, for a total transaction of $622,710.00. Following the transaction, the executive vice president directly owned 118,761 shares in the company, valued at $8,788,314. This trade represents a 6.62% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 198,948 shares of company stock valued at $14,422,926. 0.44% of the stock is owned by corporate 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.