The Kroger Co. (NYSE:KR) Shares Bought by Navellier & Associates Inc.

Key Points

• Navellier & Associates Inc. increased its stake in The Kroger Co. by 228.2% in the first quarter, acquiring an additional 37,801 shares, bringing its total holdings to 54,364 shares valued at approximately $3.96 million.
• Kroger announced a quarterly dividend increase from $0.32 to $0.35 per share, representing an annualized dividend of $1.40 and a yield of 1.96%, payable on September 1st.
• Insider selling has been notable, with EVP and Director selling shares worth nearly $15 million collectively over the past three months, contributing to the 0.44% of the company currently held by insiders.

Navellier & Associates Inc. raised its holdings in shares of The Kroger Co. (NYSE:KR - Free Report) by 228.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 54,364 shares of the company's stock after acquiring an additional 37,801 shares during the quarter. Navellier & Associates Inc.'s holdings in Kroger were worth $3,962,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Kroger in the 4th quarter valued at about $598,390,000. Steadfast Capital Management LP acquired a new stake in shares of Kroger in the 4th quarter valued at about $277,989,000. Junto Capital Management LP purchased a new stake in Kroger during the 4th quarter valued at approximately $264,207,000. Alyeska Investment Group L.P. purchased a new stake in Kroger during the 4th quarter valued at approximately $123,829,000. Finally, FMR LLC raised its stake in Kroger by 39.1% during the 4th quarter. FMR LLC now owns 7,054,824 shares of the company's stock valued at $431,402,000 after acquiring an additional 1,981,259 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Kroger

In related news, Director Clyde R. Moore sold 3,810 shares of Kroger stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $71.61, for a total value of $272,834.10. Following the transaction, the director owned 85,850 shares in the company, valued at approximately $6,147,718.50. This trade represents a 4.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy A. Massa sold 8,415 shares of Kroger stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $74.00, for a total value of $622,710.00. Following the completion of the transaction, the executive vice president owned 118,761 shares in the company, valued at $8,788,314. The trade was a 6.62% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 198,948 shares of company stock valued at $14,422,926. 0.44% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on KR. Wall Street Zen raised Kroger from a "buy" rating to a "strong-buy" rating in a research note on Friday, July 18th. Melius Research raised Kroger from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft upped their price objective on Kroger from $57.00 to $67.00 and gave the company a "hold" 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 note on Tuesday, May 20th. Finally, JPMorgan Chase & Co. increased their target price on Kroger from $72.00 to $82.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Ten investment 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $70.16.

Kroger Price Performance

Kroger stock traded down $0.92 during mid-day trading on Friday, hitting $71.47. 3,396,261 shares of the company were exchanged, compared to its average volume of 5,760,720. The Kroger Co. has a 12-month low of $50.69 and a 12-month high of $74.11. The business's 50 day simple moving average is $69.31 and its two-hundred day simple moving average is $66.99. 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 company has a market capitalization of $47.23 billion, a P/E ratio of 19.47, a PEG ratio of 2.31 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 (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.04. Kroger had a return on equity of 30.01% and a net margin of 1.76%. The business had revenue of $45.12 billion for the quarter, compared to analysts' expectations of $45.35 billion. During the same quarter last year, the firm earned $1.43 earnings per share. The business's revenue was down .3% on a year-over-year basis. Analysts forecast that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Kroger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders 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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.40 annualized dividend and a dividend yield of 1.96%. Kroger's dividend payout ratio (DPR) is 38.15%.

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.