Polar Asset Management Partners Inc. Makes New Investment in The Kroger Co. $KR

Key Points

• Polar Asset Management Partners Inc. acquired a new position in The Kroger Co., purchasing 29,200 shares valued at approximately $1.977 million in the first quarter.
• The company's stock has recently been rated by several analysts with a consensus rating of "Hold" and a target price of $70.58.
• Kroger announced an increase in its quarterly dividend from $0.32 to $0.35 per share, resulting in an annualized yield of 2.1%.

Polar Asset Management Partners Inc. purchased a new position in shares of The Kroger Co. (NYSE:KR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 29,200 shares of the company's stock, valued at approximately $1,977,000.

Several other large investors have also added to or reduced their stakes in KR. Dimensional Fund Advisors LP raised its stake in shares of Kroger by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 14,299,898 shares of the company's stock worth $967,863,000 after purchasing an additional 186,302 shares during the last quarter. Wellington Management Group LLP raised its position in Kroger by 85.3% during the 1st quarter. Wellington Management Group LLP now owns 6,397,771 shares of the company's stock worth $433,065,000 after buying an additional 2,945,848 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Kroger by 15.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,363,964 shares of the company's stock valued at $389,156,000 after acquiring an additional 865,699 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Kroger by 0.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,067,209 shares of the company's stock valued at $342,999,000 after acquiring an additional 31,477 shares during the last quarter. Finally, Steadfast Capital Management LP acquired a new stake in shares of Kroger in the fourth quarter worth $277,989,000. Hedge funds and other institutional investors own 80.93% of the company's stock.

Analyst Ratings Changes

KR has been the subject of a number of research reports. Wall Street Zen downgraded shares of Kroger from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $75.00 price objective (down previously from $82.00) on shares of Kroger in a report on Wednesday, August 20th. Melius Research raised Kroger from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 20th. Barclays assumed coverage on Kroger in a research report on Monday, July 21st. They set an "equal weight" rating and a $75.00 price target for the company. Finally, Jefferies Financial Group set a $83.00 price objective on Kroger and gave the stock a "buy" rating in a research report on Monday, June 23rd. Seven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Kroger currently has an average rating of "Hold" and an average target price of $70.58.

Kroger Price Performance

NYSE KR traded up $1.16 on Thursday, hitting $68.19. The company had a trading volume of 8,619,078 shares, compared to its average volume of 7,088,582. 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's fifty day moving average price is $70.46 and its 200-day moving average price is $68.82. The company has a market capitalization of $45.06 billion, a PE ratio of 18.53, a PEG ratio of 2.16 and a beta of 0.59. The Kroger Co. has a 12-month low of $51.52 and a 12-month high of $74.90.

Kroger (NYSE:KR - Get Free Report) last announced its earnings results on Thursday, September 11th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. Kroger had a net margin of 1.89% and a return on equity of 34.71%. The company's revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the business earned $0.93 EPS. Kroger has set its FY 2025 guidance at 4.700-4.800 EPS. As a group, analysts predict that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.1%. This is a boost from Kroger's previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 15th. Kroger's dividend payout ratio (DPR) is 38.15%.

Insider Transactions at Kroger

In other Kroger news, VP Carin L. Fike sold 16,475 shares of Kroger stock in a transaction on 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 sale, the vice president owned 49,360 shares of the company's stock, valued at $3,642,274.40. The trade was a 25.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mary Ellen Adcock sold 34,250 shares of the stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $71.16, for a total transaction of $2,437,230.00. Following the completion of the sale, the executive vice president owned 184,473 shares of the company's stock, valued at $13,127,098.68. This trade represents a 15.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 198,948 shares of company stock valued at $14,422,926. Insiders own 0.44% of the company's stock.

About Kroger

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.