The Kroger Co. (NYSE:KR) Shares Bought by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its stake in The Kroger Co. by 6.1%, bringing its total holdings to 308,459 shares worth approximately $20.84 million.
• Kroger recently reported $1.49 EPS for the quarter, exceeding the consensus estimate, while its revenue was $45.12 billion, slightly below expectations.
• The company announced an increase in its quarterly dividend to $0.35 per share, with a dividend yield of 1.9%, a rise from the previous dividend of $0.32.

Resona Asset Management Co. Ltd. raised its stake in shares of The Kroger Co. (NYSE:KR - Free Report) by 6.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 308,459 shares of the company's stock after buying an additional 17,834 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Kroger were worth $20,844,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of KR. Accent Capital Management LLC purchased a new position in shares of Kroger in the 1st quarter worth $25,000. Transce3nd LLC purchased a new position in shares of Kroger in the 4th quarter worth $28,000. Garde Capital Inc. purchased a new position in shares of Kroger in the 1st quarter worth $31,000. Sound Income Strategies LLC raised its position in shares of Kroger by 46.7% in the 1st quarter. Sound Income Strategies LLC now owns 550 shares of the company's stock worth $37,000 after buying an additional 175 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Kroger in the 1st quarter worth $41,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Kroger Stock Down 1.5%

Shares of NYSE KR traded down $1.09 during midday trading on Thursday, reaching $69.24. 5,315,253 shares of the company's stock were exchanged, compared to its average volume of 6,711,739. The Kroger Co. has a 52-week low of $50.69 and a 52-week high of $74.90. The stock has a market capitalization of $45.76 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 2.24 and a beta of 0.59. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.53 and a current ratio of 0.95. The business's fifty day moving average price is $70.33 and its two-hundred day moving average price is $68.21.

Kroger (NYSE:KR - Get Free Report) last announced its earnings results on Friday, June 20th. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.04. The business had revenue of $45.12 billion for the quarter, compared to analyst estimates of $45.35 billion. Kroger had a return on equity of 34.71% and a net margin of 1.89%. The company's revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.43 earnings per share. Analysts forecast that The Kroger Co. will post 4.44 EPS for the current 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 2.0%. 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 related news, Director Clyde R. Moore sold 26,814 shares of Kroger stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $70.50, for a total value of $1,890,387.00. Following the completion of the transaction, the director directly owned 99,143 shares in the company, valued at approximately $6,989,581.50. This trade represents a 21.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Yael Cosset sold 71,224 shares of Kroger stock in a transaction dated 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 completion of the transaction, the executive vice president owned 139,124 shares of the company's stock, valued at $10,224,222.76. This trade represents a 33.86% decrease in their ownership of the stock. 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.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KR. Morgan Stanley set a $76.00 target price on Kroger and gave the stock an "equal weight" rating in a research report on Monday, June 23rd. Melius raised Kroger from a "sell" rating to a "hold" rating and set a $70.00 target price on the stock in a research report on Tuesday, May 20th. Barclays initiated coverage on Kroger in a research report on Monday, July 21st. They issued an "equal weight" rating and a $75.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on Kroger from $57.00 to $67.00 and gave the company a "hold" rating in a research report on Monday, June 23rd. Finally, UBS Group reissued a "neutral" rating and issued a $74.00 price objective (up from $66.00) on shares of Kroger in a research report on Monday, June 23rd. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Kroger currently has an average rating of "Hold" and a consensus price target of $70.53.

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.