State of Michigan Retirement System Has $14.76 Million Stock Position in The Kroger Co. (NYSE:KR)

State of Michigan Retirement System decreased its stake in shares of The Kroger Co. (NYSE:KR - Free Report) by 64.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 217,987 shares of the company's stock after selling 400,100 shares during the quarter. State of Michigan Retirement System's holdings in Kroger were worth $14,756,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Millstone Evans Group LLC acquired a new position in shares of Kroger during the 4th quarter worth approximately $25,000. TCTC Holdings LLC acquired a new position in shares of Kroger during the 4th quarter worth approximately $27,000. Transce3nd LLC acquired a new position in shares of Kroger during the 4th quarter worth approximately $28,000. Garde Capital Inc. acquired a new position in shares of Kroger during the 1st quarter worth approximately $31,000. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Kroger during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on KR shares. Guggenheim boosted their target price on Kroger from $73.00 to $78.00 and gave the stock a "buy" rating in a 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 report on Tuesday, May 20th. Morgan Stanley set a $76.00 target price on Kroger and gave the stock an "equal weight" rating in a report on Monday, June 23rd. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $82.00 price objective (up from $73.00) on shares of Kroger in a report on Friday, June 20th. Finally, Melius Research raised Kroger from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 20th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $70.00.

Kroger Stock Performance

NYSE:KR opened at $70.48 on Friday. The stock has a fifty day moving average price of $68.91 and a 200-day moving average price of $66.25. The company has a market cap of $46.58 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 2.26 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 Kroger Co. has a fifty-two week low of $50.69 and a fifty-two week high of $74.11.

Kroger (NYSE:KR - Get Free Report) last announced 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. Kroger had a return on equity of 30.01% and a net margin of 1.76%. The business had revenue of $45.12 billion during the quarter, compared to the consensus estimate of $45.35 billion. During the same period in the prior year, the company earned $1.43 EPS. Kroger's revenue for the quarter was down .3% on a year-over-year basis. As a group, equities analysts anticipate that The Kroger Co. will post 4.44 EPS for the current fiscal year.

Kroger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be given a $0.35 dividend. The ex-dividend date is Friday, August 15th. This is an increase from Kroger's previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.99%. Kroger's dividend payout ratio (DPR) is currently 34.88%.

Insider Transactions at Kroger

In other Kroger news, EVP Yael Cosset sold 71,224 shares of the 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 directly owned 139,124 shares in the company, valued at approximately $10,224,222.76. This trade represents a 33.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gabriel Arreaga sold 37,960 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $72.44, for a total value of $2,749,822.40. Following the completion of the sale, the executive vice president directly owned 75,218 shares of the company's stock, valued at approximately $5,448,791.92. The trade was a 33.54% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 244,462 shares of company stock valued at $17,649,963. 0.44% of the stock is currently owned by corporate insiders.

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.

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