BI Asset Management Fondsmaeglerselskab A S Sells 23,238 Shares of The Kroger Co. $KR

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in The Kroger Co. by 43.9%, resulting in ownership of 29,743 shares valued at approximately $2 million at the end of the first quarter.
• Kroger has announced a quarterly dividend increase to $0.35, representing a 2.0% yield, and plans to maintain a projected earnings per share of 4.600-4.800 for FY 2025.
• Multiple analysts have upgraded their price targets for Kroger, with Deutsche Bank raising their target to $67.00 and UBS Group to $74.00, reflecting positive market sentiment around the stock.

BI Asset Management Fondsmaeglerselskab A S cut its holdings in The Kroger Co. (NYSE:KR - Free Report) by 43.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,743 shares of the company's stock after selling 23,238 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Kroger were worth $2,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in Kroger by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 14,299,898 shares of the company's stock valued at $967,863,000 after acquiring an additional 186,302 shares in the last quarter. Northern Trust Corp boosted its position in Kroger by 13.3% during the 4th quarter. Northern Trust Corp now owns 7,829,401 shares of the company's stock valued at $478,768,000 after acquiring an additional 916,230 shares in the last quarter. Wellington Management Group LLP boosted 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 valued at $433,065,000 after acquiring an additional 2,945,848 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Kroger by 0.6% during 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 in the last quarter. 80.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Yael Cosset sold 71,224 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were 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 $10,224,222.76. The trade was a 33.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Carin L. Fike sold 16,475 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $73.79, for a total transaction of $1,215,690.25. Following the completion of the transaction, the vice president owned 49,360 shares of the company's stock, valued at approximately $3,642,274.40. The trade was a 25.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 198,948 shares of company stock worth $14,422,926 over the last 90 days. 0.44% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

KR has been the topic of several research reports. Barclays initiated coverage on Kroger in a research report on Monday, July 21st. They set an "equal weight" rating and a $75.00 price objective on the stock. Jefferies Financial Group set a $83.00 price objective on Kroger and gave the company a "buy" rating in a research report on Monday, June 23rd. Evercore ISI boosted their price target on Kroger from $80.00 to $82.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. UBS Group reissued a "neutral" rating and issued a $74.00 price target (up from $66.00) on shares of Kroger in a research report 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 report on Tuesday, May 20th. Seven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $70.58.

Kroger Stock Down 2.8%

Shares of KR traded down $1.9870 during mid-day trading on Friday, reaching $69.4330. The company had a trading volume of 6,981,074 shares, compared to its average volume of 6,784,704. 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 firm has a 50-day moving average price of $70.95 and a 200 day moving average price of $68.58. The Kroger Co. has a 52 week low of $50.69 and a 52 week high of $74.90. The company has a market capitalization of $45.89 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 2.22 and a beta of 0.59.

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 analysts' consensus estimates of $1.45 by $0.04. Kroger had a net margin of 1.89% and a return on equity of 34.71%. The company had revenue of $45.12 billion during the quarter, compared to analyst estimates of $45.35 billion. During the same period in the previous year, the business earned $1.43 EPS. The firm's revenue for the quarter was down .3% on a year-over-year basis. Kroger has set its FY 2025 guidance at 4.600-4.800 EPS. On average, sell-side analysts forecast that The Kroger Co. will post 4.44 EPS for the current year.

Kroger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, August 15th. This is an increase from Kroger's previous quarterly dividend of $0.32. Kroger's dividend payout ratio (DPR) is presently 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.