True North Advisors LLC Lowers Holdings in The Kroger Co. (NYSE:KR)

Key Points

• True North Advisors LLC reduced its stake in Kroger by 15.8% during the first quarter, now holding 43,117 shares valued at approximately $2.9 million.
• Kroger reported $1.49 EPS for the last quarter, exceeding the consensus estimate of $1.45, although its revenue of $45.12 billion slightly missed analysts' expectations.
• The company declared a quarterly dividend increase to $0.35 per share, representing a 1.9% yield, with the ex-dividend date set for August 15th.

True North Advisors LLC trimmed its position in shares of The Kroger Co. (NYSE:KR - Free Report) by 15.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,117 shares of the company's stock after selling 8,100 shares during the period. True North Advisors LLC's holdings in Kroger were worth $2,919,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. IFC Advisors LLC raised its position in Kroger by 1.7% during the 1st quarter. IFC Advisors LLC now owns 8,642 shares of the company's stock valued at $585,000 after purchasing an additional 142 shares in the last quarter. Rothschild Investment LLC raised its position in shares of Kroger by 2.0% in the 1st quarter. Rothschild Investment LLC now owns 8,049 shares of the company's stock worth $545,000 after acquiring an additional 155 shares in the last quarter. Gratus Wealth Advisors LLC raised its position in shares of Kroger by 1.6% in the 1st quarter. Gratus Wealth Advisors LLC now owns 11,182 shares of the company's stock worth $757,000 after acquiring an additional 174 shares in the last quarter. 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 acquiring an additional 175 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC raised its position in shares of Kroger by 2.8% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 7,187 shares of the company's stock worth $486,000 after acquiring an additional 198 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Jefferies Financial Group set a $83.00 price target on Kroger and gave the stock a "buy" rating in a research report on Monday, June 23rd. Guggenheim boosted their target price on Kroger from $73.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Melius Research upgraded Kroger from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Telsey Advisory Group restated an "outperform" rating and set a $82.00 target price (up from $73.00) on shares of Kroger in a research note on Friday, June 20th. Finally, UBS Group restated a "neutral" rating and set a $74.00 target price (up from $66.00) on shares of Kroger in a research note on Monday, June 23rd. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Kroger currently has an average rating of "Hold" and a consensus price target of $70.16.

Insider Buying and Selling at Kroger

In other news, EVP Yael Cosset sold 71,224 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president directly owned 139,124 shares in the company, valued at $10,224,222.76. This 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 is available at this link. Also, EVP Mary Ellen Adcock sold 34,250 shares of the company's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $71.16, for a total value 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 ninety days, insiders have sold 198,948 shares of company stock valued at $14,422,926. 0.44% of the stock is owned by insiders.

Kroger Price Performance

NYSE KR traded up $0.13 during trading hours on Monday, reaching $74.37. The company's stock had a trading volume of 4,195,935 shares, compared to its average volume of 6,201,024. The firm has a market capitalization of $49.15 billion, a price-to-earnings ratio of 20.26, a P/E/G ratio of 2.37 and a beta of 0.59. The Kroger Co. has a 1-year low of $50.69 and a 1-year high of $74.90. 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 50-day moving average is $70.06 and its two-hundred day moving average is $68.09.

Kroger (NYSE:KR - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $45.12 billion during the quarter, compared to analysts' expectations of $45.35 billion. Kroger had a return on equity of 34.71% and a net margin of 1.89%. Kroger's quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.43 EPS. On average, equities analysts predict that The Kroger Co. will post 4.44 EPS for the current 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 issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, August 15th. This is an increase from Kroger's previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.9%. Kroger's payout ratio is currently 34.88%.

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.