Mitsubishi UFJ Asset Management Co. Ltd. Buys 160,953 Shares of The Kroger Co. (NYSE:KR)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. has increased its stake in Kroger Co. by 15.1%, owning approximately 1,227,812 shares worth $83.1 million as of the latest reporting period.
• Kroger has reported earnings per share of $1.49 for the last quarter, surpassing estimates, although revenues declined by 0.3% compared to the previous year.
• The company announced a dividend increase to $0.35 per share, up from $0.32, with a yield of 1.9%, indicating a positive outlook for investors.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in The Kroger Co. (NYSE:KR - Free Report) by 15.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,227,812 shares of the company's stock after buying an additional 160,953 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.19% of Kroger worth $83,111,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. IFC Advisors LLC grew its position in Kroger by 1.7% in the 1st quarter. IFC Advisors LLC now owns 8,642 shares of the company's stock worth $585,000 after purchasing an additional 142 shares in the last quarter. Rothschild Investment LLC grew its position in 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 purchasing an additional 155 shares in the last quarter. Gratus Wealth Advisors LLC grew its position in 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 purchasing an additional 174 shares in the last quarter. Sound Income Strategies LLC grew its position in 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 purchasing an additional 175 shares in the last quarter. Finally, Roof Eidam Maycock Peralta LLC grew its position in Kroger by 0.8% in the 1st quarter. Roof Eidam Maycock Peralta LLC now owns 23,920 shares of the company's stock worth $1,619,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Activity

In other Kroger news, VP Carin L. Fike sold 16,475 shares of the firm's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $73.79, for a total value 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. This trade represents a 25.02% 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, EVP Gabriel Arreaga sold 37,960 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $72.44, for a total transaction of $2,749,822.40. Following the completion of the sale, the executive vice president directly owned 75,218 shares in the company, valued at approximately $5,448,791.92. This trade represents a 33.54% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 198,948 shares of company stock worth $14,422,926. Corporate insiders own 0.44% of the company's stock.

Kroger Price Performance

NYSE:KR traded up $0.13 during trading hours on Monday, hitting $74.37. The stock had a trading volume of 4,195,935 shares, compared to its average volume of 7,068,940. The company has a 50 day simple moving average of $69.94 and a two-hundred day simple moving average of $67.98. 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 Kroger Co. has a one year low of $50.69 and a one year high of $74.90. 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.

Kroger (NYSE:KR - Get Free Report) last announced its quarterly earnings results on Friday, June 20th. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.45 by $0.04. Kroger had a net margin of 1.89% and a return on equity of 34.71%. The firm had revenue of $45.12 billion during the quarter, compared to the consensus estimate of $45.35 billion. During the same period last year, the firm earned $1.43 EPS. The business's quarterly revenue was down .3% compared to the same quarter last year. Research analysts forecast that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Kroger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be given a dividend of $0.35 per share. This is an increase from Kroger's previous quarterly dividend of $0.32. The ex-dividend date is Friday, August 15th. This represents a $1.40 annualized dividend and a dividend yield of 1.9%. Kroger's dividend payout ratio is 38.15%.

Analyst Upgrades and Downgrades

KR has been the subject of several research analyst reports. Evercore ISI decreased their price target on shares of Kroger from $76.00 to $75.00 and set an "outperform" rating for the company in a research note on Tuesday, June 17th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Kroger from $57.00 to $67.00 and gave the stock a "hold" rating in a research note on Monday, June 23rd. Telsey Advisory Group restated an "outperform" rating and set a $82.00 price target (up previously from $73.00) on shares of Kroger in a research note on Friday, June 20th. UBS Group restated a "neutral" rating and set a $74.00 price target (up previously from $66.00) on shares of Kroger in a research note on Monday, June 23rd. Finally, Melius raised shares of Kroger from a "sell" rating to a "hold" rating and set a $70.00 price objective for the company in a report on Tuesday, May 20th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Kroger presently has a consensus rating of "Hold" and an average price target of $70.16.

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.