Aigen Investment Management LP Lowers Position in The Kroger Co. (NYSE:KR)

Key Points

• Aigen Investment Management LP reduced its stake in Kroger by 60.7%, selling 26,082 shares, leaving it with a total of 16,852 shares valued at approximately $1.14 million.
• Kroger's recent earnings report revealed $1.49 earnings per share, surpassing analysts' expectations of $1.45, although revenue was down 0.3% from the previous year.
• The company has declared a quarterly dividend of $0.35 per share, marking an increase from the previous dividend of $0.32, with an annual yield of 1.9%.

Aigen Investment Management LP lessened its position in shares of The Kroger Co. (NYSE:KR - Free Report) by 60.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,852 shares of the company's stock after selling 26,082 shares during the quarter. Aigen Investment Management LP's holdings in Kroger were worth $1,141,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KR. Accent Capital Management LLC purchased a new position in Kroger during the first quarter valued at $25,000. Transce3nd LLC purchased a new position in shares of Kroger in the fourth quarter worth about $28,000. Garde Capital Inc. acquired a new stake in Kroger during the first quarter worth about $31,000. Sound Income Strategies LLC increased its position in Kroger by 46.7% during the first quarter. Sound Income Strategies LLC now owns 550 shares of the company's stock worth $37,000 after purchasing an additional 175 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in Kroger during the first quarter worth about $41,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Kroger

In related news, EVP Gabriel Arreaga sold 37,960 shares of the stock in a transaction on 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 transaction, the executive vice president directly owned 75,218 shares of the company's stock, valued at $5,448,791.92. This trade represents a 33.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Clyde R. Moore sold 26,814 shares of the stock in a transaction on Friday, July 11th. The shares were sold at an average price of $70.50, for a total transaction of $1,890,387.00. Following the completion of the transaction, the director directly owned 99,143 shares in the company, valued at $6,989,581.50. This trade represents a 21.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 198,948 shares of company stock worth $14,422,926. Insiders own 0.44% of the company's stock.

Analyst Ratings Changes

KR has been the subject of several recent analyst reports. Guggenheim raised their price objective on shares of Kroger from $73.00 to $78.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Evercore ISI raised their price objective on shares of Kroger from $80.00 to $82.00 and gave the stock an "outperform" rating in a research report on Tuesday. Jefferies Financial Group set a $83.00 price objective on shares of Kroger and gave the stock a "buy" rating in a research report on Monday, June 23rd. JPMorgan Chase & Co. lifted their price target on shares of Kroger from $72.00 to $82.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $82.00 price target (up from $73.00) on shares of Kroger in a research report on Friday, June 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 MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $70.53.

Kroger Stock Up 0.9%

Kroger stock traded up $0.65 during trading on Friday, reaching $69.53. The stock had a trading volume of 1,454,359 shares, compared to its average volume of 7,087,449. The Kroger Co. has a 52-week low of $50.69 and a 52-week high of $74.90. The business has a 50 day moving average price of $70.33 and a 200 day moving average price of $68.21. The company has a quick ratio of 0.53, a current ratio of 0.95 and a debt-to-equity ratio of 1.92. The stock has a market cap of $45.95 billion, a PE ratio of 18.93, a P/E/G ratio of 2.24 and a beta of 0.59.

Kroger (NYSE:KR - Get Free Report) last issued its quarterly 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. 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 the consensus estimate of $45.35 billion. During the same quarter in the previous year, the firm earned $1.43 earnings per share. The firm's quarterly revenue was down .3% on a year-over-year basis. On average, analysts predict that The Kroger Co. will post 4.44 EPS for the current year.

Kroger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be given a $0.35 dividend. This is a positive change from Kroger's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.0%. Kroger's payout ratio is 34.88%.

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.