The Kroger Co. (NYSE:KR) Shares Sold by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its stake in Kroger by 24.6%, owning 40,218 shares worth approximately $2.72 million after selling 13,125 shares in the first quarter.
• Kroger declared a quarterly dividend increase to $0.35 per share, payable on September 1st, representing an annualized yield of 2.0%.
• Analysts have shown mixed ratings on Kroger, with price targets ranging from $67.00 to $83.00, while the stock traded down 4.3% on the day of reporting.

Gulf International Bank UK Ltd lowered its stake in shares of The Kroger Co. (NYSE:KR - Free Report) by 24.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,218 shares of the company's stock after selling 13,125 shares during the quarter. Gulf International Bank UK Ltd's holdings in Kroger were worth $2,722,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Accent Capital Management LLC acquired a new position in Kroger in the 1st quarter worth approximately $25,000. Transce3nd LLC acquired a new position in Kroger in the 4th quarter worth approximately $28,000. Garde Capital Inc. acquired a new position in Kroger in the 1st quarter worth approximately $31,000. Sound Income Strategies LLC increased its holdings 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 buying an additional 175 shares during the period. Finally, GKV Capital Management Co. Inc. acquired a new stake in shares of Kroger during the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Activity

In other Kroger news, Director Clyde R. Moore sold 26,814 shares of the company's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $70.50, for a total value of $1,890,387.00. Following the transaction, the director directly owned 99,143 shares of the company's stock, valued at $6,989,581.50. This represents a 21.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Yael Cosset sold 71,224 shares of the company's 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 sale, the executive vice president owned 139,124 shares of the company's stock, valued at approximately $10,224,222.76. This trade represents a 33.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 198,948 shares of company stock valued at $14,422,926 in the last ninety days. Corporate insiders own 0.44% of the company's stock.

Kroger Trading Down 4.3%

NYSE:KR opened at $70.36 on Thursday. The Kroger Co. has a 12-month low of $50.69 and a 12-month high of $74.90. The firm has a market capitalization of $46.50 billion, a P/E ratio of 19.17, a P/E/G ratio of 2.35 and a beta of 0.59. 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 business has a 50 day simple moving average of $70.27 and a 200 day simple moving average of $68.15.

Kroger (NYSE:KR - Get Free Report) last announced 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. The company had revenue of $45.12 billion during the quarter, compared to analyst estimates of $45.35 billion. Kroger had a return on equity of 34.71% and a net margin of 1.89%. The firm's quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.43 EPS. Equities research analysts predict that The Kroger Co. will post 4.44 EPS for the current year.

Kroger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Kroger's previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 2.0%. Kroger's payout ratio is presently 38.15%.

Wall Street Analyst Weigh In

KR has been the subject of several recent analyst reports. UBS Group reissued a "neutral" rating and issued a $74.00 price target (up previously from $66.00) on shares of Kroger in a report on Monday, June 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Kroger from $57.00 to $67.00 and gave the stock a "hold" rating in a report on Monday, June 23rd. Wall Street Zen lowered shares of Kroger from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Barclays initiated coverage on shares of Kroger in a report on Monday, July 21st. They issued an "equal weight" rating and a $75.00 price target for the company. Finally, Jefferies Financial Group set a $83.00 price target on shares of Kroger and gave the stock a "buy" rating in a report on Monday, June 23rd. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $70.53.

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.

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