US Bancorp DE Has $41.71 Million Holdings in The Kroger Co. (NYSE:KR)

Key Points

• US Bancorp DE reduced its stake in Kroger by 0.8% during the first quarter, holding 616,156 shares valued at approximately $41.7 million.
• Kroger reported earnings of $1.49 per share for the previous quarter, exceeding analysts' estimates, but its revenue of $45.12 billion showed a slight decline of 0.3% year-over-year.
• Kroger announced an increase in its quarterly dividend from $0.32 to $0.35 per share, reflecting a yield of 2.0% and a payout ratio of 34.88%.

US Bancorp DE trimmed its stake in The Kroger Co. (NYSE:KR - Free Report) by 0.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 616,156 shares of the company's stock after selling 4,947 shares during the quarter. US Bancorp DE owned approximately 0.09% of Kroger worth $41,708,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. increased its position in Kroger by 1.7% during the first quarter. Bessemer Group Inc. now owns 12,545 shares of the company's stock worth $850,000 after buying an additional 213 shares during the last quarter. Diversified Trust Co lifted its position in shares of Kroger by 3.7% in the first quarter. Diversified Trust Co now owns 6,429 shares of the company's stock valued at $435,000 after buying an additional 229 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Kroger by 8.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 307,790 shares of the company's stock worth $20,834,000 after acquiring an additional 24,849 shares during the period. IFP Advisors Inc increased its holdings in shares of Kroger by 4.0% during the 1st quarter. IFP Advisors Inc now owns 8,967 shares of the company's stock worth $607,000 after acquiring an additional 348 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its stake in Kroger by 67.2% in the 1st quarter. Golden State Wealth Management LLC now owns 1,336 shares of the company's stock valued at $90,000 after acquiring an additional 537 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Activity

In related news, EVP Mary Ellen Adcock sold 34,250 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $71.16, for a total value of $2,437,230.00. Following the sale, the executive vice president directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gabriel Arreaga sold 37,960 shares of Kroger stock in a transaction dated 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 completion of the transaction, the executive vice president owned 75,218 shares in the company, valued at approximately $5,448,791.92. This represents a 33.54% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,948 shares of company stock valued at $14,422,926. Corporate insiders own 0.44% of the company's stock.

Kroger Price Performance

Shares of NYSE KR traded up $1.32 during mid-day trading on Friday, reaching $71.42. The company had a trading volume of 6,887,648 shares, compared to its average volume of 6,199,993. The firm has a market cap of $47.20 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 2.28 and a beta of 0.59. The business's 50-day simple moving average is $69.42 and its 200 day simple moving average is $67.42. The Kroger Co. has a one year low of $50.69 and a one year high of $74.11. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.53 and a current ratio of 0.95.

Kroger (NYSE:KR - Get Free Report) last released its 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. The firm had revenue of $45.12 billion for the quarter, compared to analyst estimates of $45.35 billion. Kroger had a net margin of 1.89% and a return on equity of 34.71%. The business's quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the firm earned $1.43 EPS. On average, research analysts predict that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Kroger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders 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. This represents a $1.40 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, August 15th. Kroger's dividend payout ratio (DPR) is presently 34.88%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Kroger from $57.00 to $67.00 and gave the stock a "hold" rating in a research report on Monday, June 23rd. Melius Research raised shares of Kroger from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 20th. Jefferies Financial Group set a $83.00 price target on shares of Kroger and gave the company a "buy" rating in a report on Monday, June 23rd. Melius upgraded shares of Kroger from a "sell" rating to a "hold" rating and set a $70.00 price objective for the company in a research report on Tuesday, May 20th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $82.00 target price (up previously from $73.00) on shares of Kroger in a research report on Friday, June 20th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $70.16.

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.