US Bancorp DE Decreases Position 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 reduced its holdings in shares of The Kroger Co. (NYSE:KR - Free Report) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 616,156 shares of the company's stock after selling 4,947 shares during the quarter. US Bancorp DE owned 0.09% of Kroger worth $41,708,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Brighton Jones LLC boosted its holdings in Kroger by 27.3% during the fourth quarter. Brighton Jones LLC now owns 15,733 shares of the company's stock worth $962,000 after purchasing an additional 3,373 shares during the last quarter. Trexquant Investment LP purchased a new position in Kroger during the fourth quarter worth about $801,000. Meeder Advisory Services Inc. boosted its holdings in Kroger by 22.2% during the fourth quarter. Meeder Advisory Services Inc. now owns 12,281 shares of the company's stock worth $751,000 after purchasing an additional 2,227 shares during the last quarter. Cinctive Capital Management LP purchased a new position in Kroger during the fourth quarter worth about $1,288,000. Finally, OneAscent Financial Services LLC boosted its holdings in Kroger by 29.7% during the fourth quarter. OneAscent Financial Services LLC now owns 5,632 shares of the company's stock worth $344,000 after purchasing an additional 1,289 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Kroger

In other news, EVP Mary Ellen Adcock sold 34,250 shares of the firm's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $71.16, for a total transaction of $2,437,230.00. Following the sale, the executive vice president owned 184,473 shares in the company, valued at approximately $13,127,098.68. This trade represents a 15.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Clyde R. Moore sold 26,814 shares of Kroger stock in a transaction on Friday, July 11th. The stock was sold at an average price of $70.50, for a total transaction of $1,890,387.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 198,948 shares of company stock valued at $14,422,926 in the last quarter. 0.44% of the stock is currently owned by company insiders.

Kroger Stock Performance

Shares of NYSE KR traded up $1.89 during midday trading on Wednesday, hitting $73.64. The company's stock had a trading volume of 2,830,184 shares, compared to its average volume of 7,079,263. The stock has a fifty day moving average price of $69.55 and a 200 day moving average price of $67.60. The Kroger Co. has a one year low of $50.69 and a one year high of $74.11. The company has a current ratio of 0.95, a quick ratio of 0.53 and a debt-to-equity ratio of 1.92. The firm has a market capitalization of $48.66 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 2.28 and a beta of 0.59.

Kroger (NYSE:KR - Get Free Report) last issued its quarterly earnings data on Friday, June 20th. The company reported $1.49 EPS for the quarter, beating the consensus estimate 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 net margin of 1.89% and a return on equity of 34.71%. Kroger's revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.43 earnings per share. On average, research analysts forecast that The Kroger Co. will post 4.44 EPS for the current fiscal year.

Kroger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be paid 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 1.9%. The ex-dividend date of this dividend is Friday, August 15th. Kroger's dividend payout ratio is presently 34.88%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wall Street Zen cut shares of Kroger from a "strong-buy" rating to a "buy" rating in a report on Saturday. JPMorgan Chase & Co. lifted their price objective on shares of Kroger from $72.00 to $82.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. 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. Barclays started coverage on shares of Kroger in a research report on Monday, July 21st. They issued an "equal weight" rating and a $75.00 price objective on the stock. Finally, Guggenheim lifted 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. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $70.16.

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.