GAMMA Investing LLC Buys 1,683,535 Shares of The Kroger Co. (NYSE:KR)

GAMMA Investing LLC boosted its stake in The Kroger Co. (NYSE:KR - Free Report) by 7,363.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,706,397 shares of the company's stock after buying an additional 1,683,535 shares during the quarter. GAMMA Investing LLC owned approximately 0.24% of Kroger worth $115,506,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KR. Vanguard Group Inc. increased its holdings in shares of Kroger by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 82,223,697 shares of the company's stock worth $5,027,979,000 after buying an additional 773,182 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Kroger by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 16,436,688 shares of the company's stock worth $1,002,479,000 after buying an additional 416,962 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Kroger by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 14,113,596 shares of the company's stock worth $863,060,000 after buying an additional 120,250 shares during the last quarter. Norges Bank acquired a new stake in shares of Kroger during the 4th quarter worth approximately $598,390,000. Finally, Northern Trust Corp increased its holdings in shares of Kroger by 13.3% during the 4th quarter. Northern Trust Corp now owns 7,829,401 shares of the company's stock worth $478,768,000 after buying an additional 916,230 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Kroger Trading Down 0.3%

Kroger stock traded down $0.19 during trading hours on Thursday, reaching $66.15. 4,653,665 shares of the company's stock traded hands, compared to its average volume of 5,734,630. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.07 and a current ratio of 1.54. The Kroger Co. has a fifty-two week low of $49.04 and a fifty-two week high of $73.63. The firm has a market capitalization of $43.72 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 2.85 and a beta of 0.58. The firm's 50 day moving average is $69.15 and its 200-day moving average is $64.72.

Kroger (NYSE:KR - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.05. The company had revenue of $34.31 billion during the quarter, compared to analysts' expectations of $34.96 billion. Kroger had a return on equity of 27.73% and a net margin of 1.85%. On average, analysts predict that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Thursday, May 15th. Kroger's payout ratio is presently 34.88%.

Insider Activity

In related news, CFO Todd A. Foley sold 28,105 shares of Kroger stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $66.62, for a total value of $1,872,355.10. Following the transaction, the chief financial officer now directly owns 52,861 shares of the company's stock, valued at $3,521,599.82. The trade was a 34.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Yael Cosset sold 115,149 shares of Kroger stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $68.08, for a total value of $7,839,343.92. Following the completion of the transaction, the senior vice president now directly owns 139,338 shares in the company, valued at approximately $9,486,131.04. This represents a 45.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 334,923 shares of company stock valued at $22,867,124. 0.44% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Melius Research upgraded shares of Kroger from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 20th. Evercore ISI boosted their price target on shares of Kroger from $73.00 to $74.00 and gave the company an "outperform" rating in a research report on Tuesday, March 11th. JPMorgan Chase & Co. boosted 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. Roth Capital set a $58.00 price objective on shares of Kroger in a research note on Thursday, March 6th. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $73.00 price target on shares of Kroger in a research note on Monday, March 3rd. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $68.06.

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.