Allianz Asset Management GmbH Sells 2,127,354 Shares of The Kroger Co. (NYSE:KR)

Allianz Asset Management GmbH lowered its holdings in shares of The Kroger Co. (NYSE:KR - Free Report) by 40.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,073,271 shares of the company's stock after selling 2,127,354 shares during the period. Allianz Asset Management GmbH owned about 0.47% of Kroger worth $208,030,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position 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 valued at $5,027,979,000 after purchasing an additional 773,182 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Kroger by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 16,436,688 shares of the company's stock worth $1,002,479,000 after acquiring an additional 416,962 shares during the period. Dimensional Fund Advisors LP boosted its stake in Kroger by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 14,113,596 shares of the company's stock valued at $863,060,000 after buying an additional 120,250 shares during the period. Norges Bank bought a new stake in Kroger during the fourth quarter valued at $598,390,000. Finally, Northern Trust Corp raised its position in Kroger by 13.3% during the fourth quarter. Northern Trust Corp now owns 7,829,401 shares of the company's stock valued at $478,768,000 after purchasing an additional 916,230 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Kroger Stock Performance

Shares of KR traded up $0.63 during trading hours on Tuesday, hitting $72.65. The stock had a trading volume of 6,220,395 shares, compared to its average volume of 5,938,816. The stock has a fifty day moving average price of $68.86 and a 200 day moving average price of $66.67. The Kroger Co. has a 12 month low of $50.69 and a 12 month high of $74.11. 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 firm has a market capitalization of $48.01 billion, a PE ratio of 19.79, a PEG ratio of 2.28 and a beta of 0.59.

Kroger (NYSE:KR - Get Free Report) last posted its quarterly earnings data on Friday, June 20th. The company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.04. Kroger had a return on equity of 30.01% and a net margin of 1.76%. The firm had revenue of $45.12 billion during the quarter, compared to analysts' expectations of $45.35 billion. During the same quarter last year, the firm earned $1.43 EPS. The business's quarterly revenue was down .3% on a year-over-year basis. Analysts anticipate that The Kroger Co. will post 4.44 EPS for the current 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 issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.40 dividend on an annualized basis and a yield of 1.93%. This is a positive change from Kroger's previous quarterly dividend of $0.32. Kroger's payout ratio is currently 34.88%.

Insiders Place Their Bets

In related news, VP Carin L. Fike sold 16,475 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $73.79, for a total value of $1,215,690.25. Following the completion of the transaction, the vice president owned 49,360 shares of the company's stock, valued at approximately $3,642,274.40. This trade represents a 25.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gabriel Arreaga sold 37,960 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $72.44, for a total transaction of $2,749,822.40. Following the transaction, the executive vice president owned 75,218 shares in the company, valued at $5,448,791.92. This represents a 33.54% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 228,948 shares of company stock worth $16,585,026. Company insiders own 0.44% of the company's stock.

Wall Street Analyst Weigh In

KR has been the topic of a number of research analyst reports. Melius Research upgraded Kroger from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 20th. Telsey Advisory Group reiterated an "outperform" rating and issued a $82.00 price target (up previously from $73.00) on shares of Kroger in a research note on Friday, June 20th. UBS Group reaffirmed a "neutral" rating and set a $74.00 price target (up previously from $66.00) on shares of Kroger in a research note on Monday, June 23rd. Guggenheim lifted their price target on shares of Kroger from $73.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Finally, Melius raised shares of Kroger from a "sell" rating to a "hold" rating and set a $70.00 target price on the stock in a research note on Tuesday, May 20th. Ten analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Kroger currently has an average rating of "Moderate Buy" and a consensus target price of $70.25.

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.