The Kroger Co. (NYSE:KR) Stock Position Lowered by Prudential PLC

Key Points

• Prudential PLC reduced its stake in Kroger by 29.1%, owning 11,044 shares valued at $748,000 after selling 4,525 shares.
• Kroger recently announced a quarterly dividend increase to $0.35, resulting in an annualized yield of 2.0%.
• The company's latest earnings report showed an EPS of $1.49, slightly above analysts' expectations, despite a 0.3% decline in revenue year-over-year.

Prudential PLC lessened its position in The Kroger Co. (NYSE:KR - Free Report) by 29.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,044 shares of the company's stock after selling 4,525 shares during the quarter. Prudential PLC's holdings in Kroger were worth $748,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Resona Asset Management Co. Ltd. lifted its position in shares of Kroger by 6.1% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 308,459 shares of the company's stock valued at $20,844,000 after acquiring an additional 17,834 shares in the last quarter. Anfield Capital Management LLC lifted its position in shares of Kroger by 89,583.3% in the 1st quarter. Anfield Capital Management LLC now owns 21,524 shares of the company's stock valued at $1,457,000 after acquiring an additional 21,500 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in shares of Kroger in the 1st quarter valued at approximately $78,000. HighTower Advisors LLC lifted its position in shares of Kroger by 0.8% in the 1st quarter. HighTower Advisors LLC now owns 222,350 shares of the company's stock valued at $15,051,000 after acquiring an additional 1,840 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in shares of Kroger by 9.2% in the 1st quarter. Public Sector Pension Investment Board now owns 87,592 shares of the company's stock valued at $5,929,000 after acquiring an additional 7,353 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Kroger Stock Performance

Shares of KR opened at $69.67 on Friday. The company's fifty day moving average is $70.40 and its 200-day moving average is $68.27. The Kroger Co. has a 12 month low of $50.69 and a 12 month high of $74.90. The firm has a market cap of $46.04 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 2.21 and a beta of 0.59. The company has a quick ratio of 0.53, a current ratio of 0.95 and a debt-to-equity ratio of 1.92.

Kroger (NYSE:KR - Get Free Report) last posted its earnings results on Friday, June 20th. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.04. Kroger had a net margin of 1.89% and a return on equity of 34.71%. The business had revenue of $45.12 billion for the quarter, compared to analyst estimates of $45.35 billion. During the same period last year, the business posted $1.43 EPS. Kroger's revenue was down .3% compared to the same quarter last year. Equities analysts expect that The Kroger Co. will post 4.44 EPS for the current fiscal year.

Kroger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, August 15th. This is a boost from Kroger's previous quarterly dividend of $0.32. Kroger's dividend payout ratio (DPR) is 34.88%.

Analysts Set New Price Targets

KR has been the subject of several research analyst reports. Guggenheim upped their price target on shares of Kroger from $73.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Barclays began coverage on shares of Kroger in a research report on Monday, July 21st. They issued an "equal weight" rating and a $75.00 target price for the company. Morgan Stanley set a $76.00 target price on shares of Kroger and gave the stock an "equal weight" rating in a research report on Monday, June 23rd. Melius upgraded shares of Kroger from a "sell" rating to a "hold" rating and set a $70.00 target price for the company in a research report on Tuesday, May 20th. Finally, UBS Group reiterated a "neutral" rating and issued a $74.00 target price (up previously from $66.00) on shares of Kroger in a research report on Monday, June 23rd. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $70.53.

Insiders Place Their Bets

In related news, Director Clyde R. Moore sold 26,814 shares of the firm's stock in a transaction on Friday, July 11th. The shares were 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 in the company, valued at approximately $6,989,581.50. This trade represents a 21.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Yael Cosset sold 71,224 shares of the firm's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $73.49, for a total transaction of $5,234,251.76. Following the completion of the transaction, the executive vice president owned 139,124 shares in the company, valued at $10,224,222.76. The trade was a 33.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 198,948 shares of company stock worth $14,422,926 in the last ninety days. 0.44% of the stock is owned by insiders.

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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