Stevens Capital Management LP Sells 25,149 Shares of The Kroger Co. (NYSE:KR)

Key Points

• Stevens Capital Management LP has reduced its stake in The Kroger Co. (NYSE:KR) by 85%, owning 4,455 shares after selling 25,149 shares in the first quarter.
• Kroger plans to pay a quarterly dividend of $0.35 per share starting September 1st, which is an increase from the previous $0.32, representing a 1.96% yield.
• JPMorgan Chase & Co. and other brokerages have raised their price targets for Kroger stock, with the latest target being $83.00, reflecting a positive outlook on the company's performance.

Stevens Capital Management LP decreased its position in The Kroger Co. (NYSE:KR - Free Report) by 85.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,455 shares of the company's stock after selling 25,149 shares during the period. Stevens Capital Management LP's holdings in Kroger were worth $302,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Transce3nd LLC acquired a new position in shares of Kroger in the 4th quarter worth approximately $28,000. Garde Capital Inc. acquired a new position in shares of Kroger in the 1st quarter worth approximately $31,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Kroger in the 4th quarter worth approximately $34,000. Sound Income Strategies LLC grew its position in shares of Kroger by 46.7% in the 1st quarter. Sound Income Strategies LLC now owns 550 shares of the company's stock worth $37,000 after acquiring an additional 175 shares in the last quarter. Finally, Accredited Wealth Management LLC acquired a new position in Kroger during the 4th quarter valued at approximately $49,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Kroger Stock Performance

Kroger stock traded down $0.28 during trading hours on Wednesday, hitting $69.02. The stock had a trading volume of 1,635,512 shares, compared to its average volume of 7,074,725. The company has a 50-day moving average of $69.31 and a two-hundred day moving average of $67.19. The company has a quick ratio of 0.53, a current ratio of 0.95 and a debt-to-equity ratio of 1.92. The company has a market cap of $45.62 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 2.21 and a beta of 0.59. The Kroger Co. has a fifty-two week low of $50.69 and a fifty-two week high of $74.11.

Kroger (NYSE:KR - Get Free Report) last issued its earnings results on Friday, June 20th. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.04. The business had revenue of $45.12 billion during the quarter, compared to analysts' expectations of $45.35 billion. Kroger had a return on equity of 30.01% and a net margin of 1.76%. Kroger's quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.43 EPS. On average, equities research analysts anticipate that The Kroger Co. will post 4.44 EPS for the current fiscal year.

Kroger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be paid a $0.35 dividend. This is an increase from Kroger's previous quarterly dividend of $0.32. The ex-dividend date is Friday, August 15th. This represents a $1.40 annualized dividend and a dividend yield of 2.03%. Kroger's dividend payout ratio (DPR) is currently 34.88%.

Analyst Ratings Changes

KR has been the subject of a number of analyst reports. UBS Group restated a "neutral" rating and set a $74.00 price objective (up previously from $66.00) on shares of Kroger in a research report on Monday, June 23rd. Evercore ISI cut their target price on Kroger from $76.00 to $75.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 17th. Morgan Stanley set a $76.00 target price on Kroger and gave the company an "equal weight" rating in a research note on Monday, June 23rd. JPMorgan Chase & Co. lifted their target price on Kroger from $72.00 to $82.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Finally, Melius Research raised Kroger from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $70.16.

Insider Buying and Selling at Kroger

In other news, EVP Yael Cosset sold 71,224 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $73.49, for a total transaction of $5,234,251.76. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Gabriel Arreaga sold 37,960 shares of Kroger stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 75,218 shares of the company's stock, valued at approximately $5,448,791.92. The trade was a 33.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 198,948 shares of company stock valued at $14,422,926 in the last three months. Corporate insiders own 0.44% of the company's stock.

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.