Tredje AP fonden Invests $54.11 Million in The Kroger Co. (NYSE:KR)

Key Points

• Tredje AP fonden acquired 799,309 new shares in The Kroger Co., valued at approximately $54.1 million, increasing its stake to 0.12% according to the latest SEC filing.
• Kroger recently announced a dividend increase to $0.35 per share, surpassing the previous dividend of $0.32, with a yield of 2.02%.
• Equity analysts have shown a range of sentiments on Kroger's stock, with target price estimates ranging from $74.00 to $82.00, indicating a generally positive outlook among nine analysts rating it as a "buy" or "outperform."

Tredje AP fonden bought a new stake in The Kroger Co. (NYSE:KR - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 799,309 shares of the company's stock, valued at approximately $54,105,000. Tredje AP fonden owned about 0.12% of Kroger as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in KR. Transce3nd LLC purchased a new position in Kroger during the fourth quarter worth about $28,000. Garde Capital Inc. acquired a new position in Kroger during the 1st quarter worth approximately $31,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Kroger during the 4th quarter worth approximately $34,000. Sound Income Strategies LLC lifted its holdings in shares of Kroger by 46.7% in the 1st quarter. Sound Income Strategies LLC now owns 550 shares of the company's stock valued at $37,000 after buying an additional 175 shares during the period. Finally, Accredited Wealth Management LLC purchased a new stake in shares of Kroger in the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Wall Street Analyst Weigh In

KR has been the subject of a number of recent analyst reports. Morgan Stanley set a $76.00 target price on Kroger and gave the company an "equal weight" rating in a report on Monday, June 23rd. Melius raised shares of Kroger from a "sell" rating to a "hold" rating and set a $70.00 price objective on the stock in a report on Tuesday, May 20th. UBS Group restated a "neutral" rating and set a $74.00 target price (up from $66.00) on shares of Kroger in a research report on Monday, June 23rd. Guggenheim lifted 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. Finally, Barclays assumed coverage on Kroger in a report on Monday, July 21st. They issued an "equal weight" rating and a $75.00 price target on the stock. Ten equities 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. Based on data from MarketBeat, Kroger presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.16.

Insider Transactions at Kroger

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 transaction of $1,215,690.25. Following the completion of the sale, the vice president directly owned 49,360 shares in the company, valued at approximately $3,642,274.40. This trade represents a 25.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Clyde R. Moore sold 3,810 shares of the company's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $71.61, for a total value of $272,834.10. Following the sale, the director directly owned 85,850 shares of the company's stock, valued at approximately $6,147,718.50. This represents a 4.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 198,948 shares of company stock worth $14,422,926 over the last quarter. Insiders own 0.44% of the company's stock.

Kroger Stock Up 1.9%

NYSE KR traded up $1.32 during mid-day trading on Friday, reaching $71.42. 6,887,648 shares of the company's stock traded hands, compared to its average volume of 5,835,809. 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 Kroger Co. has a 1-year low of $50.69 and a 1-year high of $74.11. The company has a fifty day simple moving average of $69.36 and a 200-day simple moving average of $67.28. The company has a market cap of $47.20 billion, a price-to-earnings ratio of 19.46, a P/E/G ratio of 2.24 and a beta of 0.59.

Kroger (NYSE:KR - Get Free Report) last announced its quarterly earnings data on Friday, June 20th. The company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.04. The business had revenue of $45.12 billion during the quarter, compared to the consensus estimate of $45.35 billion. Kroger had a net margin of 1.89% and a return on equity of 34.71%. The company's revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.43 EPS. As a group, equities research analysts expect that The Kroger Co. will post 4.44 EPS for the current year.

Kroger Increases Dividend

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

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.