Truist Financial Corp Trims Holdings in The Kroger Co. (NYSE:KR)

Truist Financial Corp cut its holdings in shares of The Kroger Co. (NYSE:KR - Free Report) by 18.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 188,339 shares of the company's stock after selling 42,797 shares during the quarter. Truist Financial Corp's holdings in Kroger were worth $8,609,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of KR. Adage Capital Partners GP L.L.C. purchased a new position in shares of Kroger during the third quarter worth $42,220,000. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Kroger during the 4th quarter valued at about $39,619,000. Mackenzie Financial Corp grew its position in Kroger by 378.8% in the 4th quarter. Mackenzie Financial Corp now owns 765,445 shares of the company's stock valued at $34,988,000 after acquiring an additional 605,591 shares in the last quarter. International Assets Investment Management LLC increased its stake in Kroger by 4,810.7% during the fourth quarter. International Assets Investment Management LLC now owns 567,829 shares of the company's stock worth $25,955,000 after purchasing an additional 556,266 shares during the period. Finally, Barclays PLC lifted its position in shares of Kroger by 30.2% during the third quarter. Barclays PLC now owns 2,364,536 shares of the company's stock worth $105,814,000 after purchasing an additional 548,240 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Kroger Stock Down 0.6 %

Shares of NYSE KR traded down $0.31 during mid-day trading on Friday, reaching $54.78. The company had a trading volume of 4,332,085 shares, compared to its average volume of 4,868,179. The Kroger Co. has a 52-week low of $42.10 and a 52-week high of $58.34. The stock has a market cap of $39.53 billion, a P/E ratio of 18.51, a PEG ratio of 2.55 and a beta of 0.49. The company has a current ratio of 0.81, a quick ratio of 0.36 and a debt-to-equity ratio of 1.04. The firm has a 50 day simple moving average of $54.83 and a two-hundred day simple moving average of $48.54.

Kroger (NYSE:KR - Get Free Report) last posted its earnings results on Thursday, March 7th. The company reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.21. The business had revenue of $37.06 billion for the quarter, compared to analysts' expectations of $37.07 billion. Kroger had a return on equity of 31.44% and a net margin of 1.44%. The business's revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.99 earnings per share. Sell-side analysts predict that The Kroger Co. will post 4.43 earnings per share for the current year.

Kroger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.12%. Kroger's dividend payout ratio (DPR) is presently 39.19%.

Analysts Set New Price Targets

Several analysts have recently issued reports on KR shares. Guggenheim increased their price objective on Kroger from $60.00 to $61.00 and gave the company a "buy" rating in a research note on Tuesday, March 19th. Wells Fargo & Company upgraded Kroger from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $58.00 to $65.00 in a research note on Tuesday, April 16th. Evercore ISI cut their target price on shares of Kroger from $63.00 to $62.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 16th. BNP Paribas reiterated an "underperform" rating and issued a $48.00 price target on shares of Kroger in a research note on Monday, April 8th. Finally, Telsey Advisory Group reissued an "outperform" rating and issued a $62.00 price objective on shares of Kroger in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $55.17.

Insider Activity

In other news, SVP Valerie L. Jabbar sold 15,000 shares of the company's stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $55.52, for a total value of $832,800.00. Following the completion of the sale, the senior vice president now directly owns 77,696 shares of the company's stock, valued at $4,313,681.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Kroger news, CFO Todd A. Foley sold 6,616 shares of the business's stock in a transaction on Friday, April 26th. The shares were sold at an average price of $55.69, for a total value of $368,445.04. Following the transaction, the chief financial officer now directly owns 46,958 shares of the company's stock, valued at approximately $2,615,091.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Valerie L. Jabbar sold 15,000 shares of the firm's stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $55.52, for a total transaction of $832,800.00. Following the completion of the sale, the senior vice president now owns 77,696 shares of the company's stock, valued at approximately $4,313,681.92. The disclosure for this sale can be found here. Insiders have sold 55,796 shares of company stock valued at $3,118,767 in the last ninety days. 1.38% of the stock is currently owned by company 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.