The Kroger Co. (NYSE:KR) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. trimmed its position in shares of The Kroger Co. (NYSE:KR - Free Report) by 49.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 339,863 shares of the company's stock after selling 338,076 shares during the quarter. Pinebridge Investments L.P.'s holdings in Kroger were worth $20,783,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in KR. Altrinsic Global Advisors LLC raised its holdings in Kroger by 1.1% in the fourth quarter. Altrinsic Global Advisors LLC now owns 238,442 shares of the company's stock valued at $14,581,000 after acquiring an additional 2,687 shares in the last quarter. Aldebaran Financial Inc. acquired a new stake in Kroger in the fourth quarter valued at approximately $221,000. Stifel Financial Corp raised its holdings in Kroger by 0.9% in the fourth quarter. Stifel Financial Corp now owns 679,238 shares of the company's stock valued at $41,536,000 after acquiring an additional 6,018 shares in the last quarter. OneDigital Investment Advisors LLC raised its holdings in Kroger by 1.8% in the fourth quarter. OneDigital Investment Advisors LLC now owns 26,257 shares of the company's stock valued at $1,606,000 after acquiring an additional 460 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its holdings in Kroger by 29.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 155,301 shares of the company's stock valued at $9,500,000 after acquiring an additional 35,265 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Transactions at Kroger

In related news, VP Brian W. Nichols sold 1,300 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $66.71, for a total transaction of $86,723.00. Following the sale, the vice president now owns 12,090 shares in the company, valued at approximately $806,523.90. This trade represents a 9.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christine S. Wheatley sold 30,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $72.07, for a total transaction of $2,162,100.00. Following the sale, the executive vice president now owns 97,737 shares in the company, valued at approximately $7,043,905.59. This trade represents a 23.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 334,923 shares of company stock valued at $22,867,124 in the last 90 days. 1.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on KR shares. Morgan Stanley raised their target price on shares of Kroger from $62.00 to $65.00 and gave the company an "equal weight" rating in a report on Tuesday, January 21st. Guggenheim increased their price target on shares of Kroger from $71.00 to $73.00 and gave the company a "buy" rating in a research note on Thursday, April 3rd. Citigroup increased their price target on shares of Kroger from $61.00 to $65.00 and gave the company a "neutral" rating in a research note on Friday, March 7th. JPMorgan Chase & Co. increased their price target on shares of Kroger from $71.00 to $72.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Finally, Telsey Advisory Group restated an "outperform" rating and set a $73.00 target price on shares of Kroger in a research report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Kroger has an average rating of "Moderate Buy" and a consensus price target of $66.50.

Kroger Price Performance

Kroger stock traded up $0.61 during midday trading on Tuesday, reaching $70.98. The company's stock had a trading volume of 1,690,697 shares, compared to its average volume of 5,528,740. The Kroger Co. has a fifty-two week low of $49.04 and a fifty-two week high of $73.63. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.07 and a current ratio of 1.54. The stock's 50 day simple moving average is $66.88 and its 200 day simple moving average is $62.50. The firm has a market capitalization of $46.91 billion, a PE ratio of 18.79, a P/E/G ratio of 2.85 and a beta of 0.60.

Kroger (NYSE:KR - Get Free Report) last released its earnings results on Thursday, March 6th. The company reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.05. Kroger had a return on equity of 27.73% and a net margin of 1.85%. The company had revenue of $34.31 billion during the quarter, compared to the consensus estimate of $34.96 billion. On average, equities research analysts forecast that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Thursday, May 15th. Kroger's dividend payout ratio (DPR) is presently 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.