Canopy Partners LLC Has $5.67 Million Position in The Kroger Co. (NYSE:KR)

Canopy Partners LLC trimmed its position in The Kroger Co. (NYSE:KR) by 18.8% during the first quarter, HoldingsChannel.com reports. The fund owned 83,699 shares of the company’s stock after selling 19,414 shares during the period. Kroger makes up approximately 2.2% of Canopy Partners LLC’s investment portfolio, making the stock its 12th biggest holding. Canopy Partners LLC’s holdings in Kroger were worth $5,666,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of KR. Steadfast Capital Management LP acquired a new position in shares of Kroger in the fourth quarter valued at approximately $277,989,000. Junto Capital Management LP bought a new stake in Kroger in the 4th quarter valued at approximately $264,207,000. Alyeska Investment Group L.P. bought a new stake in shares of Kroger in the fourth quarter worth $123,829,000. FMR LLC grew its position in Kroger by 39.1% in the fourth quarter. FMR LLC now owns 7,054,824 shares of the company’s stock valued at $431,402,000 after purchasing an additional 1,981,259 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Kroger by 7,363.9% in the 1st quarter. GAMMA Investing LLC now owns 1,706,397 shares of the company’s stock valued at $115,506,000 after buying an additional 1,683,535 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

KR has been the subject of several analyst reports. Wall Street Zen upgraded Kroger from a “buy” rating to a “strong-buy” rating in a report on Friday, July 18th. JPMorgan Chase & Co. boosted their price target on Kroger from $72.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Telsey Advisory Group reiterated an “outperform” rating and set a $82.00 price objective (up previously from $73.00) on shares of Kroger in a research note on Friday, June 20th. Barclays initiated coverage on shares of Kroger in a report on Monday, July 21st. They set an “equal weight” rating and a $75.00 target price on the stock. Finally, Evercore ISI dropped their price objective on Kroger from $76.00 to $75.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 17th. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $70.16.

Insider Transactions at Kroger

In related news, EVP Gabriel Arreaga sold 37,960 shares of the firm’s stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $72.44, for a total value of $2,749,822.40. Following the completion of the transaction, the executive vice president owned 75,218 shares in the company, valued at $5,448,791.92. This trade represents a 33.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Yael Cosset sold 71,224 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $10,224,222.76. This trade represents a 33.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 198,948 shares of company stock valued at $14,422,926. 0.44% of the stock is currently owned by corporate insiders.

Kroger Stock Down 3.0%

Shares of KR opened at $69.32 on Tuesday. The firm has a 50 day simple moving average of $69.31 and a two-hundred day simple moving average of $67.18. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.95 and a quick ratio of 0.53. The Kroger Co. has a one year low of $50.69 and a one year high of $74.11. The company has a market cap of $45.81 billion, a P/E ratio of 18.89, a P/E/G ratio of 2.28 and a beta of 0.59.

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

Kroger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, August 15th. This represents a $1.40 dividend on an annualized basis and a yield of 2.02%. This is a positive change from Kroger’s previous quarterly dividend of $0.32. Kroger’s payout ratio is currently 38.15%.

Kroger 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.