Hartford Investment Management Co. Decreases Stake in The Kroger Co. (NYSE:KR)

Hartford Investment Management Co. cut its stake in shares of The Kroger Co. (NYSE:KR) by 2.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 41,795 shares of the company’s stock after selling 1,096 shares during the quarter. Hartford Investment Management Co.’s holdings in Kroger were worth $2,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Valued Wealth Advisors LLC increased its holdings in Kroger by 255.6% in the 1st quarter. Valued Wealth Advisors LLC now owns 448 shares of the company’s stock worth $26,000 after buying an additional 322 shares during the period. Hexagon Capital Partners LLC boosted its holdings in shares of Kroger by 101.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 496 shares of the company’s stock valued at $28,000 after acquiring an additional 250 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of Kroger in the second quarter worth $28,000. Palisade Asset Management LLC purchased a new position in shares of Kroger during the first quarter worth $29,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Kroger during the first quarter valued at $34,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Kroger Stock Performance

KR opened at $56.68 on Friday. The firm’s fifty day simple moving average is $54.68 and its two-hundred day simple moving average is $53.86. The Kroger Co. has a 52-week low of $42.10 and a 52-week high of $58.34. The company has a market cap of $40.91 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 0.87 and a beta of 0.47. The company has a quick ratio of 0.46, a current ratio of 0.87 and a debt-to-equity ratio of 0.96.

Kroger (NYSE:KR) last issued its quarterly earnings results on Thursday, September 12th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. Kroger had a net margin of 1.86% and a return on equity of 28.54%. The firm had revenue of $33.91 billion for the quarter, compared to analyst estimates of $34.09 billion. During the same period last year, the company posted $0.96 EPS. Kroger’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts anticipate that The Kroger Co. will post 4.46 earnings per share for the current fiscal year.

Kroger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Friday, November 15th. Kroger’s payout ratio is 43.69%.

Wall Street Analysts Forecast Growth

KR has been the topic of several analyst reports. Morgan Stanley increased their price target on Kroger from $57.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. Argus raised their target price on Kroger from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Telsey Advisory Group reissued an “outperform” rating and issued a $62.00 price target on shares of Kroger in a report on Wednesday, October 9th. BNP Paribas started coverage on shares of Kroger in a research note on Friday, October 18th. They set a “neutral” rating and a $56.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Kroger from $58.00 to $59.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Kroger presently has an average rating of “Moderate Buy” and a consensus price target of $60.09.

Insider Activity at Kroger

In other Kroger news, VP Carin L. Fike sold 3,010 shares of Kroger stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $55.57, for a total transaction of $167,265.70. Following the sale, the vice president now owns 47,593 shares of the company’s stock, valued at $2,644,743.01. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Brian W. Nichols sold 6,922 shares of Kroger stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $55.80, for a total transaction of $386,247.60. Following the transaction, the vice president now owns 14,063 shares in the company, valued at approximately $784,715.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Carin L. Fike sold 3,010 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $55.57, for a total value of $167,265.70. Following the completion of the sale, the vice president now owns 47,593 shares of the company’s stock, valued at approximately $2,644,743.01. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,932 shares of company stock valued at $721,243. 1.40% of the stock is owned by insiders.

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.