Insider Selling: The Kroger Co. (NYSE:KR) SVP Sells 11,000 Shares of Stock

The Kroger Co. (NYSE:KR) SVP Kenneth C. Kimball sold 11,000 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $65.37, for a total transaction of $719,070.00. Following the completion of the transaction, the senior vice president now owns 127,106 shares in the company, valued at approximately $8,308,919.22. This trade represents a 7.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Kroger Stock Down 0.8 %

Shares of NYSE:KR traded down $0.49 during midday trading on Monday, reaching $64.91. The company’s stock had a trading volume of 651,456 shares, compared to its average volume of 5,939,993. The Kroger Co. has a 12-month low of $49.04 and a 12-month high of $68.51. The firm has a market capitalization of $46.97 billion, a P/E ratio of 17.17, a PEG ratio of 2.85 and a beta of 0.51. The firm has a 50 day moving average of $63.37 and a 200-day moving average of $59.95. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 1.74.

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

Kroger declared that its Board of Directors has initiated a share repurchase plan on Wednesday, December 11th that allows the company to buyback $7.50 billion in outstanding shares. This buyback authorization allows the company to purchase up to 16.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Kroger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.28 dividend on an annualized basis and a yield of 1.97%. Kroger’s payout ratio is currently 34.88%.

Analyst Ratings Changes

KR has been the topic of several research reports. StockNews.com cut shares of Kroger from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 14th. BMO Capital Markets increased their price target on shares of Kroger from $60.00 to $63.00 and gave the company a “market perform” rating in a research report on Thursday, December 12th. Jefferies Financial Group upgraded shares of Kroger from a “hold” rating to a “buy” rating and boosted their price objective for the company from $54.00 to $73.00 in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. increased their target price on shares of Kroger from $71.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Finally, Bank of America increased their price objective on Kroger from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Kroger currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.88.

Institutional Investors Weigh In On Kroger

Institutional investors have recently modified their holdings of the business. Millstone Evans Group LLC bought a new stake in shares of Kroger in the fourth quarter worth approximately $25,000. Whipplewood Advisors LLC bought a new stake in Kroger in the 4th quarter worth approximately $26,000. TCTC Holdings LLC purchased a new stake in Kroger during the 4th quarter valued at $27,000. Transce3nd LLC bought a new position in shares of Kroger during the 4th quarter valued at $28,000. Finally, Centricity Wealth Management LLC bought a new stake in shares of Kroger in the fourth quarter worth $32,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.