Leavell Investment Management Inc. Raises Position in The Kroger Co. (NYSE:KR)

Leavell Investment Management Inc. increased its stake in The Kroger Co. (NYSE:KR) by 31.4% during the third quarter, HoldingsChannel reports. The firm owned 7,531 shares of the company’s stock after acquiring an additional 1,800 shares during the period. Leavell Investment Management Inc.’s holdings in Kroger were worth $432,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Altshuler Shaham Ltd bought a new position in Kroger during the second quarter worth about $28,000. Northwest Investment Counselors LLC bought a new position in Kroger in the 3rd quarter worth approximately $34,000. Newbridge Financial Services Group Inc. grew its stake in Kroger by 218.8% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 714 shares of the company’s stock valued at $36,000 after buying an additional 490 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Kroger during the 3rd quarter valued at $40,000. Finally, ORG Partners LLC purchased a new stake in shares of Kroger during the second quarter worth $42,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KR. Melius Research began coverage on Kroger in a research report on Monday, September 23rd. They issued a “hold” rating and a $55.00 price target for the company. JPMorgan Chase & Co. lifted their target price on Kroger from $58.00 to $59.00 and gave the company an “overweight” rating in a report on Friday, September 13th. 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 assumed coverage on shares of Kroger in a research note on Friday, October 18th. They set a “neutral” rating and a $56.00 price objective for the company. Finally, Evercore ISI increased their target price on shares of Kroger from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $60.09.

Kroger Stock Performance

NYSE KR opened at $59.91 on Monday. The Kroger Co. has a 52-week low of $42.10 and a 52-week high of $60.24. The company has a fifty day moving average of $55.79 and a 200-day moving average of $53.99. The company has a market capitalization of $43.34 billion, a P/E ratio of 15.68, a P/E/G ratio of 0.93 and a beta of 0.48. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.46 and a current ratio of 0.87.

Kroger (NYSE:KR) last posted its quarterly earnings data on Thursday, September 12th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The firm had revenue of $33.91 billion during the quarter, compared to analysts’ expectations of $34.09 billion. Kroger had a return on equity of 28.54% and a net margin of 1.86%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 EPS. As a group, equities research analysts predict that The Kroger Co. will post 4.46 EPS for the current fiscal year.

Kroger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be issued a $0.32 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.14%. Kroger’s payout ratio is 33.51%.

Insider Activity

In related news, SVP Valerie L. Jabbar sold 3,000 shares of Kroger stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $55.91, for a total value of $167,730.00. Following the transaction, the senior vice president now owns 74,084 shares in the company, valued at $4,142,036.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related 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 value of $167,265.70. Following the transaction, the vice president now directly owns 47,593 shares of the company’s stock, valued at $2,644,743.01. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Valerie L. Jabbar sold 3,000 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $55.91, for a total transaction of $167,730.00. Following the sale, the senior vice president now directly owns 74,084 shares of the company’s stock, valued at $4,142,036.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,932 shares of company stock valued at $721,243. Corporate insiders own 1.40% of the company’s stock.

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.