Nuveen Asset Management LLC Raises Stock Holdings in The Kroger Co. (NYSE:KR)

Nuveen Asset Management LLC grew its holdings in The Kroger Co. (NYSE:KR) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,125,988 shares of the company’s stock after buying an additional 178,580 shares during the quarter. Nuveen Asset Management LLC owned 0.43% of Kroger worth $191,154,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Millstone Evans Group LLC acquired a new position in shares of Kroger during the 4th quarter valued at about $25,000. Whipplewood Advisors LLC acquired a new position in shares of Kroger in the 4th quarter valued at $26,000. TCTC Holdings LLC acquired a new position in shares of Kroger in the 4th quarter worth approximately $27,000. Transce3nd LLC purchased a new position in shares of Kroger during the fourth quarter worth $28,000. Finally, Lee Danner & Bass Inc. acquired a new position in Kroger during the 4th quarter worth about $32,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Christine S. Wheatley sold 30,000 shares of the company’s stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $72.07, for a total value of $2,162,100.00. Following the completion of the sale, the executive vice president now owns 97,737 shares in the company, valued at $7,043,905.59. This represents a 23.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian W. Nichols sold 1,000 shares of the firm’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $72.03, for a total transaction of $72,030.00. Following the transaction, the vice president now directly owns 10,473 shares in the company, valued at $754,370.19. The trade was a 8.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 334,923 shares of company stock valued at $22,867,124. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on KR. Telsey Advisory Group reiterated an “outperform” rating and set a $73.00 price target on shares of Kroger in a research note on Monday, March 3rd. Guggenheim upped their target price on shares of Kroger from $71.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, April 3rd. Melius Research cut shares of Kroger from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 1st. Morgan Stanley upped their price objective on Kroger from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Finally, Citigroup lifted their target price on Kroger from $61.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, March 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.06.

Kroger Stock Performance

Shares of Kroger stock opened at $67.63 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 1.74. The Kroger Co. has a 52 week low of $49.04 and a 52 week high of $73.63. The firm’s 50 day moving average is $68.51 and its two-hundred day moving average is $63.69. The firm has a market capitalization of $44.70 billion, a P/E ratio of 17.89, a P/E/G ratio of 2.85 and a beta of 0.62.

Kroger (NYSE:KR) last posted 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 net margin of 1.85% and a return on equity of 27.73%. The firm had revenue of $34.31 billion for the quarter, compared to the consensus estimate of $34.96 billion. Research analysts forecast that The Kroger Co. will post 4.44 EPS for the current fiscal year.

Kroger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Thursday, May 15th. Kroger’s payout ratio is 34.88%.

Kroger Company 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.