National Bank of Canada FI Cuts Stake in The Kroger Co. (NYSE:KR)

National Bank of Canada FI lowered its position in The Kroger Co. (NYSE:KR) by 42.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 692,079 shares of the company’s stock after selling 502,058 shares during the period. National Bank of Canada FI’s holdings in Kroger were worth $39,656,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new position in shares of Kroger during the 2nd quarter worth approximately $28,000. Northwest Investment Counselors LLC acquired a new stake in shares of Kroger during the third quarter valued at about $34,000. Newbridge Financial Services Group Inc. boosted its position in shares of Kroger by 218.8% during the second quarter. Newbridge Financial Services Group Inc. now owns 714 shares of the company’s stock worth $36,000 after buying an additional 490 shares during the period. Harbor Capital Advisors Inc. purchased a new position in shares of Kroger in the third quarter valued at approximately $40,000. Finally, ORG Partners LLC purchased a new position in Kroger in the second quarter valued at $42,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Kroger Stock Performance

NYSE KR opened at $59.23 on Monday. The firm has a market cap of $42.85 billion, a P/E ratio of 15.67, a P/E/G ratio of 0.93 and a beta of 0.48. The Kroger Co. has a 52-week low of $43.51 and a 52-week high of $61.37. The business’s 50-day moving average price is $57.81 and its 200 day moving average price is $54.62. 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 announced its earnings results on Thursday, December 5th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.01. Kroger had a return on equity of 28.54% and a net margin of 1.86%. The company had revenue of $33.63 billion for the quarter, compared to the consensus estimate of $34.19 billion. During the same period last year, the business posted $0.95 EPS. The company’s revenue was down 1.0% on a year-over-year basis. On average, equities research analysts expect that The Kroger Co. will post 4.45 earnings per share for the current year.

Kroger Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 15th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.16%. Kroger’s payout ratio is currently 33.86%.

Insider Transactions at Kroger

In other Kroger news, VP Carin L. Fike sold 3,010 shares of the firm’s stock in a transaction dated 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 directly owns 47,593 shares of the company’s stock, valued at $2,644,743.01. This trade represents a 5.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brian W. Nichols sold 6,922 shares of the 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 directly owns 14,063 shares in the company, valued at approximately $784,715.40. This represents a 32.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,932 shares of company stock worth $721,243. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Guggenheim raised their price objective on shares of Kroger from $61.00 to $63.00 and gave the company a “buy” rating in a report on Monday, November 25th. JPMorgan Chase & Co. raised their target price on Kroger from $59.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday. Melius Research started coverage on Kroger in a report on Monday, September 23rd. They issued a “hold” rating and a $55.00 price target for the company. BMO Capital Markets downgraded shares of Kroger from an “outperform” rating to a “market perform” rating and set a $60.00 price objective for the company. in a research report on Tuesday, December 3rd. Finally, Morgan Stanley increased their target price on shares of Kroger from $57.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.33.

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.