Sovereign Investment Advisors LLC purchased a new stake in shares of The Kroger Co. (NYSE:KR – Free Report) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 5,737 shares of the company’s stock, valued at approximately $351,000.
A number of other hedge funds also recently made changes to their positions in KR. Assetmark Inc. raised its holdings in shares of Kroger by 245.2% during the third quarter. Assetmark Inc. now owns 3,966 shares of the company’s stock valued at $227,000 after buying an additional 2,817 shares during the last quarter. GSA Capital Partners LLP raised its holdings in Kroger by 17.8% during the third quarter. GSA Capital Partners LLP now owns 8,727 shares of the company’s stock worth $500,000 after purchasing an additional 1,320 shares in the last quarter. Prime Capital Investment Advisors LLC raised its holdings in Kroger by 53.9% during the third quarter. Prime Capital Investment Advisors LLC now owns 11,042 shares of the company’s stock worth $633,000 after purchasing an additional 3,869 shares in the last quarter. Aptus Capital Advisors LLC raised its holdings in Kroger by 13.3% during the third quarter. Aptus Capital Advisors LLC now owns 5,665 shares of the company’s stock worth $325,000 after purchasing an additional 667 shares in the last quarter. Finally, Kovack Advisors Inc. raised its holdings in Kroger by 5.9% during the third quarter. Kovack Advisors Inc. now owns 6,368 shares of the company’s stock worth $365,000 after purchasing an additional 355 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.
Kroger Trading Down 1.5 %
NYSE KR opened at $65.12 on Friday. The Kroger Co. has a twelve month low of $49.04 and a twelve month high of $68.51. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.07 and a current ratio of 1.54. The stock has a market cap of $47.12 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 2.85 and a beta of 0.51. The firm’s 50 day moving average price is $62.74 and its two-hundred day moving average price is $59.47.
Kroger announced that its board has initiated a stock repurchase plan on Wednesday, December 11th that allows the company to repurchase $7.50 billion in shares. This repurchase authorization allows the company to reacquire up to 16.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
Kroger Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders 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 1.97%. The ex-dividend date is Thursday, May 15th. Kroger’s dividend payout ratio is currently 34.88%.
Insider Activity
In related news, CFO Todd A. Foley sold 16,932 shares of Kroger stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $61.44, for a total value of $1,040,302.08. Following the completion of the sale, the chief financial officer now owns 53,782 shares of the company’s stock, valued at approximately $3,304,366.08. The trade was a 23.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Yael Cosset sold 115,149 shares of Kroger stock in a transaction on Monday, March 10th. The shares were sold at an average price of $68.08, for a total transaction of $7,839,343.92. Following the completion of the sale, the senior vice president now directly owns 139,338 shares of the company’s stock, valued at approximately $9,486,131.04. The trade was a 45.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 160,186 shares of company stock worth $10,752,001 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently commented on KR shares. BMO Capital Markets boosted their target price on Kroger from $60.00 to $63.00 and gave the stock a “market perform” rating in a report on Thursday, December 12th. StockNews.com cut Kroger from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 14th. Telsey Advisory Group reissued an “outperform” rating and set a $73.00 target price on shares of Kroger in a report on Monday, March 3rd. The Goldman Sachs Group reissued a “buy” rating and set a $70.00 target price on shares of Kroger in a report on Tuesday, February 4th. Finally, Bank of America upped their price target on Kroger from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, December 20th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.88.
Check Out Our Latest Report on Kroger
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.
Further Reading
- Five stocks we like better than Kroger
- Expert Stock Trading Psychology Tips
- Ignore Reports, Apple Won’t Install Starlink with iOS 18.3
- Low PE Growth Stocks: Unlocking Investment Opportunities
- Casey’s Uptrend Remains Strong—New Highs on the Horizon
- What Are Dividend Champions? How to Invest in the Champions
- Taiwan Semiconductor’s Huge U.S. Move—Stock Impact Ahead
Want to see what other hedge funds are holding KR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Kroger Co. (NYSE:KR – Free Report).
Receive News & Ratings for Kroger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kroger and related companies with MarketBeat.com's FREE daily email newsletter.