Canopy Partners LLC Has $6.31 Million Stock Position in The Kroger Co. (NYSE:KR)

Canopy Partners LLC lifted its stake in shares of The Kroger Co. (NYSE:KR) by 2,605.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 103,113 shares of the company’s stock after buying an additional 99,302 shares during the period. Kroger comprises approximately 2.4% of Canopy Partners LLC’s investment portfolio, making the stock its 12th biggest position. Canopy Partners LLC’s holdings in Kroger were worth $6,305,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Millstone Evans Group LLC acquired a new position in Kroger during the 4th quarter worth about $25,000. Whipplewood Advisors LLC bought a new position in Kroger during the fourth quarter worth $26,000. TCTC Holdings LLC acquired a new position in shares of Kroger during the fourth quarter valued at about $27,000. Centricity Wealth Management LLC acquired a new stake in Kroger in the fourth quarter valued at approximately $32,000. Finally, Lee Danner & Bass Inc. bought a new stake in Kroger during the 4th quarter valued at $32,000. Institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

KR has been the topic of a number of analyst reports. Melius Research downgraded shares of Kroger from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 1st. UBS Group increased their price target on Kroger from $63.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Morgan Stanley upped their price objective on Kroger from $62.00 to $65.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. BMO Capital Markets lifted their price objective on shares of Kroger from $60.00 to $63.00 and gave the stock a “market perform” rating in a research report on Thursday, December 12th. Finally, Wells Fargo & Company raised their price target on shares of Kroger from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Kroger presently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Kroger Price Performance

KR opened at $67.05 on Monday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.54 and a quick ratio of 1.07. The Kroger Co. has a 1 year low of $49.04 and a 1 year high of $71.93. The firm has a market cap of $48.52 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 2.85 and a beta of 0.60. The stock’s 50 day simple moving average is $64.99 and its 200 day simple moving average is $60.88.

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

Kroger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, May 15th. Kroger’s dividend payout ratio (DPR) is presently 34.88%.

Kroger declared that its Board of Directors has authorized a stock repurchase program on Wednesday, December 11th that permits the company to repurchase $7.50 billion in shares. This repurchase authorization permits the company to buy up to 16.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Kroger

In other Kroger news, VP Carin L. Fike sold 5,541 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $70.79, for a total value of $392,247.39. Following the transaction, the vice president now directly owns 3,480 shares of the company’s stock, valued at approximately $246,349.20. This trade represents a 61.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Todd A. Foley sold 28,105 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $66.62, for a total transaction of $1,872,355.10. Following the completion of the transaction, the chief financial officer now owns 52,861 shares in the company, valued at $3,521,599.82. The trade was a 34.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 228,785 shares of company stock worth $15,393,666. 1.40% of the stock is owned by insiders.

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.