CIBC Asset Management Inc Raises Stock Holdings in The Kroger Co. (NYSE:KR)

CIBC Asset Management Inc increased its stake in shares of The Kroger Co. (NYSE:KRFree Report) by 14.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,867 shares of the company’s stock after purchasing an additional 14,369 shares during the quarter. CIBC Asset Management Inc’s holdings in Kroger were worth $5,159,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in KR. Belpointe Asset Management LLC increased its stake in Kroger by 2.0% in the third quarter. Belpointe Asset Management LLC now owns 12,405 shares of the company’s stock valued at $555,000 after purchasing an additional 240 shares during the last quarter. Level Four Advisory Services LLC lifted its holdings in shares of Kroger by 1.8% during the 4th quarter. Level Four Advisory Services LLC now owns 14,134 shares of the company’s stock worth $646,000 after acquiring an additional 247 shares during the period. Mendel Capital Management LLC boosted its position in shares of Kroger by 0.8% in the fourth quarter. Mendel Capital Management LLC now owns 33,132 shares of the company’s stock worth $1,514,000 after acquiring an additional 253 shares during the last quarter. Balentine LLC grew its holdings in Kroger by 2.5% in the third quarter. Balentine LLC now owns 10,700 shares of the company’s stock valued at $479,000 after purchasing an additional 257 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in Kroger by 1.6% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 17,507 shares of the company’s stock worth $800,000 after purchasing an additional 274 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on KR shares. StockNews.com upgraded shares of Kroger from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Telsey Advisory Group reissued an “outperform” rating and set a $62.00 price target on shares of Kroger in a research report on Tuesday, April 23rd. Evercore ISI cut their price objective on Kroger from $63.00 to $62.00 and set an “outperform” rating on the stock in a report on Tuesday, April 16th. Wells Fargo & Company upgraded Kroger from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $58.00 to $65.00 in a report on Tuesday, April 16th. Finally, Guggenheim raised their price target on shares of Kroger from $60.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.17.

Get Our Latest Stock Report on KR

Kroger Trading Down 0.7 %

NYSE KR opened at $51.69 on Thursday. The company’s fifty day simple moving average is $54.98 and its 200-day simple moving average is $50.15. The stock has a market cap of $37.30 billion, a P/E ratio of 17.46, a PEG ratio of 1.96 and a beta of 0.43. The Kroger Co. has a 52 week low of $42.10 and a 52 week high of $58.34. The company has a current ratio of 0.81, a quick ratio of 0.36 and a debt-to-equity ratio of 1.04.

Kroger (NYSE:KRGet Free Report) last posted its quarterly earnings data on Thursday, March 7th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.21. Kroger had a net margin of 1.44% and a return on equity of 31.44%. The company had revenue of $37.06 billion during the quarter, compared to analysts’ expectations of $37.07 billion. During the same period in the prior year, the company posted $0.99 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities research analysts predict that The Kroger Co. will post 4.43 EPS for the current fiscal year.

Kroger Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.29 per share. The ex-dividend date was Tuesday, May 14th. This represents a $1.16 dividend on an annualized basis and a yield of 2.24%. Kroger’s dividend payout ratio (DPR) is presently 39.19%.

Insiders Place Their Bets

In other Kroger news, SVP Kenneth C. Kimball sold 30,251 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $55.98, for a total transaction of $1,693,450.98. Following the transaction, the senior vice president now directly owns 105,298 shares in the company, valued at approximately $5,894,582.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Kenneth C. Kimball sold 30,251 shares of Kroger stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $55.98, for a total value of $1,693,450.98. Following the completion of the transaction, the senior vice president now owns 105,298 shares in the company, valued at approximately $5,894,582.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Valerie L. Jabbar sold 15,000 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $55.52, for a total transaction of $832,800.00. Following the sale, the senior vice president now owns 77,696 shares of the company’s stock, valued at approximately $4,313,681.92. The disclosure for this sale can be found here. Insiders have sold 55,796 shares of company stock worth $3,118,767 in the last three months. 1.40% of the stock is owned by insiders.

About Kroger

(Free Report)

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

Institutional Ownership by Quarter for Kroger (NYSE:KR)

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