Confluence Wealth Services Inc. Sells 600 Shares of The Kroger Co. (NYSE:KR)

Confluence Wealth Services Inc. reduced its stake in The Kroger Co. (NYSE:KRFree Report) by 9.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,010 shares of the company’s stock after selling 600 shares during the period. Confluence Wealth Services Inc.’s holdings in Kroger were worth $352,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Kroger by 17.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,644 shares of the company’s stock worth $5,856,000 after buying an additional 14,078 shares in the last quarter. Hager Investment Management Services LLC bought a new stake in Kroger during the 4th quarter worth $671,000. Ninety One UK Ltd increased its holdings in Kroger by 3.9% in the 4th quarter. Ninety One UK Ltd now owns 1,653,547 shares of the company’s stock worth $101,114,000 after purchasing an additional 62,685 shares in the last quarter. Flavin Financial Services Inc. acquired a new stake in shares of Kroger during the fourth quarter valued at about $360,000. Finally, Resonant Capital Advisors LLC grew its holdings in shares of Kroger by 0.7% during the fourth quarter. Resonant Capital Advisors LLC now owns 52,339 shares of the company’s stock worth $3,201,000 after purchasing an additional 347 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on KR shares. StockNews.com lowered shares of Kroger from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 14th. Morgan Stanley lifted their price target on shares of Kroger from $62.00 to $65.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Guggenheim assumed coverage on Kroger in a report on Thursday, December 19th. They issued a “buy” rating and a $68.00 price objective for the company. Wells Fargo & Company lifted their target price on Kroger from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Finally, Bank of America increased their price target on Kroger from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Seven equities research 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.06.

Check Out Our Latest Report on KR

Insiders Place Their Bets

In related news, SVP Yael Cosset sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $58.39, for a total value of $1,167,800.00. Following the transaction, the senior vice president now owns 144,620 shares of the company’s stock, valued at approximately $8,444,361.80. This trade represents a 12.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy A. Massa sold 25,889 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $60.12, for a total value of $1,556,446.68. Following the completion of the sale, the senior vice president now directly owns 115,861 shares of the company’s stock, valued at approximately $6,965,563.32. This trade represents a 18.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,448 shares of company stock worth $12,143,923. Corporate insiders own 1.40% of the company’s stock.

Kroger Price Performance

Kroger stock opened at $65.37 on Thursday. The stock’s 50 day moving average price is $60.56 and its two-hundred day moving average price is $57.25. The stock has a market capitalization of $47.30 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 2.90 and a beta of 0.47. 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 Kroger Co. has a 52-week low of $44.48 and a 52-week high of $65.64.

Kroger (NYSE:KRGet Free Report) last posted its quarterly earnings results on Thursday, December 5th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. Kroger had a net margin of 1.85% and a return on equity of 27.73%. The business had revenue of $33.63 billion during the quarter, compared to analysts’ expectations of $34.19 billion. During the same period last year, the company posted $0.95 earnings per share. The business’s quarterly revenue was down 1.0% on a year-over-year basis. On average, equities analysts predict that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Friday, February 14th. Kroger’s dividend payout ratio (DPR) is currently 33.86%.

Kroger announced that its Board of Directors has initiated a stock buyback program on Wednesday, December 11th that authorizes the company to buyback $7.50 billion in shares. This buyback authorization authorizes the company to reacquire up to 16.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.

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Institutional Ownership by Quarter for Kroger (NYSE:KR)

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