Cibc World Market Inc. Raises Stake in The Kroger Co. (NYSE:KR)

Cibc World Market Inc. boosted its holdings in shares of The Kroger Co. (NYSE:KR) by 249.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 297,859 shares of the company’s stock after buying an additional 212,608 shares during the quarter. Cibc World Market Inc.’s holdings in Kroger were worth $18,214,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of KR. Northwest Investment Counselors LLC purchased a new position in shares of Kroger during the third quarter worth $34,000. Adirondack Trust Co. lifted its holdings in shares of Kroger by 1,628.1% in the 4th quarter. Adirondack Trust Co. now owns 553 shares of the company’s stock valued at $34,000 after buying an additional 521 shares during the period. Newbridge Financial Services Group Inc. boosted its stake in shares of Kroger by 218.8% in 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 last quarter. Crews Bank & Trust acquired a new stake in Kroger during the fourth quarter worth about $39,000. Finally, Harbor Capital Advisors Inc. purchased a new position in Kroger during the third quarter valued at approximately $40,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on KR shares. Morgan Stanley raised their price objective on shares of Kroger from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Bank of America lifted their price objective on shares of Kroger from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, December 20th. Citigroup reissued a “neutral” rating and set a $61.00 target price on shares of Kroger in a research note on Friday, January 24th. Jefferies Financial Group upgraded Kroger from a “hold” rating to a “buy” rating and lifted their price target for the company from $54.00 to $73.00 in a research note on Tuesday, December 3rd. Finally, StockNews.com lowered Kroger from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kroger currently has an average rating of “Moderate Buy” and a consensus price target of $65.80.

Insider Transactions at Kroger

In related news, CFO Todd A. Foley sold 16,932 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $61.44, for a total value of $1,040,302.08. Following the transaction, the chief financial officer now directly owns 53,782 shares in the company, valued at approximately $3,304,366.08. This represents a 23.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Timothy A. Massa sold 25,889 shares of the firm’s stock in a transaction 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 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 195,448 shares of company stock worth $12,143,923 in the last quarter. Company insiders own 1.40% of the company’s stock.

Kroger Price Performance

Shares of NYSE KR opened at $61.65 on Friday. The firm has a 50-day simple moving average of $60.38 and a 200-day simple moving average of $57.02. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $44.61 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 2.87 and a beta of 0.48. The Kroger Co. has a 52 week low of $44.48 and a 52 week high of $63.59.

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

Kroger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Saturday, March 1st will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.08%. Kroger’s dividend payout ratio (DPR) is presently 33.86%.

Kroger announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 11th that authorizes the company to buyback $7.50 billion in shares. This buyback authorization authorizes the company to repurchase up to 16.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.