Cutler Investment Counsel LLC Trims Position in The Kroger Co. (NYSE:KR)

Cutler Investment Counsel LLC reduced its position in The Kroger Co. (NYSE:KR) by 2.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 193,828 shares of the company’s stock after selling 5,487 shares during the quarter. Kroger comprises about 1.4% of Cutler Investment Counsel LLC’s holdings, making the stock its 28th biggest holding. Cutler Investment Counsel LLC’s holdings in Kroger were worth $11,106,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Jaffetilchin Investment Partners LLC grew its stake in shares of Kroger by 1.1% in the second quarter. Jaffetilchin Investment Partners LLC now owns 16,551 shares of the company’s stock worth $826,000 after purchasing an additional 187 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in Kroger by 2.8% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 6,922 shares of the company’s stock worth $395,000 after acquiring an additional 190 shares during the period. Global Financial Private Client LLC boosted its holdings in Kroger by 1.2% in the first quarter. Global Financial Private Client LLC now owns 17,112 shares of the company’s stock valued at $975,000 after acquiring an additional 196 shares in the last quarter. SignalPoint Asset Management LLC increased its position in Kroger by 3.2% during the 3rd quarter. SignalPoint Asset Management LLC now owns 6,500 shares of the company’s stock valued at $367,000 after purchasing an additional 200 shares during the period. Finally, Bleakley Financial Group LLC raised its holdings in Kroger by 1.9% in the 3rd quarter. Bleakley Financial Group LLC now owns 11,726 shares of the company’s stock worth $672,000 after purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity at Kroger

In other news, SVP Valerie L. Jabbar sold 3,000 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $55.91, for a total value of $167,730.00. Following the sale, the senior vice president now owns 74,084 shares in the company, valued at $4,142,036.44. This represents a 3.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Carin L. Fike sold 3,010 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $55.57, for a total transaction of $167,265.70. Following the transaction, the vice president now owns 47,593 shares of the company’s stock, valued at $2,644,743.01. This represents a 5.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,932 shares of company stock valued at $721,243 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on KR. Argus increased their price objective on Kroger from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. lifted their price target on shares of Kroger from $58.00 to $59.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Telsey Advisory Group reissued an “outperform” rating and issued a $62.00 target price on shares of Kroger in a report on Wednesday, October 9th. Morgan Stanley upped their price target on Kroger from $57.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. Finally, Evercore ISI boosted their price objective on Kroger from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Kroger currently has an average rating of “Moderate Buy” and a consensus target price of $60.09.

Kroger Stock Down 1.3 %

KR stock traded down $0.74 during trading on Friday, hitting $58.02. 3,632,647 shares of the company’s stock traded hands, compared to its average volume of 4,689,279. The business has a fifty day simple moving average of $56.39 and a two-hundred day simple moving average of $54.12. The company has a quick ratio of 0.46, a current ratio of 0.87 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $41.98 billion, a P/E ratio of 15.19, a PEG ratio of 0.92 and a beta of 0.48. The Kroger Co. has a 1 year low of $42.10 and a 1 year high of $60.35.

Kroger (NYSE:KR) last issued its quarterly earnings data on Thursday, September 12th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. Kroger had a net margin of 1.86% and a return on equity of 28.54%. The firm had revenue of $33.91 billion for the quarter, compared to the consensus estimate of $34.09 billion. During the same quarter in the previous year, the firm earned $0.96 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts anticipate that The Kroger Co. will post 4.46 EPS for the current year.

Kroger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, November 15th. This represents a $1.28 annualized dividend and a yield of 2.21%. Kroger’s dividend payout ratio (DPR) is 33.51%.

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.