Connor Clark & Lunn Investment Management Ltd. Lowers Position in The Kroger Co. (NYSE:KR)

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in The Kroger Co. (NYSE:KR) by 60.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 151,729 shares of the company’s stock after selling 234,191 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Kroger were worth $9,278,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Whipplewood Advisors LLC purchased a new position in shares of Kroger in the fourth quarter valued at $26,000. Centricity Wealth Management LLC purchased a new position in shares of Kroger in the fourth quarter valued at $32,000. Adirondack Trust Co. boosted its stake in shares of Kroger by 1,628.1% in the fourth quarter. Adirondack Trust Co. now owns 553 shares of the company’s stock valued at $34,000 after purchasing an additional 521 shares during the period. Crews Bank & Trust purchased a new position in shares of Kroger in the fourth quarter valued at $39,000. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of Kroger in the fourth quarter valued at $39,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kroger

In related news, 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 sale, the chief financial officer now directly owns 52,861 shares of the company’s stock, valued at approximately $3,521,599.82. This represents a 34.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Yael Cosset sold 115,149 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $68.08, for a total value of $7,839,343.92. Following the sale, the senior vice president now directly owns 139,338 shares of the company’s stock, valued at approximately $9,486,131.04. The trade was a 45.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 160,186 shares of company stock worth $10,752,001. Company insiders own 1.40% of the company’s stock.

Kroger Stock Down 1.5 %

Shares of NYSE:KR opened at $65.12 on Friday. The Kroger Co. has a 52 week low of $49.04 and a 52 week high of $68.51. 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 company’s fifty day moving average is $62.74 and its 200-day moving average is $59.43. The company has a market capitalization of $47.12 billion, a PE ratio of 17.23, a P/E/G ratio of 2.85 and a beta of 0.51.

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

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

Kroger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.28 dividend on an annualized basis and a yield of 1.97%. Kroger’s payout ratio is presently 34.88%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. BMO Capital Markets upped their target price on shares of Kroger from $60.00 to $63.00 and gave the company a “market perform” rating in a research note on Thursday, December 12th. Jefferies Financial Group raised shares of Kroger from a “hold” rating to a “buy” rating and upped their price target for the company from $54.00 to $73.00 in a report on Tuesday, December 3rd. Roth Capital set a $58.00 price target on shares of Kroger in a report on Thursday, March 6th. Guggenheim upped their price target on shares of Kroger from $68.00 to $71.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, StockNews.com cut shares of Kroger from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $66.88.

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.