Skandinaviska Enskilda Banken AB publ Decreases Stock Position in The Kroger Co. (NYSE:KR)

Skandinaviska Enskilda Banken AB publ trimmed its holdings in shares of The Kroger Co. (NYSE:KR) by 53.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,651 shares of the company’s stock after selling 113,089 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Kroger were worth $6,102,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Checchi Capital Advisers LLC lifted its position in Kroger by 2.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 6,704 shares of the company’s stock worth $410,000 after buying an additional 159 shares during the last quarter. Keybank National Association OH lifted its position in Kroger by 0.7% in the fourth quarter. Keybank National Association OH now owns 23,410 shares of the company’s stock worth $1,432,000 after buying an additional 167 shares during the last quarter. Valmark Advisers Inc. lifted its position in Kroger by 4.3% in the fourth quarter. Valmark Advisers Inc. now owns 4,260 shares of the company’s stock worth $260,000 after buying an additional 174 shares during the last quarter. Nexus Investment Management ULC lifted its position in Kroger by 0.4% in the fourth quarter. Nexus Investment Management ULC now owns 48,115 shares of the company’s stock worth $2,942,000 after buying an additional 175 shares during the last quarter. Finally, Sanibel Captiva Trust Company Inc. lifted its position in Kroger by 4.0% in the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 4,539 shares of the company’s stock worth $278,000 after buying an additional 176 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Kroger Stock Down 1.5 %

Kroger stock opened at $65.12 on Friday. 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 business’s 50-day simple moving average is $62.74 and its two-hundred day simple moving average is $59.47. The company has a market cap of $47.12 billion, a PE ratio of 17.23, a PEG ratio of 2.85 and a beta of 0.51. The Kroger Co. has a fifty-two week low of $49.04 and a fifty-two week high of $68.51.

Kroger (NYSE:KR) last posted its quarterly earnings results on Thursday, March 6th. The company reported $1.14 earnings per share for the quarter, beating 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 return on equity of 27.73% and a net margin of 1.85%. Equities analysts anticipate that The Kroger Co. will post 4.44 EPS for the current year.

Kroger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors 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 annualized dividend and a yield of 1.97%. Kroger’s dividend payout ratio is presently 34.88%.

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

Analyst Ratings Changes

A number of analysts recently issued reports on KR shares. Morgan Stanley raised their price target on Kroger from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Citigroup increased their target price on Kroger from $61.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, March 7th. BMO Capital Markets increased their target price on Kroger from $60.00 to $63.00 and gave the stock a “market perform” rating in a research note on Thursday, December 12th. Telsey Advisory Group reiterated an “outperform” rating and issued a $73.00 target price on shares of Kroger in a research note on Monday, March 3rd. Finally, Bank of America increased their target price on Kroger from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Kroger has a consensus rating of “Moderate Buy” and a consensus target price of $66.88.

Insider Activity at Kroger

In other news, CFO Todd A. Foley sold 16,932 shares of Kroger stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $61.44, for a total value of $1,040,302.08. Following the sale, the chief financial officer now owns 53,782 shares in the company, valued at $3,304,366.08. This trade represents a 23.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Yael Cosset sold 115,149 shares of Kroger stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $68.08, for a total transaction of $7,839,343.92. Following the completion of the sale, the senior vice president now owns 139,338 shares in the company, valued at approximately $9,486,131.04. This trade represents a 45.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 160,186 shares of company stock worth $10,752,001. 1.40% of the stock is owned by company insiders.

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.