NEOS Investment Management LLC Increases Position in The Kroger Co. (NYSE:KR)

NEOS Investment Management LLC lifted its holdings in The Kroger Co. (NYSE:KR) by 30.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,139 shares of the company’s stock after buying an additional 8,705 shares during the quarter. NEOS Investment Management LLC’s holdings in Kroger were worth $2,271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. UniSuper Management Pty Ltd boosted its holdings in shares of Kroger by 12.6% in the fourth quarter. UniSuper Management Pty Ltd now owns 57,593 shares of the company’s stock valued at $3,522,000 after purchasing an additional 6,467 shares during the period. WINTON GROUP Ltd grew its holdings in Kroger by 1,131.0% during the 4th quarter. WINTON GROUP Ltd now owns 95,522 shares of the company’s stock worth $5,841,000 after acquiring an additional 87,762 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Kroger by 8.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,066,859 shares of the company’s stock valued at $65,569,000 after purchasing an additional 85,997 shares in the last quarter. CoreFirst Bank & Trust bought a new stake in Kroger during the 4th quarter valued at $69,000. Finally, Clune & Associates LTD. purchased a new position in Kroger in the fourth quarter valued at about $733,000. 80.93% of the stock is owned by institutional investors.

Kroger Stock Up 1.0 %

KR stock opened at $66.77 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 quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 1.74. The firm has a 50-day simple moving average of $64.04 and a 200-day simple moving average of $60.31. The stock has a market capitalization of $48.32 billion, a P/E ratio of 17.66, 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 analysts’ consensus estimates of $1.09 by $0.05. Kroger had a return on equity of 27.73% and a net margin of 1.85%. The firm had revenue of $34.31 billion for the quarter, compared to analyst estimates of $34.96 billion. Equities analysts forecast that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Kroger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, May 15th. Kroger’s dividend payout ratio is currently 34.88%.

Kroger declared that its board has approved a share 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Jefferies Financial Group upgraded Kroger from a “hold” rating to a “buy” rating and increased their price target for the company from $54.00 to $73.00 in a research note on Tuesday, December 3rd. Evercore ISI raised their price target on shares of Kroger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 11th. Bank of America upped 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 raised their target price on shares of Kroger from $61.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, March 7th. Finally, Wells Fargo & Company increased their price target on Kroger from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.88.

Insider Buying and Selling

In other Kroger news, SVP Kenneth C. Kimball sold 11,000 shares of the business’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $65.37, for a total transaction of $719,070.00. Following the transaction, the senior vice president now owns 127,106 shares of the company’s stock, valued at approximately $8,308,919.22. The trade was a 7.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Brian W. Nichols sold 1,300 shares of Kroger stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $66.71, for a total value of $86,723.00. Following the transaction, the vice president now owns 12,090 shares in the company, valued at approximately $806,523.90. This represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 223,244 shares of company stock worth $15,001,418. 1.40% of the stock is owned by 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.