Todd A. Foley Sells 28,105 Shares of The Kroger Co. (NYSE:KR) Stock

The Kroger Co. (NYSE:KR) CFO Todd A. Foley sold 28,105 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $66.62, for a total transaction of $1,872,355.10. Following the sale, the chief financial officer now directly owns 52,861 shares of the company’s stock, valued at $3,521,599.82. This represents a 34.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Kroger Price Performance

Shares of KR opened at $65.01 on Thursday. The Kroger Co. has a 12-month low of $49.04 and a 12-month high of $68.51. The business’s fifty day moving average is $62.58 and its 200 day moving average is $59.29. 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 cap of $47.04 billion, a P/E ratio of 17.20, a P/E/G ratio of 2.85 and a beta of 0.51.

Kroger (NYSE:KR) last issued its 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 company had revenue of $34.31 billion for the quarter, compared to analysts’ expectations of $34.96 billion. Sell-side analysts anticipate that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Kroger Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Friday, February 14th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Friday, February 14th. Kroger’s payout ratio is currently 34.88%.

Kroger announced that its board has approved a share repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $7.50 billion in shares. This repurchase authorization authorizes the company to repurchase up to 16.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

KR has been the subject of a number of recent analyst reports. Bank of America increased their target price on shares of Kroger from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, December 20th. The Goldman Sachs Group reissued a “buy” rating and set a $70.00 target price on shares of Kroger in a research report on Tuesday, February 4th. Wells Fargo & Company increased their target price on shares of Kroger from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Morgan Stanley increased their target price on shares of Kroger from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Finally, Evercore ISI increased their target price on shares of Kroger from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Kroger currently has an average rating of “Moderate Buy” and an average price target of $66.88.

Institutional Investors Weigh In On Kroger

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millstone Evans Group LLC purchased a new stake in Kroger in the 4th quarter valued at $25,000. Whipplewood Advisors LLC purchased a new stake in Kroger in the 4th quarter valued at $26,000. TCTC Holdings LLC purchased a new stake in Kroger in the 4th quarter valued at $27,000. Transce3nd LLC purchased a new stake in Kroger in the 4th quarter valued at $28,000. Finally, Lee Danner & Bass Inc. purchased a new stake in Kroger in the 4th quarter valued at $32,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

About Kroger

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.