The Kroger Co. (NYSE:KR) Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. lowered its holdings in shares of The Kroger Co. (NYSE:KR) by 9.6% in the third quarter, HoldingsChannel.com reports. The fund owned 5,872 shares of the company’s stock after selling 627 shares during the quarter. Freedom Investment Management Inc.’s holdings in Kroger were worth $336,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Altshuler Shaham Ltd purchased a new position in shares of Kroger during the 2nd quarter worth approximately $28,000. Northwest Investment Counselors LLC acquired a new stake in Kroger during the 3rd quarter valued at $34,000. Harbor Capital Advisors Inc. purchased a new position in Kroger during the third quarter worth $40,000. Newbridge Financial Services Group Inc. raised its holdings in shares of Kroger by 218.8% in the second quarter. Newbridge Financial Services Group Inc. now owns 714 shares of the company’s stock worth $36,000 after acquiring an additional 490 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Kroger in the third quarter valued at $43,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Kroger Stock Performance

Shares of NYSE:KR opened at $61.08 on Friday. The firm has a market capitalization of $44.19 billion, a PE ratio of 15.99, a P/E/G ratio of 0.94 and a beta of 0.48. The Kroger Co. has a 12 month low of $42.97 and a 12 month high of $61.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.87 and a quick ratio of 0.46. The business has a 50-day moving average of $57.42 and a two-hundred day moving average of $54.41.

Kroger (NYSE:KR) last posted its quarterly earnings results on Thursday, September 12th. The company reported $0.93 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $34.09 billion. During the same quarter last year, the firm posted $0.96 earnings per share. Kroger’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts forecast that The Kroger Co. will post 4.46 earnings per share for the current year.

Kroger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, November 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.10%. Kroger’s dividend payout ratio (DPR) is 33.51%.

Analysts Set New Price Targets

Several brokerages recently weighed in on KR. Melius Research initiated coverage on shares of Kroger in a research note on Monday, September 23rd. They issued a “hold” rating and a $55.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of Kroger from $58.00 to $59.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Evercore ISI boosted their price target on Kroger from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Telsey Advisory Group upped their target price on Kroger from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, BNP Paribas started coverage on Kroger in a research report on Friday, October 18th. They set a “neutral” rating and a $56.00 target price on the stock. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.55.

Insider Activity at Kroger

In other Kroger news, VP Brian W. Nichols sold 6,922 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $55.80, for a total value of $386,247.60. Following the completion of the transaction, the vice president now owns 14,063 shares in the company, valued at $784,715.40. This represents a 32.99 % decrease in their position. 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 Kroger stock in a transaction that occurred 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 sale, the vice president now owns 47,593 shares in the company, valued at $2,644,743.01. This represents a 5.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 12,932 shares of company stock worth $721,243. Corporate insiders own 1.40% of the company’s stock.

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.