Paradigm Asset Management Co. LLC Takes Position in The Kroger Co. (NYSE:KR)

Paradigm Asset Management Co. LLC acquired a new stake in The Kroger Co. (NYSE:KR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 21,600 shares of the company’s stock, valued at approximately $1,321,000.

A number of other hedge funds have also made changes to their positions in KR. Centricity Wealth Management LLC purchased a new position in shares of Kroger in the 4th quarter valued at about $32,000. Adirondack Trust Co. increased its holdings in shares of Kroger by 1,628.1% in the 4th quarter. Adirondack Trust Co. now owns 553 shares of the company’s stock valued at $34,000 after acquiring an additional 521 shares during the last quarter. Crews Bank & Trust purchased a new position in shares of Kroger in the 4th quarter valued at about $39,000. McClarren Financial Advisors Inc. purchased a new position in Kroger during the 4th quarter worth approximately $39,000. Finally, Harbor Capital Advisors Inc. purchased a new position in Kroger during the 3rd quarter worth approximately $40,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Kroger Stock Down 1.6 %

KR opened at $64.41 on Friday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.54 and a quick ratio of 1.07. The business has a 50 day simple moving average of $61.69 and a 200-day simple moving average of $58.08. The stock has a market capitalization of $46.61 billion, a P/E ratio of 17.04, a P/E/G ratio of 2.90 and a beta of 0.47. The Kroger Co. has a 12 month low of $46.96 and a 12 month high of $66.18.

Kroger (NYSE:KR) last posted its quarterly earnings results on Thursday, December 5th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.97 by $0.01. The business had revenue of $33.63 billion during the quarter, compared to analysts’ expectations of $34.19 billion. Kroger had a return on equity of 27.73% and a net margin of 1.85%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the firm earned $0.95 EPS. On average, equities analysts anticipate that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Kroger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, February 14th. This represents a $1.28 annualized dividend and a yield of 1.99%. Kroger’s dividend payout ratio is presently 33.86%.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KR. Jefferies Financial Group upgraded Kroger from a “hold” rating to a “buy” rating and raised their price target for the stock from $54.00 to $73.00 in a research note on Tuesday, December 3rd. UBS Group raised their price target on Kroger from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Citigroup restated a “neutral” rating and set a $61.00 price target on shares of Kroger in a research note on Friday, January 24th. BMO Capital Markets raised their price target on Kroger from $60.00 to $63.00 and gave the stock a “market perform” rating in a research note on Thursday, December 12th. Finally, Roth Mkm lifted their target price on Kroger from $52.00 to $56.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. 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. According to data from MarketBeat.com, Kroger presently has an average rating of “Moderate Buy” and a consensus price target of $67.19.

Insider Buying and Selling

In related news, CFO Todd A. Foley sold 16,932 shares of Kroger stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $61.44, for a total transaction of $1,040,302.08. Following the completion of the transaction, the chief financial officer now directly owns 53,782 shares of the company’s stock, valued at approximately $3,304,366.08. The trade was a 23.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Timothy A. Massa sold 25,889 shares of Kroger stock in a transaction on Friday, December 6th. The stock was sold at an average price of $60.12, for a total value of $1,556,446.68. Following the transaction, the senior vice president now directly owns 115,861 shares of the company’s stock, valued at approximately $6,965,563.32. This represents a 18.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 195,448 shares of company stock valued at $12,143,923. 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.