Kentucky Retirement Systems Insurance Trust Fund Has $1.25 Million Stock Holdings in The Kroger Co. (NYSE:KR)

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in The Kroger Co. (NYSE:KR) by 7.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,842 shares of the company’s stock after selling 1,734 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Kroger were worth $1,248,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in KR. Creekmur Asset Management LLC acquired a new position in Kroger in the 4th quarter valued at approximately $26,000. Valued Wealth Advisors LLC grew its position in Kroger by 255.6% in the first quarter. Valued Wealth Advisors LLC now owns 448 shares of the company’s stock worth $26,000 after acquiring an additional 322 shares in the last quarter. SouthState Corp grew its position in Kroger by 334.3% in the fourth quarter. SouthState Corp now owns 595 shares of the company’s stock worth $27,000 after acquiring an additional 458 shares in the last quarter. Scarborough Advisors LLC bought a new stake in Kroger in the fourth quarter worth approximately $28,000. Finally, Hexagon Capital Partners LLC grew its position in Kroger by 101.6% in the first quarter. Hexagon Capital Partners LLC now owns 496 shares of the company’s stock worth $28,000 after acquiring an additional 250 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Kroger Price Performance

Shares of KR stock traded down $0.20 during mid-day trading on Monday, reaching $54.07. The company’s stock had a trading volume of 466,956 shares, compared to its average volume of 5,121,620. The Kroger Co. has a 1-year low of $42.10 and a 1-year high of $58.34. The company has a market cap of $39.03 billion, a P/E ratio of 18.52, a PEG ratio of 0.84 and a beta of 0.45. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.45 and a current ratio of 0.86. The firm’s 50-day moving average is $52.07 and its two-hundred day moving average is $52.01.

Kroger (NYSE:KR) last announced its quarterly earnings data on Thursday, June 20th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. The company had revenue of $45.27 billion during the quarter, compared to analysts’ expectations of $44.86 billion. Kroger had a net margin of 1.43% and a return on equity of 29.89%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.51 EPS. On average, research analysts predict that The Kroger Co. will post 4.45 earnings per share for the current year.

Kroger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Thursday, August 15th will be given a dividend of $1.28 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.12 dividend on an annualized basis and a dividend yield of 9.47%. This is a boost from Kroger’s previous quarterly dividend of $0.29. Kroger’s dividend payout ratio (DPR) is 39.59%.

Wall Street Analyst Weigh In

Several analysts have commented on KR shares. BMO Capital Markets raised shares of Kroger from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $58.00 to $60.00 in a research report on Tuesday, June 18th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $62.00 price objective on shares of Kroger in a report on Monday, June 17th. JPMorgan Chase & Co. decreased their price objective on shares of Kroger from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Wells Fargo & Company raised shares of Kroger from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $58.00 to $65.00 in a report on Tuesday, April 16th. Finally, Morgan Stanley decreased their price objective on shares of Kroger from $58.00 to $57.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.64.

Insider Buying and Selling

In other Kroger news, VP Brian W. Nichols sold 2,000 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $54.53, for a total value of $109,060.00. Following the completion of the sale, the vice president now owns 18,063 shares in the company, valued at approximately $984,975.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is currently owned by corporate 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.