Navellier & Associates Inc. Sells 3,673 Shares of The Kroger Co. (NYSE:KR)

Navellier & Associates Inc. trimmed its stake in shares of The Kroger Co. (NYSE:KR) by 21.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,190 shares of the company’s stock after selling 3,673 shares during the quarter. Navellier & Associates Inc.’s holdings in Kroger were worth $756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Kroger Stock Up 1.7 %

Kroger stock opened at $58.58 on Friday. The firm has a market capitalization of $42.38 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 0.90 and a beta of 0.48. The firm’s fifty day moving average price is $56.82 and its two-hundred day moving average price is $54.21. The Kroger Co. has a 1-year low of $42.97 and a 1-year high of $60.35. The company has a current ratio of 0.87, a quick ratio of 0.46 and a debt-to-equity ratio of 0.96.

Kroger (NYSE:KR) last announced its quarterly earnings results on Thursday, September 12th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.02. The business had revenue of $33.91 billion for the quarter, compared to analysts’ expectations of $34.09 billion. Kroger had a net margin of 1.86% and a return on equity of 28.54%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.96 EPS. On average, equities research analysts predict that The Kroger Co. will post 4.46 earnings per share for the current fiscal year.

Kroger Announces Dividend

The business 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 $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Friday, November 15th. Kroger’s payout ratio is currently 33.51%.

Wall Street Analyst Weigh In

KR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on Kroger from $58.00 to $59.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Melius Research began coverage on Kroger in a report on Monday, September 23rd. They issued a “hold” rating and a $55.00 target price for the company. StockNews.com cut Kroger from a “strong-buy” rating to a “buy” rating in a report on Monday, September 16th. Morgan Stanley lifted their price objective on shares of Kroger from $57.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $62.00 target price on shares of Kroger in a research note on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Kroger presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.09.

Insider Buying and Selling at Kroger

In other news, VP Brian W. Nichols sold 6,922 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $55.80, for a total transaction of $386,247.60. Following the completion of the sale, the vice president now directly owns 14,063 shares of the company’s stock, valued at $784,715.40. This trade represents a 32.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Valerie L. Jabbar sold 3,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $55.91, for a total transaction of $167,730.00. Following the completion of the transaction, the senior vice president now directly owns 74,084 shares in the company, valued at $4,142,036.44. This trade represents a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,932 shares of company stock worth $721,243. Corporate insiders own 1.40% of the company’s stock.

Kroger 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.