Cibc World Market Inc. Grows Holdings in The Kroger Co. (NYSE:KR)

Cibc World Market Inc. raised its position in shares of The Kroger Co. (NYSE:KR) by 249.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 297,859 shares of the company’s stock after purchasing an additional 212,608 shares during the quarter. Cibc World Market Inc.’s holdings in Kroger were worth $18,214,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Adirondack Trust Co. boosted its holdings in shares of Kroger by 1,628.1% during the 4th quarter. Adirondack Trust Co. now owns 553 shares of the company’s stock valued at $34,000 after purchasing an additional 521 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in Kroger during the third quarter valued at approximately $34,000. Crews Bank & Trust purchased a new position in Kroger during the 4th quarter valued at approximately $39,000. Harbor Capital Advisors Inc. bought a new stake in Kroger in the 3rd quarter worth approximately $40,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in shares of Kroger by 218.8% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 714 shares of the company’s stock worth $36,000 after acquiring an additional 490 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Todd A. Foley sold 16,932 shares of Kroger stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $61.44, for a total value of $1,040,302.08. Following the transaction, the chief financial officer now owns 53,782 shares of the company’s stock, valued at $3,304,366.08. The trade was a 23.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Stuart Aitken sold 132,627 shares of Kroger stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $63.18, for a total transaction of $8,379,373.86. Following the completion of the transaction, the senior vice president now directly owns 217,523 shares in the company, valued at $13,743,103.14. This represents a 37.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 195,448 shares of company stock valued at $12,143,923 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Kroger Stock Up 1.0 %

Shares of NYSE:KR opened at $61.65 on Friday. 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 business’s 50 day moving average is $60.38 and its 200 day moving average is $57.02. The stock has a market cap of $44.61 billion, a P/E ratio of 16.31, a price-to-earnings-growth ratio of 2.87 and a beta of 0.48. The Kroger Co. has a 52-week low of $44.48 and a 52-week high of $63.59.

Kroger (NYSE:KR) last announced 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. Kroger had a return on equity of 27.73% and a net margin of 1.85%. The firm had revenue of $33.63 billion for the quarter, compared to analyst estimates of $34.19 billion. During the same quarter last year, the firm posted $0.95 earnings per share. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. Sell-side analysts predict that The Kroger Co. will post 4.44 EPS for the current year.

Kroger announced that its board has approved a stock buyback program on Wednesday, December 11th that authorizes the company to buyback $7.50 billion in shares. This buyback authorization authorizes the company to purchase up to 16.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Kroger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Saturday, March 1st will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.08%. Kroger’s payout ratio is 33.86%.

Wall Street Analysts Forecast Growth

KR has been the topic of a number of recent research reports. Citigroup reaffirmed a “neutral” rating and set a $61.00 price target on shares of Kroger in a research note on Friday, January 24th. Roth Mkm increased their price target on shares of Kroger from $52.00 to $56.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Morgan Stanley boosted their price objective on Kroger from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Wells Fargo & Company raised their price objective on Kroger from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. boosted their target price on Kroger from $69.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.80.

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.