Meeder Asset Management Inc. Raises Position in The Kroger Co. (NYSE:KR)

Meeder Asset Management Inc. increased its position in shares of The Kroger Co. (NYSE:KR) by 7.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 168,483 shares of the company’s stock after purchasing an additional 12,092 shares during the period. Kroger makes up approximately 0.7% of Meeder Asset Management Inc.’s portfolio, making the stock its 29th largest position. Meeder Asset Management Inc.’s holdings in Kroger were worth $10,303,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in shares of Kroger in the third quarter valued at approximately $1,252,000. Public Sector Pension Investment Board grew its stake in shares of Kroger by 10.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 26,067 shares of the company’s stock worth $1,494,000 after purchasing an additional 2,500 shares during the period. Rockefeller Capital Management L.P. increased its holdings in shares of Kroger by 7.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 205,252 shares of the company’s stock valued at $11,761,000 after purchasing an additional 13,761 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in shares of Kroger in the third quarter valued at about $416,000. Finally, Tradition Wealth Management LLC purchased a new stake in Kroger during the third quarter worth about $225,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Kroger Stock Up 1.0 %

KR opened at $66.77 on Monday. The stock has a market capitalization of $48.32 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 2.85 and a beta of 0.51. The Kroger Co. has a 12 month low of $49.04 and a 12 month high of $68.51. 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 moving average of $64.04 and a two-hundred day moving average of $60.43.

Kroger (NYSE:KR) last issued its earnings results on Thursday, March 6th. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.05. The firm had revenue of $34.31 billion for the quarter, compared to analysts’ expectations of $34.96 billion. Kroger had a return on equity of 27.73% and a net margin of 1.85%. On average, research analysts expect that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger announced that its Board of Directors has initiated a share buyback program on Wednesday, December 11th that allows the company to buyback $7.50 billion in outstanding shares. This buyback authorization allows the company to purchase up to 16.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Kroger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.28 annualized dividend and a dividend yield of 1.92%. Kroger’s payout ratio is 34.88%.

Insider Buying and Selling

In other news, VP Carin L. Fike sold 4,492 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $66.53, for a total transaction of $298,852.76. Following the transaction, the vice president now directly owns 3,480 shares of the company’s stock, valued at approximately $231,524.40. The trade was a 56.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brian W. Nichols sold 1,300 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $66.71, for a total transaction of $86,723.00. Following the sale, the vice president now directly owns 12,090 shares of the company’s stock, valued at approximately $806,523.90. The trade was a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 223,244 shares of company stock valued at $15,001,418. Company insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on KR shares. The Goldman Sachs Group reiterated a “buy” rating and set a $70.00 price target on shares of Kroger in a research report on Tuesday, February 4th. UBS Group boosted their target price on Kroger from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Telsey Advisory Group restated an “outperform” rating and issued a $73.00 price target on shares of Kroger in a research report on Monday, March 3rd. Morgan Stanley boosted their price objective on shares of Kroger from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Finally, Bank of America raised their target price on shares of Kroger from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, December 20th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $66.88.

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.