iA Global Asset Management Inc. Cuts Holdings in The Kroger Co. (NYSE:KR)

iA Global Asset Management Inc. lowered its holdings in The Kroger Co. (NYSE:KR) by 15.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,738 shares of the company’s stock after selling 7,347 shares during the quarter. iA Global Asset Management Inc.’s holdings in Kroger were worth $2,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of KR. Norges Bank bought a new stake in shares of Kroger in the fourth quarter worth approximately $229,863,000. Maj Invest Holding A S bought a new stake in Kroger during the first quarter valued at about $185,913,000. Sanders Capital LLC increased its position in Kroger by 5.0% in the fourth quarter. Sanders Capital LLC now owns 23,786,389 shares of the company’s stock worth $1,087,276,000 after buying an additional 1,123,427 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Kroger by 378.8% during the 4th quarter. Mackenzie Financial Corp now owns 765,445 shares of the company’s stock valued at $34,988,000 after acquiring an additional 605,591 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Kroger by 86.4% in the first quarter. BNP Paribas Financial Markets now owns 1,274,995 shares of the company’s stock worth $72,840,000 after purchasing an additional 590,818 shares during the period. 80.93% of the stock is owned by institutional investors.

Kroger Trading Down 1.5 %

KR traded down $0.83 during mid-day trading on Friday, hitting $54.26. 1,764,211 shares of the stock were exchanged, compared to its average volume of 5,079,916. The company has a market cap of $39.16 billion, a PE ratio of 18.40, a PEG ratio of 0.85 and a beta of 0.45. The Kroger Co. has a 1-year low of $42.10 and a 1-year high of $58.34. The company has a current ratio of 0.86, a quick ratio of 0.45 and a debt-to-equity ratio of 0.97. The firm’s fifty day moving average is $52.15 and its two-hundred day moving average is $52.17.

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

Kroger Increases Dividend

The business also recently disclosed 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. This is an increase from Kroger’s previous quarterly dividend of $0.29. This represents a $5.12 annualized dividend and a dividend yield of 9.44%. The ex-dividend date is Thursday, August 15th. Kroger’s payout ratio is currently 39.59%.

Insider Activity at Kroger

In other news, VP Brian W. Nichols sold 2,000 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $54.53, for a total transaction of $109,060.00. Following the completion of the transaction, the vice president now owns 18,063 shares of the company’s stock, valued at approximately $984,975.39. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on KR. Wolfe Research upgraded Kroger to a “strong-buy” rating in a research note on Friday, June 21st. Wells Fargo & Company raised shares of Kroger from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $58.00 to $65.00 in a research note on Tuesday, April 16th. JPMorgan Chase & Co. reduced their price target on shares of Kroger from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. Morgan Stanley cut their target price 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. Finally, BNP Paribas reiterated an “underperform” rating and set a $48.00 price target on shares of Kroger in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.64.

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.