Islay Capital Management LLC Acquires Shares of 23,346 The Kroger Co. (NYSE:KR)

Islay Capital Management LLC bought a new position in The Kroger Co. (NYSE:KR) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,346 shares of the company’s stock, valued at approximately $1,338,000.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KR. StockNews.com downgraded shares of Kroger from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 16th. BNP Paribas initiated coverage on shares of Kroger in a research note on Friday, October 18th. They set a “neutral” rating and a $56.00 price target on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $62.00 price objective on shares of Kroger in a research report on Wednesday, October 9th. Argus raised their target price on shares of Kroger from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Evercore ISI raised their price target on Kroger from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, September 13th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Kroger currently has an average rating of “Moderate Buy” and a consensus price target of $60.09.

Insider Activity at Kroger

In related news, VP Carin L. Fike sold 3,010 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $55.57, for a total transaction of $167,265.70. Following the transaction, the vice president now owns 47,593 shares of the company’s stock, valued at approximately $2,644,743.01. This trade represents a 5.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian W. Nichols sold 6,922 shares of the business’s stock in a transaction that occurred 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 represents a 32.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,932 shares of company stock valued at $721,243 over the last ninety days. Insiders own 1.40% of the company’s stock.

Kroger Stock Performance

NYSE:KR opened at $58.02 on Monday. The firm has a 50-day moving average of $56.39 and a two-hundred day moving average of $54.11. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.87 and a quick ratio of 0.46. The stock has a market cap of $41.98 billion, a P/E ratio of 15.19, a PEG ratio of 0.90 and a beta of 0.48. The Kroger Co. has a 1-year low of $42.10 and a 1-year high of $60.35.

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

Kroger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Friday, November 15th. Kroger’s payout ratio is 33.51%.

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.