Burney Co. Raises Holdings in The Kroger Co. (NYSE:KR)

Burney Co. lifted its holdings in The Kroger Co. (NYSE:KR) by 16.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,002 shares of the company’s stock after buying an additional 16,923 shares during the quarter. Burney Co.’s holdings in Kroger were worth $7,338,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Altshuler Shaham Ltd acquired a new position in shares of Kroger during the 2nd quarter worth $28,000. Northwest Investment Counselors LLC purchased a new stake in Kroger during the third quarter worth about $34,000. Newbridge Financial Services Group Inc. grew its position 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 period. Harbor Capital Advisors Inc. acquired a new stake in shares of Kroger in the 3rd quarter worth approximately $40,000. Finally, Capital Performance Advisors LLP acquired a new stake in Kroger in the third quarter valued at $43,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Kroger Stock Down 0.8 %

KR stock opened at $59.43 on Wednesday. The company has a market cap of $43.00 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 0.97 and a beta of 0.48. The Kroger Co. has a 12-month low of $44.48 and a 12-month high of $63.59. 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 company has a 50 day moving average of $60.28 and a two-hundred day moving average of $56.44.

Kroger (NYSE:KR) last announced its earnings results on Thursday, December 5th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.01. The firm had revenue of $33.63 billion during the quarter, compared to the consensus estimate of $34.19 billion. Kroger had a return on equity of 27.73% and a net margin of 1.85%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 EPS. On average, equities analysts anticipate that The Kroger Co. will post 4.43 earnings per share for the current fiscal year.

Kroger declared that its Board of Directors has authorized a share buyback program on Wednesday, December 11th that permits the company to buyback $7.50 billion in outstanding shares. This buyback authorization permits the company to buy up to 16.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Kroger

In related news, SVP Timothy A. Massa sold 25,889 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $60.12, for a total value of $1,556,446.68. Following the completion of the sale, the senior vice president now directly owns 115,861 shares in the company, valued at approximately $6,965,563.32. This trade represents a 18.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Stuart Aitken sold 132,627 shares of the stock in a transaction dated Thursday, December 12th. The shares were 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. The trade was a 37.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 195,448 shares of company stock worth $12,143,923. 1.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

KR has been the subject of a number of recent research reports. Bank of America raised their price objective on shares of Kroger from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Telsey Advisory Group restated an “outperform” rating and set a $70.00 price objective on shares of Kroger in a report on Monday, December 23rd. BMO Capital Markets upped their target price on Kroger from $60.00 to $63.00 and gave the company a “market perform” rating in a research note on Thursday, December 12th. BNP Paribas began coverage on Kroger in a report on Friday, October 18th. They issued a “neutral” rating and a $56.00 price target for the company. Finally, Wells Fargo & Company boosted their target price on shares of Kroger from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.93.

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.