The Kroger Co. (NYSE:KR) CFO Sells $1,040,302.08 in Stock

The Kroger Co. (NYSE:KR) CFO Todd A. Foley sold 16,932 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 53,782 shares in the company, valued at $3,304,366.08. This trade represents a 23.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Kroger Price Performance

Shares of KR traded up $1.54 during trading hours on Friday, reaching $62.50. 21,506,001 shares of the stock traded hands, compared to its average volume of 4,812,450. The company has a market cap of $45.22 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 0.96 and a beta of 0.48. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 1.74. The company’s 50-day moving average price is $58.71 and its two-hundred day moving average price is $55.13. 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 data 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 business had revenue of $33.63 billion for the quarter, compared to the consensus estimate of $34.19 billion. During the same period in the previous year, the business earned $0.95 earnings per share. The business’s revenue was down 1.0% on a year-over-year basis. On average, analysts anticipate that The Kroger Co. will post 4.44 earnings per share for the current year.

Kroger announced that its board has initiated a stock repurchase plan on Wednesday, December 11th that authorizes the company to buyback $7.50 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 16.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have recently issued reports on KR shares. Roth Mkm raised 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. Melius Research began coverage on shares of Kroger in a research report on Monday, September 23rd. They issued a “hold” rating and a $55.00 target price for the company. JPMorgan Chase & Co. raised their price target on Kroger from $59.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. StockNews.com cut Kroger from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 16th. Finally, Bank of America upped their price target on shares of Kroger from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Friday. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.43.

Hedge Funds Weigh In On Kroger

Several hedge funds have recently modified their holdings of KR. Wellington Management Group LLP boosted its position in shares of Kroger by 11,570.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,729,788 shares of the company’s stock valued at $156,417,000 after acquiring an additional 2,706,398 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Kroger by 96.6% during the second quarter. Point72 Asset Management L.P. now owns 5,381,311 shares of the company’s stock valued at $268,689,000 after purchasing an additional 2,643,811 shares during the last quarter. State Street Corp increased its holdings in shares of Kroger by 6.8% in the 3rd quarter. State Street Corp now owns 33,057,629 shares of the company’s stock worth $1,894,202,000 after buying an additional 2,110,681 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Kroger by 110.5% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,574,651 shares of the company’s stock valued at $204,828,000 after buying an additional 1,876,397 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Kroger by 698.8% in the 2nd quarter. Marshall Wace LLP now owns 1,878,479 shares of the company’s stock valued at $93,792,000 after acquiring an additional 1,643,307 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Kroger Company 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.