Lebenthal Global Advisors LLC Acquires 1,448 Shares of The Kroger Co. (NYSE:KR)

Lebenthal Global Advisors LLC increased its holdings in The Kroger Co. (NYSE:KR) by 6.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,434 shares of the company’s stock after buying an additional 1,448 shares during the period. Lebenthal Global Advisors LLC’s holdings in Kroger were worth $1,555,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp raised its stake in shares of Kroger by 6.8% during the 3rd quarter. State Street Corp now owns 33,057,629 shares of the company’s stock worth $1,894,202,000 after acquiring an additional 2,110,681 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Kroger by 0.8% during the third quarter. Geode Capital Management LLC now owns 16,019,726 shares of the company’s stock worth $914,795,000 after purchasing an additional 126,303 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Kroger by 0.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,164,855 shares of the company’s stock valued at $353,246,000 after purchasing an additional 37,222 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of Kroger by 96.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,381,311 shares of the company’s stock worth $268,689,000 after purchasing an additional 2,643,811 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Kroger by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,890,887 shares of the company’s stock worth $280,248,000 after buying an additional 53,006 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Kroger Price Performance

Shares of NYSE KR opened at $60.50 on Tuesday. 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 firm’s 50 day simple moving average is $60.17 and its 200-day simple moving average is $56.85. The Kroger Co. has a 12 month low of $44.48 and a 12 month high of $63.59. The stock has a market capitalization of $43.78 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 2.76 and a beta of 0.48.

Kroger (NYSE:KR) last released its quarterly earnings data on Thursday, December 5th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. Kroger had a net margin of 1.85% and a return on equity of 27.73%. The company had revenue of $33.63 billion during the quarter, compared to analysts’ expectations of $34.19 billion. During the same quarter in the previous year, the company earned $0.95 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. Analysts expect that The Kroger Co. will post 4.44 EPS for the current year.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Bank of America raised their price target on Kroger from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Guggenheim initiated coverage on shares of Kroger in a research note on Thursday, December 19th. They issued a “buy” rating and a $68.00 target price for the company. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Kroger in a report on Monday, December 23rd. Morgan Stanley boosted their price objective on shares of Kroger from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Finally, Roth Mkm lifted their price target on Kroger from $52.00 to $56.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Seven research 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.80.

Insider Buying and Selling

In related news, CFO Todd A. Foley sold 16,932 shares of the business’s 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 completion of the sale, the chief financial officer now owns 53,782 shares of the company’s stock, valued at approximately $3,304,366.08. The trade was a 23.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Yael Cosset sold 20,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $58.39, for a total transaction of $1,167,800.00. Following the transaction, the senior vice president now owns 144,620 shares of the company’s stock, valued at $8,444,361.80. This represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 195,448 shares of company stock valued at $12,143,923. 1.40% of the stock is owned by company insiders.

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.