Lincoln National Corp trimmed its position in shares of Kroger Co (NYSE:KR) by 49.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,953 shares of the company’s stock after selling 9,802 shares during the quarter. Lincoln National Corp’s holdings in Kroger were worth $238,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in KR. Schwab Charles Investment Management Inc. boosted its position in shares of Kroger by 4.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,879,362 shares of the company’s stock worth $106,489,000 after purchasing an additional 167,013 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Kroger by 375.6% during the fourth quarter. Acadian Asset Management LLC now owns 8,609 shares of the company’s stock worth $236,000 after purchasing an additional 6,799 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Kroger by 6.6% during the fourth quarter. Fisher Asset Management LLC now owns 193,164 shares of the company’s stock worth $5,302,000 after purchasing an additional 11,997 shares in the last quarter. Boston Advisors LLC boosted its position in shares of Kroger by 6.3% during the fourth quarter. Boston Advisors LLC now owns 127,942 shares of the company’s stock worth $3,512,000 after purchasing an additional 7,553 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Kroger by 21.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 122,802 shares of the company’s stock worth $3,371,000 after purchasing an additional 22,078 shares in the last quarter. 76.73% of the stock is currently owned by institutional investors.
KR opened at $24.61 on Friday. The firm has a market capitalization of $19.75 billion, a P/E ratio of 12.06, a P/E/G ratio of 2.02 and a beta of 1.03. Kroger Co has a 12 month low of $19.69 and a 12 month high of $31.45. The company has a current ratio of 0.78, a quick ratio of 0.32 and a debt-to-equity ratio of 1.74.
Kroger announced that its Board of Directors has approved a stock repurchase program on Thursday, March 15th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Tuesday, May 15th will be given a dividend of $0.125 per share. The ex-dividend date is Monday, May 14th. This represents a $0.50 annualized dividend and a yield of 2.03%. Kroger’s dividend payout ratio (DPR) is presently 24.51%.
In other Kroger news, VP Todd A. Foley sold 3,800 shares of the business’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $24.43, for a total transaction of $92,834.00. Following the sale, the vice president now directly owns 31,273 shares of the company’s stock, valued at approximately $763,999.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.07% of the company’s stock.
KR has been the topic of a number of recent analyst reports. Bank of America reduced their price target on shares of Kroger from $33.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, March 9th. ValuEngine cut shares of Kroger from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. TheStreet cut shares of Kroger from a “b” rating to a “c+” rating in a research report on Monday, March 5th. Credit Suisse Group initiated coverage on shares of Kroger in a research report on Tuesday, April 17th. They set an “outperform” rating and a $28.00 price target on the stock. Finally, Zacks Investment Research raised shares of Kroger from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $27.48.
The Kroger Co, together with its subsidiaries, operates as a retailer in the United States. It also manufactures and processes food products for sale in its supermarkets. The company operates supermarkets, multi-department stores, jewelry stores, and convenience stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; multi-department stores provide general merchandise items, such as apparel, home fashion and furnishings, outdoor living, electronics, automotive products, toys, and fine jewelry; and price impact warehouse stores offer grocery, and health and beauty care items, as well as meat, dairy, baked goods, and fresh produce items.
Want to see what other hedge funds are holding KR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kroger Co (NYSE:KR).
Receive News & Ratings for Kroger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kroger and related companies with MarketBeat.com's FREE daily email newsletter.