Park Avenue Securities LLC Raises Holdings in The Kroger Co. (NYSE:KR)

Park Avenue Securities LLC boosted its holdings in shares of The Kroger Co. (NYSE:KR) by 10.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 36,516 shares of the company’s stock after acquiring an additional 3,441 shares during the quarter. Park Avenue Securities LLC’s holdings in Kroger were worth $2,472,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Sovereign Investment Advisors LLC acquired a new stake in shares of Kroger during the fourth quarter worth $351,000. Proficio Capital Partners LLC acquired a new stake in shares of Kroger during the fourth quarter worth $223,000. Coordinated Financial Services Inc. acquired a new stake in shares of Kroger during the fourth quarter worth $282,000. Principal Securities Inc. lifted its stake in shares of Kroger by 20.9% during the fourth quarter. Principal Securities Inc. now owns 7,415 shares of the company’s stock worth $453,000 after buying an additional 1,280 shares during the period. Finally, Mitchell Capital Management Co. acquired a new stake in shares of Kroger during the fourth quarter worth $5,870,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on KR. Citigroup raised their target price on shares of Kroger from $61.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, March 7th. JPMorgan Chase & Co. raised their target price on shares of Kroger from $72.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Telsey Advisory Group reissued an “outperform” rating and set a $73.00 target price on shares of Kroger in a report on Monday, March 3rd. Evercore ISI raised their target price on shares of Kroger from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. Finally, Roth Capital set a $58.00 target price on shares of Kroger in a report on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.06.

Kroger Stock Down 0.2%

Kroger stock opened at $65.37 on Wednesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.07 and a current ratio of 1.54. The firm has a market capitalization of $43.20 billion, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 2.85 and a beta of 0.58. The Kroger Co. has a fifty-two week low of $49.04 and a fifty-two week high of $73.63. The stock’s fifty day moving average is $68.97 and its two-hundred day moving average is $64.91.

Kroger Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Thursday, May 15th. Kroger’s payout ratio is currently 34.88%.

Insider Activity at Kroger

In other Kroger news, EVP Christine S. Wheatley sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $72.07, for a total value of $2,162,100.00. Following the sale, the executive vice president now directly owns 97,737 shares of the company’s stock, valued at approximately $7,043,905.59. This trade represents a 23.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Valerie L. Jabbar sold 31,271 shares of the firm’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $69.08, for a total value of $2,160,200.68. Following the completion of the sale, the senior vice president now directly owns 82,684 shares in the company, valued at approximately $5,711,810.72. The trade was a 27.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,669 shares of company stock valued at $13,155,425 over the last quarter. Insiders own 0.44% of the company’s stock.

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.