abrdn plc decreased its holdings in shares of The Kroger Co. (NYSE:KR - Free Report) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 828,403 shares of the company's stock after selling 30,913 shares during the period. abrdn plc owned 0.11% of Kroger worth $50,669,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new stake in Kroger in the third quarter worth $34,000. Adirondack Trust Co. raised its holdings in Kroger by 1,628.1% in the 4th quarter. Adirondack Trust Co. now owns 553 shares of the company's stock worth $34,000 after purchasing an additional 521 shares in the last quarter. Crews Bank & Trust purchased a new stake in shares of Kroger in the 4th quarter worth about $39,000. Harbor Capital Advisors Inc. purchased a new position in shares of Kroger during the third quarter valued at about $40,000. Finally, Capital Performance Advisors LLP bought a new position in Kroger in the third quarter worth about $43,000. Hedge funds and other institutional investors own 80.93% of the company's stock.
Shares of KR stock opened at $64.03 on Wednesday. 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 Kroger Co. has a 12-month low of $44.48 and a 12-month high of $64.90. The stock has a market capitalization of $46.33 billion, a P/E ratio of 16.94, a P/E/G ratio of 2.90 and a beta of 0.47. The firm's 50 day moving average is $60.49 and its 200 day moving average is $57.19.
Kroger (NYSE:KR - Get Free Report) last released its quarterly earnings results on Thursday, December 5th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.01. The firm had revenue of $33.63 billion for 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 company's revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the business posted $0.95 EPS. Research analysts expect that The Kroger Co. will post 4.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, February 14th. Kroger's payout ratio is currently 33.86%.
Kroger declared that its board has authorized a share buyback program on Wednesday, December 11th that permits the company to repurchase $7.50 billion in shares. This repurchase authorization permits the company to repurchase up to 16.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.
KR has been the topic of a number of research analyst reports. Guggenheim started coverage on Kroger in a report on Thursday, December 19th. They set a "buy" rating and a $68.00 target price on the stock. Citigroup reaffirmed a "neutral" rating and issued a $61.00 price target on shares of Kroger in a research note on Friday, January 24th. Bank of America raised their price objective on Kroger from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $70.00 target price on shares of Kroger in a research report on Monday, December 23rd. Finally, Wells Fargo & Company lifted their price target on shares of Kroger from $70.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, December 12th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.06.
View Our Latest Report on Kroger
In related news, CFO Todd A. Foley sold 16,932 shares of the firm's stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $61.44, for a total value of $1,040,302.08. Following the transaction, the chief financial officer now directly owns 53,782 shares of the company's stock, valued at approximately $3,304,366.08. This trade represents a 23.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Yael Cosset sold 20,000 shares of the business's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $58.39, for a total value of $1,167,800.00. Following the sale, the senior vice president now directly owns 144,620 shares of the company's stock, valued at $8,444,361.80. This represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 195,448 shares of company stock worth $12,143,923 in the last quarter. Company insiders own 1.40% of the company's stock.
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.
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