The Kroger Co. (NYSE:KR) Position Increased by Toronto Dominion Bank

Toronto Dominion Bank lifted its holdings in The Kroger Co. (NYSE:KR) by 8.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 354,210 shares of the company’s stock after acquiring an additional 26,231 shares during the quarter. Toronto Dominion Bank’s holdings in Kroger were worth $20,296,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of KR. Charles Schwab Investment Management Inc. increased its position in Kroger by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,890,887 shares of the company’s stock worth $280,248,000 after purchasing an additional 53,006 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Kroger by 1.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,176,218 shares of the company’s stock valued at $124,697,000 after acquiring an additional 36,083 shares during the period. Lighthouse Investment Partners LLC acquired a new stake in Kroger in the 2nd quarter worth $10,336,000. Buck Wealth Strategies LLC acquired a new stake in Kroger during the second quarter worth about $6,524,000. Finally, Groupama Asset Managment raised its stake in shares of Kroger by 16.0% in the third quarter. Groupama Asset Managment now owns 138,914 shares of the company’s stock valued at $80,000 after purchasing an additional 19,186 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KR. Jefferies Financial Group raised Kroger from a “hold” rating to a “buy” rating and lifted their price objective for the company from $54.00 to $73.00 in a report on Tuesday, December 3rd. BMO Capital Markets upped their target price on shares of Kroger from $60.00 to $63.00 and gave the stock a “market perform” rating in a research report on Thursday. BNP Paribas assumed coverage on Kroger in a report on Friday, October 18th. They issued a “neutral” rating and a $56.00 price target on the stock. UBS Group lifted their target price on shares of Kroger from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Wells Fargo & Company upped their price target on Kroger from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $64.31.

Insiders Place Their Bets

In related news, VP Carin L. Fike sold 3,010 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $55.57, for a total transaction of $167,265.70. Following the sale, the vice president now owns 47,593 shares in the company, valued at approximately $2,644,743.01. This trade represents a 5.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Valerie L. Jabbar sold 3,000 shares of Kroger stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $55.91, for a total value of $167,730.00. Following the completion of the transaction, the senior vice president now owns 74,084 shares in the company, valued at approximately $4,142,036.44. The trade was a 3.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,821 shares of company stock worth $3,445,490 over the last three months. Insiders own 1.40% of the company’s stock.

Kroger Trading Up 3.2 %

Kroger stock opened at $63.30 on Friday. 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 has a 50-day moving average of $58.00 and a 200-day moving average of $54.75. The company has a market cap of $45.80 billion, a price-to-earnings ratio of 16.75, a P/E/G ratio of 0.96 and a beta of 0.48. The Kroger Co. has a one year low of $43.51 and a one year high of $63.59.

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

Kroger Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 15th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Friday, November 15th. Kroger’s payout ratio is presently 33.86%.

Kroger announced that its Board of Directors 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 repurchase up to 16.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.