Allspring Global Investments Holdings LLC Sells 191,736 Shares of The Kroger Co. (NYSE:KR)

Allspring Global Investments Holdings LLC trimmed its position in The Kroger Co. (NYSE:KR) by 79.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,301 shares of the company’s stock after selling 191,736 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Kroger were worth $2,759,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Oak Thistle LLC bought a new position in shares of Kroger in the first quarter valued at $372,000. Hexagon Capital Partners LLC lifted its stake in shares of Kroger by 101.6% in the first quarter. Hexagon Capital Partners LLC now owns 496 shares of the company’s stock valued at $28,000 after buying an additional 250 shares in the last quarter. Trilogy Capital Inc. bought a new position in shares of Kroger in the first quarter valued at $344,000. Founders Financial Securities LLC bought a new position in shares of Kroger in the first quarter valued at $460,000. Finally, Home Federal Bank of Tennessee bought a new position in shares of Kroger in the first quarter valued at $224,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wolfe Research raised shares of Kroger to a “strong-buy” rating in a research note on Friday, June 21st. StockNews.com raised shares of Kroger from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Morgan Stanley dropped their price target on shares of Kroger from $58.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Monday, June 24th. Guggenheim upped their price objective on shares of Kroger from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Finally, BNP Paribas reissued an “underperform” rating and set a $48.00 target price on shares of Kroger in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.30.

Kroger Stock Performance

Shares of KR opened at $50.43 on Wednesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.45. The firm has a market cap of $36.39 billion, a PE ratio of 17.21, a PEG ratio of 0.78 and a beta of 0.45. The Kroger Co. has a 1 year low of $42.10 and a 1 year high of $58.34. The stock’s fifty day moving average price is $52.93 and its two-hundred day moving average price is $51.02.

Kroger (NYSE:KR) last announced its quarterly earnings data on Thursday, June 20th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. The business had revenue of $45.27 billion for the quarter, compared to analysts’ expectations of $44.86 billion. Kroger had a return on equity of 29.89% and a net margin of 1.43%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.51 EPS. On average, equities research analysts forecast that The Kroger Co. will post 4.44 EPS for the current year.

Kroger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Thursday, August 15th will be paid a $1.28 dividend. This represents a $5.12 dividend on an annualized basis and a yield of 10.15%. This is a positive change from Kroger’s previous quarterly dividend of $0.29. The ex-dividend date is Thursday, August 15th. Kroger’s payout ratio is currently 39.59%.

Insider Buying and Selling at Kroger

In related news, VP Carin L. Fike sold 3,929 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $57.03, for a total transaction of $224,070.87. Following the sale, the vice president now directly owns 3,768 shares in the company, valued at approximately $214,889.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Todd A. Foley sold 6,616 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $55.69, for a total value of $368,445.04. Following the transaction, the chief financial officer now owns 46,958 shares of the company’s stock, valued at $2,615,091.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Carin L. Fike sold 3,929 shares of Kroger stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $57.03, for a total value of $224,070.87. Following the sale, the vice president now directly owns 3,768 shares of the company’s stock, valued at approximately $214,889.04. The disclosure for this sale can be found here. Insiders have sold 55,796 shares of company stock valued at $3,118,767 in the last 90 days. 1.40% of the stock is currently owned by company insiders.

Kroger Company Profile

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.