Belpointe Asset Management LLC Invests $531,000 in Kroger (NYSE:KR)

Belpointe Asset Management LLC acquired a new stake in Kroger (NYSE:KR) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 19,356 shares of the company’s stock, valued at approximately $531,000.

Several other large investors also recently added to or reduced their stakes in KR. Sanders Capital LLC acquired a new position in shares of Kroger in the fourth quarter valued at about $293,538,000. Artisan Partners Limited Partnership acquired a new position in shares of Kroger in the third quarter valued at about $119,454,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Kroger in the fourth quarter valued at about $89,873,000. Alliancebernstein L.P. grew its stake in shares of Kroger by 70.1% in the fourth quarter. Alliancebernstein L.P. now owns 4,645,757 shares of the company’s stock valued at $127,526,000 after acquiring an additional 1,914,070 shares in the last quarter. Finally, Minneapolis Portfolio Management Group LLC acquired a new position in shares of Kroger in the fourth quarter valued at about $49,450,000. Hedge funds and other institutional investors own 75.69% of the company’s stock.

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KR has been the topic of several research reports. Bank of America decreased their price target on shares of Kroger from $33.00 to $28.00 and set a “neutral” rating on the stock in a research note on Friday, March 9th. Citigroup upped their price objective on shares of Kroger from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, December 26th. ValuEngine cut shares of Kroger from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research cut shares of Kroger from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, TheStreet cut shares of Kroger from a “b” rating to a “c+” rating in a research report on Monday, March 5th. Seventeen investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $27.14.

Shares of KR stock traded down $0.04 on Friday, reaching $23.77. The company had a trading volume of 8,797,966 shares, compared to its average volume of 10,132,233. The stock has a market capitalization of $20,949.97, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 1.97 and a beta of 1.04. 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 has a one year low of $19.69 and a one year high of $31.45.

Kroger (NYSE:KR) last released its quarterly earnings data on Thursday, March 8th. The company reported $0.63 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.63. Kroger had a return on equity of 29.27% and a net margin of 1.55%. The company had revenue of $31.03 billion during the quarter, compared to the consensus estimate of $30.81 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The firm’s revenue was up 12.4% compared to the same quarter last year. equities analysts predict that Kroger will post 2.06 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Tuesday, May 15th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Monday, May 14th. Kroger’s dividend payout ratio is currently 24.51%.

Kroger announced that its board has authorized a share repurchase plan on Thursday, March 15th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

In other news, insider Christopher T. Hjelm sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $30.64, for a total value of $245,120.00. Following the completion of the transaction, the insider now owns 251,784 shares of the company’s stock, valued at $7,714,661.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael Joseph Donnelly sold 40,000 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $30.64, for a total transaction of $1,225,600.00. Following the sale, the vice president now directly owns 319,124 shares of the company’s stock, valued at approximately $9,777,959.36. The disclosure for this sale can be found here. Insiders sold 62,800 shares of company stock valued at $1,888,824 in the last ninety days. 0.85% of the stock is currently owned by insiders.

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Kroger Profile

The Kroger Co, together with its subsidiaries, operates as a retailer in the United States. It also manufactures and processes food for sale in its supermarkets. The company operates retail food and drug stores, 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.

Institutional Ownership by Quarter for Kroger (NYSE:KR)

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