Yael Cosset Sells 17,685 Shares of The Kroger Co. (NYSE:KR) Stock

Yael Cosset, Senior Vice President of The Kroger Co. (NYSE:KR - Get Free Report), executed a sale of 17,685 shares of the company's stock on Monday, March 17th. The shares were sold at an average price of $66.19, resulting in a total transaction value of $1,170,570.15. Following this sale, Cosset retains ownership of 139,124 shares in the company, with a total estimated worth of around $9,208,617.56. This trade signifies an 11.28% reduction in Cosset's holdings.

Kroger Stock Performance Overview

On Wednesday, shares of Kroger opened at $65.94. The company has a 50-day moving average of $62.99 and a 200-day moving average of $59.70. Notably, Kroger has a current ratio of 1.54, a quick ratio of 1.07, and a debt-to-equity ratio of 1.74. The company's market capitalization stands at $47.71 billion, with a price-to-earnings (P/E) ratio of 17.44. Over the past year, Kroger's stock has fluctuated between a low of $49.04 and a high of $68.51.

Kroger Quarterly Earnings Report

Kroger recently announced its quarterly earnings results on March 6th, revealing earnings per share (EPS) of $1.14, which surpassed the analysts' consensus estimate of $1.09 by $0.05. The company reported a net margin of 1.85% and returned 27.73% on equity. Revenue for the quarter was $34.31 billion, slightly below the $34.96 billion predicted by analysts. Predictions suggest that Kroger will achieve an EPS of 4.44 for the current fiscal year.

Kroger Dividend Announcement

The Kroger Co. has also declared a quarterly dividend of $0.32 per share, which will be distributed on Sunday, June 1st, for shareholders recorded on Thursday, May 15th. This dividend symbolizes an annualized payout of $1.28, resulting in a dividend yield of 1.94%. Currently, Kroger's payout ratio is at 34.88%.

Share Buyback Program

In a significant move, the Board of Directors of Kroger approved a stock buyback program that was announced on December 11th. This plan allows the company to repurchase up to $7.50 billion in shares, representing approximately 16.9% of its shares outstanding. Share buyback initiatives typically indicate that corporate management believes the stock price is undervalued.

Institutional Holdings and Changes

Recently, several institutional investors have adjusted their stakes in Kroger. For instance, Vanguard Group Inc. increased its position by 0.9% during the last quarter, now holding 82,223,697 shares valued at approximately $5.03 billion. State Street Corp raised its holding by 6.8%, acquiring an additional 2,110,681 shares, resulting in a total of 33,057,629 shares worth about $1.89 billion. Other firms like Geode Capital Management and Dimensional Fund Advisors have also increased their positions. Currently, institutional investors hold approximately 80.93% of Kroger's stock.

Analyst Ratings and Stock Forecasts

Brokerage firms have shared their insights on Kroger. Wells Fargo & Company recently upped their price target for the stock from $70.00 to $73.00, assigning it an “overweight” rating. The Goldman Sachs Group reiterated a “buy” rating with a target price of $70.00. Other analysts have raised their price targets and ratings, with seven analysts suggesting a “hold,” ten recommending “buy,” and one rating it as a “strong buy.” The consensus rating for Kroger is currently classified as a "Moderate Buy" with an average price target of $66.88.

About The Kroger Co.

The Kroger Co. operates as a prominent food and drug retailer in the United States, running a variety of retail formats including combination food and drug stores, multi-department stores, and marketplace formats. These stores offer a wide range of products from groceries and medications to household items and apparel.

Kroger, Stocks, Investment