Oppenheimer & Co. Inc. Sells 8,401 Shares of The Kroger Co. (NYSE:KR)

Posted by Defense World Staff on Feb 25th, 2023

Oppenheimer & Co. Inc. cut its stake in The Kroger Co. (NYSE:KR – Get Rating) by 43.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,022 shares of the company’s stock after selling 8,401 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Kroger were worth $482,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. United Capital Financial Advisers LLC increased its position in Kroger by 1.9% during the first quarter. United Capital Financial Advisers LLC now owns 11,571 shares of the company’s stock worth $664,000 after acquiring an additional 221 shares during the period. EverSource Wealth Advisors LLC increased its position in Kroger by 9.0% during the third quarter. EverSource Wealth Advisors LLC now owns 2,687 shares of the company’s stock worth $117,000 after acquiring an additional 222 shares during the period. IHT Wealth Management LLC increased its position in Kroger by 3.4% during the first quarter. IHT Wealth Management LLC now owns 6,693 shares of the company’s stock worth $384,000 after acquiring an additional 222 shares during the period. Costello Asset Management INC increased its position in Kroger by 2.3% during the third quarter. Costello Asset Management INC now owns 10,225 shares of the company’s stock worth $447,000 after acquiring an additional 225 shares during the period. Finally, Glassman Wealth Services increased its position in Kroger by 15.7% during the second quarter. Glassman Wealth Services now owns 1,705 shares of the company’s stock worth $81,000 after acquiring an additional 231 shares during the period. 78.03% of the stock is owned by institutional investors.

Insider Activity at Kroger

In other Kroger news, SVP Mary Ellen Adcock sold 43,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $44.27, for a total transaction of $1,903,610.00. Following the completion of the transaction, the senior vice president now owns 135,611 shares in the company, valued at approximately $6,003,498.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Carin L. Fike sold 5,779 shares of Kroger stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $47.72, for a total value of $275,773.88. Following the completion of the sale, the vice president now owns 5,320 shares in the company, valued at approximately $253,870.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mary Ellen Adcock sold 43,000 shares of Kroger stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $44.27, for a total transaction of $1,903,610.00. Following the completion of the sale, the senior vice president now owns 135,611 shares of the company’s stock, valued at approximately $6,003,498.97. The disclosure for this sale can be found here. 1.35% of the stock is owned by company insiders.

Kroger Stock Down 0.4 %

Shares of NYSE KR opened at $43.75 on Friday. The company has a 50 day simple moving average of $44.79 and a 200 day simple moving average of $46.12. The firm has a market cap of $31.32 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 1.73 and a beta of 0.49. The Kroger Co. has a 1 year low of $41.81 and a 1 year high of $62.78. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.76 and a quick ratio of 0.27.

Kroger (NYSE:KR – Get Rating) last issued its quarterly earnings data on Thursday, December 1st. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. The business had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.92 billion. Kroger had a net margin of 1.61% and a return on equity of 31.92%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business earned $0.78 EPS. On average, research analysts forecast that The Kroger Co. will post 4.13 EPS for the current year.

Kroger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Wednesday, February 15th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, February 14th. This represents a $1.04 dividend on an annualized basis and a yield of 2.38%. Kroger’s dividend payout ratio (DPR) is presently 32.50%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on KR shares. Wells Fargo & Company lowered their price target on shares of Kroger from $47.00 to $42.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 4th. MKM Partners reduced their price objective on shares of Kroger from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Monday, December 5th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Kroger from $54.00 to $56.00 and gave the stock a “hold” rating in a research note on Tuesday, November 29th. Evercore ISI upgraded shares of Kroger from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $49.00 to $56.00 in a research note on Wednesday, November 9th. Finally, Morgan Stanley upgraded shares of Kroger from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $44.00 to $46.00 in a research note on Tuesday, January 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $54.18.

Kroger Profile

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The Kroger Co engages in the operation of supermarkets and multi-department stores. Its brands include Big K, Check This Out?, Heritage Farm, Simple Truth, and Simple Truth Organic. The company was founded by Barney Kroger in 1883 and is headquartered in Cincinnati, OH.