The Kroger Co. (NYSE:KR) Stock Position Cut by Boothbay Fund Management LLC

Posted by on Mar 4th, 2023

Boothbay Fund Management LLC lessened its stake in The Kroger Co. (NYSE:KR – Get Rating) by 53.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,822 shares of the company’s stock after selling 7,824 shares during the period. Boothbay Fund Management LLC’s holdings in Kroger were worth $298,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of KR. McClarren Financial Advisors Inc. acquired a new stake in Kroger in the 3rd quarter valued at about $27,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in Kroger during the third quarter valued at about $43,000. Tortoise Investment Management LLC lifted its stake in Kroger by 1,377.3% during the third quarter. Tortoise Investment Management LLC now owns 1,108 shares of the company’s stock valued at $48,000 after buying an additional 1,033 shares in the last quarter. Old North State Trust LLC purchased a new stake in Kroger during the third quarter valued at about $64,000. Finally, Investors Asset Management of Georgia Inc. GA ADV purchased a new stake in Kroger during the third quarter valued at about $66,000. 78.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Kroger

In other news, SVP Mary Ellen Adcock sold 43,000 shares of the company’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 value 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 $6,003,498.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.35% of the company’s stock.

Analysts Set New Price Targets

KR has been the subject of a number of analyst reports. Sanford C. Bernstein initiated coverage on shares of Kroger in a research note on Tuesday, December 6th. They set an “outperform” rating and a $58.00 price objective for the company. MKM Partners reduced their price objective on shares of Kroger from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Monday, December 5th. UBS Group reduced their price objective on shares of Kroger from $57.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, December 2nd. Jefferies Financial Group upped their target price on Kroger from $45.00 to $50.00 in a report on Monday, December 5th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Kroger from $51.00 to $53.00 and gave the company a “hold” rating in a report on Friday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $54.18.

Kroger Trading Up 0.5 %

KR opened at $45.98 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.76 and a quick ratio of 0.27. The company has a market cap of $32.91 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 1.68 and a beta of 0.47. The firm has a 50 day simple moving average of $44.73 and a 200 day simple moving average of $46.03. The Kroger Co. has a fifty-two week low of $41.81 and a fifty-two week high of $62.78.

Kroger (NYSE:KR – Get Rating) last posted its quarterly earnings results on Thursday, March 2nd. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.09. The business had revenue of $34.82 billion during the quarter, compared to the consensus estimate of $34.89 billion. Kroger had a net margin of 1.61% and a return on equity of 31.92%. Kroger’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 earnings per share. On average, sell-side analysts anticipate that The Kroger Co. will post 4.14 earnings per share for the current year.

Kroger Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Wednesday, February 15th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.26%. The ex-dividend date was Tuesday, February 14th. Kroger’s payout ratio is presently 32.50%.

Kroger Company 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.

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Institutional Ownership by Quarter for Kroger (NYSE:KR)

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