Gradient Investments LLC Sells 421 Shares of The Kroger Co. (NYSE:KR)

Posted by Defense World Staff on Mar 19th, 2023

Gradient Investments LLC trimmed its position in The Kroger Co. (NYSE:KR – Get Rating) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,195 shares of the company’s stock after selling 421 shares during the period. Gradient Investments LLC’s holdings in Kroger were worth $722,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. United Capital Financial Advisers LLC lifted its holdings in shares of Kroger by 1.9% in the first quarter. United Capital Financial Advisers LLC now owns 11,571 shares of the company’s stock valued at $664,000 after purchasing an additional 221 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Kroger by 9.0% in the third quarter. EverSource Wealth Advisors LLC now owns 2,687 shares of the company’s stock valued at $117,000 after acquiring an additional 222 shares during the last quarter. IHT Wealth Management LLC increased its position in shares of Kroger by 3.4% in the first quarter. IHT Wealth Management LLC now owns 6,693 shares of the company’s stock valued at $384,000 after acquiring an additional 222 shares during the last quarter. Costello Asset Management INC increased its position in shares of Kroger by 2.3% in the third quarter. Costello Asset Management INC now owns 10,225 shares of the company’s stock valued at $447,000 after acquiring an additional 225 shares during the last quarter. Finally, Truepoint Inc. increased its position in shares of Kroger by 2.9% in the third quarter. Truepoint Inc. now owns 8,391 shares of the company’s stock valued at $367,000 after acquiring an additional 238 shares during the last quarter. 78.03% of the stock is currently owned by institutional investors.

Kroger Price Performance

Kroger stock opened at $46.78 on Friday. The Kroger Co. has a 12 month low of $41.81 and a 12 month high of $62.78. The stock’s 50 day moving average is $45.15 and its 200-day moving average is $45.87. The company has a current ratio of 0.76, a quick ratio of 0.30 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $33.49 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 1.74 and a beta of 0.47.

Kroger (NYSE:KR – Get Rating) last posted its earnings results on Thursday, March 2nd. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.90 by $0.09. Kroger had a return on equity of 31.84% and a net margin of 1.51%. The company had revenue of $34.82 billion for the quarter, compared to the consensus estimate of $34.89 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts expect that The Kroger Co. will post 4.53 EPS for the current year.

Kroger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Monday, May 15th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Friday, May 12th. Kroger’s payout ratio is 33.88%.

Insider Activity

In other news, VP Todd A. Foley sold 3,885 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $46.95, for a total value of $182,400.75. Following the transaction, the vice president now owns 28,456 shares of the company’s stock, valued at $1,336,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Mary Ellen Adcock sold 43,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $44.27, for a total value of $1,903,610.00. Following the completion of the sale, the senior vice president now directly owns 135,611 shares in the company, valued at $6,003,498.97. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Todd A. Foley sold 3,885 shares of the business’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $46.95, for a total value of $182,400.75. Following the completion of the sale, the vice president now owns 28,456 shares of the company’s stock, valued at $1,336,009.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,299 shares of company stock valued at $5,124,089. 1.35% of the stock is owned by insiders.

Analyst Ratings Changes

KR has been the topic of a number of recent research reports. Morgan Stanley lifted their target price on Kroger from $46.00 to $49.00 and gave the company an “equal weight” rating in a research report on Friday, March 3rd. StockNews.com initiated coverage on Kroger in a research report on Thursday. They issued a “buy” rating on the stock. Wells Fargo & Company lowered their target price on Kroger from $47.00 to $42.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 4th. JPMorgan Chase & Co. raised Kroger from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $50.00 to $54.00 in a research report on Friday, March 3rd. Finally, Jefferies Financial Group lifted their target price on Kroger from $45.00 to $50.00 in a research report on Monday, December 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $53.25.

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.