Lindbrook Capital LLC Grows Position in The Kroger Co. (NYSE:KR)

Posted by Defense World Staff on Apr 6th, 2023

Lindbrook Capital LLC increased its position in shares of The Kroger Co. (NYSE:KR – Get Rating) by 9.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,044 shares of the company’s stock after acquiring an additional 360 shares during the quarter. Lindbrook Capital LLC’s holdings in Kroger were worth $180,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Accurate Wealth Management LLC acquired a new position in shares of Kroger during the 4th quarter valued at about $27,000. McClarren Financial Advisors Inc. acquired a new position in shares of Kroger during the 3rd quarter valued at about $27,000. Retirement Financial Solutions LLC acquired a new position in shares of Kroger during the 4th quarter valued at about $30,000. RFP Financial Group LLC acquired a new position in Kroger in the fourth quarter valued at about $31,000. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new position in Kroger in the third quarter valued at about $43,000. Institutional investors and hedge funds own 78.03% of the company’s stock.

Kroger Stock Performance

Shares of Kroger stock opened at $48.06 on Thursday. The firm has a market capitalization of $34.48 billion, a P/E ratio of 15.65, a P/E/G ratio of 1.82 and a beta of 0.46. The Kroger Co. has a 52 week low of $41.81 and a 52 week high of $62.78. The company has a quick ratio of 0.30, a current ratio of 0.74 and a debt-to-equity ratio of 1.21. The firm’s 50 day moving average is $46.06 and its two-hundred day moving average is $45.85.

Kroger (NYSE:KR – Get Rating) last announced its quarterly 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. The company had revenue of $34.82 billion for the quarter, compared to analyst estimates of $34.89 billion. Kroger had a net margin of 1.51% and a return on equity of 31.84%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 earnings per share. Research analysts forecast that The Kroger Co. will post 4.53 EPS for the current fiscal year.

Kroger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Monday, May 15th will be paid a $0.26 dividend. The ex-dividend date is Friday, May 12th. This represents a $1.04 annualized dividend and a yield of 2.16%. Kroger’s dividend payout ratio is currently 33.88%.

Insider Activity

In other news, SVP Valerie L. Jabbar sold 62,414 shares of the stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $46.47, for a total value of $2,900,378.58. Following the completion of the sale, the senior vice president now directly owns 63,079 shares of the company’s stock, valued at $2,931,281.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Valerie L. Jabbar sold 62,414 shares of the stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $46.47, for a total value of $2,900,378.58. Following the completion of the sale, the senior vice president now directly owns 63,079 shares of the company’s stock, valued at $2,931,281.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Carin L. Fike sold 3,000 shares of the stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $45.90, for a total value of $137,700.00. Following the completion of the sale, the vice president now directly owns 40,147 shares of the company’s stock, valued at $1,842,747.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,481 shares of company stock valued at $5,928,025. 1.35% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Roth Capital reaffirmed a “neutral” rating on shares of Kroger in a research report on Friday, March 3rd. Morgan Stanley upped their target price on shares of Kroger from $46.00 to $49.00 and gave the company an “equal weight” rating in a research report on Friday, March 3rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Kroger from $51.00 to $53.00 and gave the company a “hold” rating in a research report on Friday, March 3rd. Wells Fargo & Company decreased their target price 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. Finally, Northcoast Research raised shares of Kroger from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Monday, March 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Kroger currently has an average rating of “Moderate Buy” and an average target price of $53.65.

About Kroger

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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.