Kingsview Wealth Management LLC Lowers Stock Holdings in The Kroger Co. (NYSE:KR)

Posted by on Jun 12th, 2023

Kingsview Wealth Management LLC lowered its holdings in shares of The Kroger Co. (NYSE:KR – Get Rating) by 14.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,952 shares of the company’s stock after selling 1,009 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Kroger were worth $265,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in KR. Accurate Wealth Management LLC acquired a new stake in shares of Kroger in the fourth quarter valued at approximately $27,000. Farmers & Merchants Investments Inc. purchased a new position in Kroger in the fourth quarter worth approximately $29,000. Retirement Financial Solutions LLC purchased a new position in Kroger in the fourth quarter worth approximately $30,000. RFP Financial Group LLC purchased a new position in Kroger in the fourth quarter worth approximately $31,000. Finally, Horizon Bancorp Inc. IN purchased a new position in Kroger in the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 78.03% of the company’s stock.

Kroger Trading Down 0.1 %

Shares of Kroger stock traded down $0.05 during trading hours on Monday, reaching $46.12. 1,685,893 shares of the company’s stock were exchanged, compared to its average volume of 5,298,559. The company has a current ratio of 0.74, a quick ratio of 0.30 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $33.10 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.70 and a beta of 0.47. The company has a fifty day moving average of $48.06 and a 200-day moving average of $46.62. The Kroger Co. has a 52-week low of $41.81 and a 52-week high of $52.00.

Insider Buying and Selling at Kroger

In other Kroger news, VP Todd A. Foley sold 3,885 shares of the firm’s stock in a transaction dated 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 directly owns 28,456 shares of the company’s stock, valued at $1,336,009.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Christine S. Wheatley sold 25,000 shares of Kroger stock in a transaction dated Thursday, April 20th. The stock was sold at an average price of $47.49, for a total value of $1,187,250.00. Following the completion of the transaction, the vice president now directly owns 126,866 shares in the company, valued at $6,024,866.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Todd A. Foley sold 3,885 shares of Kroger stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $46.95, for a total value of $182,400.75. Following the completion of the transaction, 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. Insiders have sold 136,091 shares of company stock valued at $6,584,518 over the last three months. 1.38% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

KR has been the subject of several research analyst reports. Northcoast Research upgraded Kroger from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Monday, March 20th. JPMorgan Chase & Co. upgraded Kroger from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $50.00 to $54.00 in a research report on Friday, March 3rd. Deutsche Bank Aktiengesellschaft raised their price target on Kroger from $51.00 to $53.00 and gave the stock a “hold” rating in a research report on Friday, March 3rd. StockNews.com upgraded Kroger from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Morgan Stanley lifted their target price on Kroger from $46.00 to $49.00 and gave the company an “equal weight” rating in a report on Friday, March 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Kroger has a consensus rating of “Moderate Buy” and a consensus target price of $52.31.

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.

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Institutional Ownership by Quarter for Kroger (NYSE:KR)

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