Kroger (NYSE:KR) Shares Gap Down to $47.21

Posted by Defense World Staff on Jun 17th, 2023

The Kroger Co. (NYSE:KR – Get Rating)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $47.21, but opened at $44.40. Kroger shares last traded at $45.90, with a volume of 2,810,260 shares.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Evercore ISI dropped their target price on Kroger from $56.00 to $54.00 in a report on Friday. Deutsche Bank Aktiengesellschaft dropped their target price on Kroger from $54.00 to $50.00 in a report on Friday. Northcoast Research raised Kroger from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Monday, March 20th. StockNews.com cut Kroger from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, Bank of America dropped their target price on Kroger from $75.00 to $65.00 in a report on Friday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $52.76.

Kroger Stock Performance

The firm’s 50 day simple moving average is $47.82 and its 200-day simple moving average is $46.57. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.30 and a current ratio of 0.74. The company has a market capitalization of $33.13 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 1.74 and a beta of 0.47.

Kroger (NYSE:KR – Get Rating) last announced its earnings results on Thursday, June 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.05. Kroger had a net margin of 1.51% and a return on equity of 31.84%. The company had revenue of $45.17 billion for the quarter, compared to the consensus estimate of $45.26 billion. During the same period in the previous year, the business earned $1.45 EPS. The company’s revenue was up 1.3% on a year-over-year basis. Analysts expect that The Kroger Co. will post 4.52 EPS for the current year.

Insider Activity

In other news, SVP Timothy A. Massa sold 23,000 shares of the business’s stock in a transaction on Friday, April 21st. The shares were sold at an average price of $47.95, for a total transaction of $1,102,850.00. Following the transaction, the senior vice president now directly owns 194,956 shares in the company, valued at approximately $9,348,140.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Gary Millerchip sold 30,182 shares of the company’s stock in a transaction on Monday, March 27th. The shares were sold at an average price of $48.88, for a total value of $1,475,296.16. Following the completion of the sale, the chief financial officer now directly owns 185,423 shares in the company, valued at $9,063,476.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Timothy A. Massa sold 23,000 shares of the company’s stock in a transaction on Friday, April 21st. The stock was sold at an average price of $47.95, for a total transaction of $1,102,850.00. Following the completion of the sale, the senior vice president now owns 194,956 shares of the company’s stock, valued at $9,348,140.20. The disclosure for this sale can be found here. Insiders have sold a total of 132,206 shares of company stock worth $6,402,118 in the last ninety days. Corporate insiders own 1.38% of the company’s stock.

Institutional Investors Weigh In On Kroger

Large investors have recently bought and sold shares of the business. Accurate Wealth Management LLC bought a new stake in Kroger in the fourth quarter worth $27,000. KB Financial Partners LLC bought a new stake in Kroger in the first quarter worth $28,000. Farmers & Merchants Investments Inc. bought a new stake in Kroger during the fourth quarter valued at about $29,000. Retirement Financial Solutions LLC bought a new stake in Kroger during the fourth quarter valued at about $30,000. Finally, Carmel Capital Partners LLC bought a new stake in Kroger during the first quarter valued at about $30,000. 78.03% of the stock is currently owned by institutional investors.

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.