The Kroger Co. (NYSE:KR) Shares Bought by OLD National Bancorp IN

Posted by Defense World Staff on Jul 3rd, 2023

OLD National Bancorp IN boosted its position in shares of The Kroger Co. (NYSE:KR – Free Report) by 77.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,935 shares of the company’s stock after acquiring an additional 7,849 shares during the period. OLD National Bancorp IN’s holdings in Kroger were worth $885,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Accurate Wealth Management LLC purchased a new stake in shares of Kroger during the 4th quarter worth approximately $27,000. GPS Wealth Strategies Group LLC purchased a new stake in shares of Kroger during the 1st quarter worth approximately $31,000. Farmers & Merchants Investments Inc. purchased a new stake in Kroger in the 4th quarter valued at $29,000. Retirement Financial Solutions LLC purchased a new stake in Kroger in the 4th quarter valued at $30,000. Finally, RFP Financial Group LLC purchased a new stake in Kroger in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

Insider Activity at Kroger

In related news, SVP Timothy A. Massa sold 23,000 shares of the firm’s stock in a transaction that occurred on Friday, April 21st. The shares were sold at an average price of $47.95, for a total value of $1,102,850.00. Following the transaction, the senior vice president now owns 194,956 shares in the company, valued at $9,348,140.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Kroger news, SVP Timothy A. Massa sold 23,000 shares of the stock in a transaction that occurred on Friday, April 21st. The shares were sold at an average price of $47.95, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christine S. Wheatley sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $47.49, for a total transaction of $1,187,250.00. Following the sale, the vice president now directly owns 126,866 shares of the company’s stock, valued at approximately $6,024,866.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,024 shares of company stock worth $3,694,571. Company insiders own 1.38% of the company’s stock.

Kroger Price Performance

Shares of NYSE KR opened at $47.00 on Monday. The stock has a market cap of $33.73 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.81 and a beta of 0.48. The Kroger Co. has a 52 week low of $41.81 and a 52 week high of $52.00. The company’s 50-day moving average price is $47.56 and its 200 day moving average price is $46.52. The company has a current ratio of 0.77, a quick ratio of 0.36 and a debt-to-equity ratio of 1.11.

Kroger (NYSE:KR – Free Report) last released its earnings results on Thursday, June 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.05. The company had revenue of $45.17 billion for the quarter, compared to analyst estimates of $45.26 billion. Kroger had a net margin of 1.71% and a return on equity of 30.96%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.45 EPS. As a group, research analysts forecast that The Kroger Co. will post 4.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on KR shares. Stephens reduced their price target on shares of Kroger from $57.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, March 6th. UBS Group reduced their price target on shares of Kroger from $51.00 to $48.00 in a research report on Monday, June 19th. Bank of America cut their price objective on shares of Kroger from $75.00 to $65.00 in a research report on Friday, June 16th. 3M restated a “maintains” rating on shares of Kroger in a research report on Friday, June 16th. Finally, Northcoast Research upgraded shares of Kroger from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Monday, March 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Kroger presently has an average rating of “Hold” and an average price target of $52.41.

Kroger Company Profile

(Free Report)

The Kroger Co operates as a food and drug retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.