Stratos Wealth Partners LTD. Raises Position in The Kroger Co. (NYSE:KR)

Posted by Defense World Staff on Oct 1st, 2023

Stratos Wealth Partners LTD. boosted its holdings in The Kroger Co. (NYSE:KR – Free Report) by 4.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,832 shares of the company’s stock after purchasing an additional 1,191 shares during the period. Stratos Wealth Partners LTD.’s holdings in Kroger were worth $1,214,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. KB Financial Partners LLC purchased a new position in Kroger in the first quarter valued at about $28,000. Carmel Capital Partners LLC acquired a new stake in Kroger during the first quarter valued at approximately $30,000. GPS Wealth Strategies Group LLC acquired a new stake in Kroger during the first quarter valued at approximately $31,000. Compagnie Lombard Odier SCmA acquired a new stake in Kroger during the fourth quarter valued at approximately $35,000. Finally, Resurgent Financial Advisors LLC acquired a new stake in Kroger during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Telsey Advisory Group restated an “outperform” rating and set a $55.00 price objective on shares of Kroger in a research note on Wednesday, September 20th. Evercore ISI cut their price objective on Kroger from $56.00 to $54.00 in a research note on Friday, June 16th. Bank of America dropped their price target on Kroger from $75.00 to $65.00 in a research report on Friday, June 16th. UBS Group dropped their price target on Kroger from $51.00 to $48.00 in a research report on Monday, June 19th. Finally, 3M reiterated a “maintains” rating on shares of Kroger in a research report on Friday, June 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $52.31.

Read Our Latest Analysis on Kroger

Kroger Stock Down 0.8 %

KR opened at $44.75 on Friday. The Kroger Co. has a 12 month low of $41.81 and a 12 month high of $50.41. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.78 and a quick ratio of 0.36. The stock has a market cap of $32.19 billion, a P/E ratio of 19.98, a P/E/G ratio of 2.12 and a beta of 0.48. The stock’s 50 day moving average price is $47.01 and its 200 day moving average price is $47.45.

Kroger (NYSE:KR – Get Free Report) last issued its quarterly earnings results on Friday, September 8th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.05. The firm had revenue of $33.85 billion during the quarter, compared to analyst estimates of $34.12 billion. Kroger had a return on equity of 30.61% and a net margin of 1.10%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the company posted $0.90 EPS. As a group, research analysts predict that The Kroger Co. will post 4.51 earnings per share for the current year.

Kroger Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Tuesday, November 14th. Kroger’s payout ratio is currently 51.79%.

Insider Buying and Selling at Kroger

In other Kroger news, SVP Timothy A. Massa sold 23,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $45.46, for a total transaction of $1,045,580.00. Following the completion of the transaction, the senior vice president now directly owns 194,956 shares of the company’s stock, valued at approximately $8,862,699.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Timothy A. Massa sold 23,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $45.46, for a total transaction of $1,045,580.00. Following the completion of the sale, the senior vice president now directly owns 194,956 shares of the company’s stock, valued at approximately $8,862,699.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Carin L. Fike sold 4,798 shares of the firm’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $45.52, for a total value of $218,404.96. Following the sale, the vice president now directly owns 4,156 shares of the company’s stock, valued at $189,181.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,798 shares of company stock valued at $1,542,985. 1.38% of the stock is owned by corporate insiders.

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.