The Kroger Co. (NYSE:KR) Position Cut by Nicholas Hoffman & Company LLC.

31 Oct 2024, 06:10 by Scott Moore · The Cerbat Gem

Nicholas Hoffman & Company LLC. trimmed its holdings in The Kroger Co. (NYSE:KR – Free Report) by 11.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,887 shares of the company’s stock after selling 656 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Kroger were worth $280,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC lifted its position in Kroger by 101.6% in the first quarter. Hexagon Capital Partners LLC now owns 496 shares of the company’s stock worth $28,000 after purchasing an additional 250 shares during the period. Palisade Asset Management LLC acquired a new stake in Kroger in the first quarter worth approximately $29,000. Altshuler Shaham Ltd acquired a new stake in Kroger in the second quarter worth approximately $28,000. Northwest Investment Counselors LLC acquired a new stake in Kroger in the third quarter worth approximately $34,000. Finally, Newbridge Financial Services Group Inc. lifted its position in Kroger by 218.8% in the second quarter. Newbridge Financial Services Group Inc. now owns 714 shares of the company’s stock worth $36,000 after purchasing an additional 490 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on KR shares. Evercore ISI increased their price objective on Kroger from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. Telsey Advisory Group reiterated an “outperform” rating and set a $62.00 price objective on shares of Kroger in a research report on Wednesday, October 9th. Melius Research began coverage on Kroger in a report on Monday, September 23rd. They issued a “hold” rating and a $55.00 target price for the company. Morgan Stanley increased their target price on Kroger from $57.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Finally, StockNews.com lowered Kroger from a “strong-buy” rating to a “buy” rating in a report on Monday, September 16th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.09.

View Our Latest Research Report on KR

Kroger Trading Down 0.4 %

Shares of NYSE:KR opened at $55.74 on Thursday. The company has a market cap of $40.33 billion, a P/E ratio of 14.59, a P/E/G ratio of 0.87 and a beta of 0.47. The stock’s 50-day moving average is $55.06 and its 200-day moving average is $53.89. The Kroger Co. has a 52-week low of $42.10 and a 52-week high of $58.34. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.46 and a current ratio of 0.87.

Kroger (NYSE:KR – Get Free Report) last issued its quarterly earnings results on Thursday, September 12th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. The company had revenue of $33.91 billion for the quarter, compared to the consensus estimate of $34.09 billion. Kroger had a return on equity of 28.54% and a net margin of 1.86%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period last year, the business posted $0.96 earnings per share. Equities research analysts predict that The Kroger Co. will post 4.46 earnings per share for the current year.

Kroger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, November 15th. Kroger’s payout ratio is presently 33.51%.

Insider Activity at Kroger

In related news, VP Brian W. Nichols sold 6,922 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $55.80, for a total value of $386,247.60. Following the completion of the sale, the vice president now owns 14,063 shares in the company, valued at approximately $784,715.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Kroger news, VP Brian W. Nichols sold 6,922 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $55.80, for a total transaction of $386,247.60. Following the completion of the transaction, the vice president now owns 14,063 shares in the company, valued at $784,715.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Valerie L. Jabbar sold 3,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $55.91, for a total transaction of $167,730.00. Following the transaction, the senior vice president now owns 74,084 shares of the company’s stock, valued at approximately $4,142,036.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,932 shares of company stock worth $721,243. Company insiders own 1.40% of the company’s stock.

Kroger Profile

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