Benedict Financial Advisors Inc. Has $2.38 Million Stake in The Kroger Co. (NYSE:KR)

by · The Cerbat Gem

Benedict Financial Advisors Inc. raised its position in The Kroger Co. (NYSE:KR – Free Report) by 8.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,596 shares of the company’s stock after acquiring an additional 3,069 shares during the quarter. Benedict Financial Advisors Inc.’s holdings in Kroger were worth $2,383,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Valued Wealth Advisors LLC increased its position in Kroger by 255.6% during the first quarter. Valued Wealth Advisors LLC now owns 448 shares of the company’s stock worth $26,000 after buying an additional 322 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of Kroger by 101.6% during the 1st quarter. Hexagon Capital Partners LLC now owns 496 shares of the company’s stock worth $28,000 after acquiring an additional 250 shares during the period. Altshuler Shaham Ltd acquired a new position in shares of Kroger during the 2nd quarter worth approximately $28,000. Palisade Asset Management LLC bought a new stake in Kroger in the 1st quarter valued at $29,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Kroger during the 1st quarter valued at $34,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on KR. Argus raised their target price on shares of Kroger from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. upped their target price on Kroger from $58.00 to $59.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Telsey Advisory Group reissued an “outperform” rating and set a $62.00 price target on shares of Kroger in a report on Wednesday, October 9th. BNP Paribas began coverage on shares of Kroger in a report on Friday, October 18th. They issued a “neutral” rating and a $56.00 price objective for the company. Finally, Melius Research assumed coverage on Kroger in a research report on Monday, September 23rd. They set a “hold” rating and a $55.00 target price for the company. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.09.

Read Our Latest Stock Analysis on Kroger

Kroger Price Performance

Shares of NYSE KR traded up $0.68 during midday trading on Friday, reaching $57.37. 4,249,881 shares of the company were exchanged, compared to its average volume of 4,785,738. The stock’s 50-day moving average price is $54.84 and its 200-day moving average price is $53.89. The stock has a market cap of $41.41 billion, a P/E ratio of 19.58, a PEG ratio of 0.87 and a beta of 0.47. The company has a quick ratio of 0.46, a current ratio of 0.87 and a debt-to-equity ratio of 0.96. The Kroger Co. has a one year low of $42.10 and a one year high of $58.34.

Kroger (NYSE:KR – Get Free Report) last issued its quarterly earnings data on Thursday, September 12th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The business had revenue of $33.91 billion for the quarter, compared to analyst estimates of $34.09 billion. Kroger had a return on equity of 28.54% and a net margin of 1.86%. Kroger’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS. On average, sell-side analysts anticipate that The Kroger Co. will post 4.46 earnings per share for the current fiscal year.

Kroger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Friday, November 15th. Kroger’s payout ratio is 43.69%.

Insider Buying and Selling at Kroger

In related news, VP Carin L. Fike sold 3,010 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $55.57, for a total value of $167,265.70. Following the sale, the vice president now owns 47,593 shares of the company’s stock, valued at $2,644,743.01. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Valerie L. Jabbar sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $55.91, for a total value of $167,730.00. Following the transaction, the senior vice president now owns 74,084 shares in the company, valued at approximately $4,142,036.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Carin L. Fike sold 3,010 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $55.57, for a total transaction of $167,265.70. Following the completion of the transaction, the vice president now owns 47,593 shares in the company, valued at approximately $2,644,743.01. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,932 shares of company stock worth $721,243. 1.40% of the stock is currently owned by company 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.

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