The Kroger Co. (NYSE:KR) Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management raised its stake in The Kroger Co. (NYSE:KR) by 9.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 53,801 shares of the company’s stock after purchasing an additional 4,864 shares during the period. Ritholtz Wealth Management’s holdings in Kroger were worth $3,290,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Mendel Capital Management LLC increased its holdings in Kroger by 0.6% in the third quarter. Mendel Capital Management LLC now owns 31,559 shares of the company’s stock valued at $1,808,000 after buying an additional 181 shares during the last quarter. Cooper Financial Group increased its holdings in shares of Kroger by 3.7% in the 4th quarter. Cooper Financial Group now owns 5,366 shares of the company’s stock valued at $328,000 after acquiring an additional 190 shares during the last quarter. City Center Advisors LLC raised its position in shares of Kroger by 3.5% during the 4th quarter. City Center Advisors LLC now owns 5,748 shares of the company’s stock valued at $351,000 after acquiring an additional 195 shares in the last quarter. SignalPoint Asset Management LLC boosted its holdings in Kroger by 3.2% in the third quarter. SignalPoint Asset Management LLC now owns 6,500 shares of the company’s stock worth $367,000 after purchasing an additional 200 shares during the period. Finally, Bleakley Financial Group LLC increased its stake in Kroger by 1.9% during the third quarter. Bleakley Financial Group LLC now owns 11,726 shares of the company’s stock valued at $672,000 after purchasing an additional 215 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Buying and Selling

In other news, SVP Stuart Aitken sold 132,627 shares of Kroger stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $63.18, for a total value of $8,379,373.86. Following the transaction, the senior vice president now directly owns 217,523 shares of the company’s stock, valued at $13,743,103.14. This trade represents a 37.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Todd A. Foley sold 16,932 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $61.44, for a total transaction of $1,040,302.08. Following the completion of the sale, the chief financial officer now owns 53,782 shares of the company’s stock, valued at approximately $3,304,366.08. This trade represents a 23.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 195,448 shares of company stock worth $12,143,923 in the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

Kroger Stock Performance

KR opened at $58.34 on Friday. The business has a 50 day moving average price of $60.25 and a two-hundred day moving average price of $56.48. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.54 and a quick ratio of 1.07. The company has a market capitalization of $42.22 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. The Kroger Co. has a 1-year low of $44.48 and a 1-year high of $63.59.

Kroger (NYSE:KR) last announced its earnings results on Thursday, December 5th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.01. Kroger had a return on equity of 27.73% and a net margin of 1.85%. The business had revenue of $33.63 billion during the quarter, compared to analysts’ expectations of $34.19 billion. During the same quarter last year, the business posted $0.95 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. Research analysts predict that The Kroger Co. will post 4.44 EPS for the current fiscal year.

Kroger announced that its board has initiated a share buyback plan on Wednesday, December 11th that allows the company to repurchase $7.50 billion in shares. This repurchase authorization allows the company to buy up to 16.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

KR has been the subject of several research reports. Bank of America lifted their price target on shares of Kroger from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, December 20th. JPMorgan Chase & Co. upped their target price on Kroger from $69.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, January 6th. BNP Paribas started coverage on Kroger in a report on Friday, October 18th. They issued a “neutral” rating and a $56.00 price target on the stock. Guggenheim initiated coverage on Kroger in a research note on Thursday, December 19th. They set a “buy” rating and a $68.00 price objective for the company. Finally, Jefferies Financial Group raised shares of Kroger from a “hold” rating to a “buy” rating and boosted their price target for the company from $54.00 to $73.00 in a report on Tuesday, December 3rd. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Kroger has a consensus rating of “Moderate Buy” and a consensus price target of $65.93.

Kroger Company Profile

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.