Precedent Wealth Partners LLC Boosts Stock Holdings in The Kroger Co. (NYSE:KR)

Precedent Wealth Partners LLC lifted its holdings in shares of The Kroger Co. (NYSE:KR) by 13.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,382 shares of the company’s stock after buying an additional 2,283 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Kroger were worth $1,111,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Hengehold Capital Management LLC raised its stake in shares of Kroger by 1.4% during the first quarter. Hengehold Capital Management LLC now owns 13,626 shares of the company’s stock valued at $778,000 after acquiring an additional 185 shares during the last quarter. Jaffetilchin Investment Partners LLC raised its position in Kroger by 1.1% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 16,551 shares of the company’s stock valued at $826,000 after purchasing an additional 187 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in Kroger by 2.8% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 6,922 shares of the company’s stock worth $395,000 after buying an additional 190 shares during the period. Csenge Advisory Group grew its position in shares of Kroger by 4.3% in the 1st quarter. Csenge Advisory Group now owns 4,610 shares of the company’s stock worth $263,000 after buying an additional 191 shares during the last quarter. Finally, Global Financial Private Client LLC increased its stake in shares of Kroger by 1.2% during the first quarter. Global Financial Private Client LLC now owns 17,112 shares of the company’s stock valued at $975,000 after buying an additional 196 shares during the period. 80.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Argus lifted their price target on shares of Kroger from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Wolfe Research raised shares of Kroger to a “strong-buy” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. boosted their price target on shares of 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 restated an “outperform” rating and issued a $62.00 target price on shares of Kroger in a research note on Wednesday, October 9th. Finally, BNP Paribas began coverage on Kroger in a research note on Friday. They issued a “neutral” rating and a $56.00 price target on the stock. Four equities research 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.09.

Kroger Price Performance

KR opened at $56.53 on Friday. The firm has a market cap of $40.80 billion, a PE ratio of 19.29, a P/E/G ratio of 0.87 and a beta of 0.47. The stock has a 50-day moving average price of $54.44 and a 200-day moving average price of $53.90. The Kroger Co. has a 1 year low of $42.10 and a 1 year high of $58.34. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.87 and a quick ratio of 0.46.

Kroger (NYSE:KR) last issued its earnings results on Thursday, September 12th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.02. Kroger had a net margin of 1.86% and a return on equity of 28.54%. The business had revenue of $33.91 billion during the quarter, compared to analysts’ expectations of $34.09 billion. During the same period in the previous year, the company earned $0.96 earnings per share. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts predict that The Kroger Co. will post 4.46 earnings per share for the current fiscal year.

Kroger Announces Dividend

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 $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, November 15th. Kroger’s payout ratio is 43.69%.

Insider Transactions at Kroger

In related news, VP Brian W. Nichols sold 6,922 shares of Kroger stock in a transaction dated Monday, October 7th. The stock was 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 directly owns 14,063 shares in the company, valued at approximately $784,715.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Valerie L. Jabbar sold 3,000 shares of the stock in a transaction on 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 directly owns 74,084 shares of the company’s stock, valued at $4,142,036.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Brian W. Nichols sold 6,922 shares of Kroger stock in a transaction on Monday, October 7th. The stock was 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 directly owns 14,063 shares of the company’s stock, valued at $784,715.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,932 shares of company stock worth $721,243 over the last quarter. 1.40% of the stock is currently owned by insiders.

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.