Precedent Wealth Partners LLC Boosts Position in The Kroger Co. $KR

Precedent Wealth Partners LLC boosted its holdings in The Kroger Co. (NYSE:KR) by 14.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 27,134 shares of the company’s stock after purchasing an additional 3,420 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Kroger were worth $1,946,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Accent Capital Management LLC purchased a new position in Kroger in the first quarter valued at approximately $25,000. SOA Wealth Advisors LLC. raised its holdings in Kroger by 6,840.0% in the second quarter. SOA Wealth Advisors LLC. now owns 347 shares of the company’s stock valued at $25,000 after buying an additional 342 shares during the period. Garde Capital Inc. purchased a new position in Kroger in the first quarter valued at approximately $31,000. Capital Analysts LLC purchased a new position in Kroger in the first quarter valued at approximately $36,000. Finally, Sound Income Strategies LLC raised its holdings in Kroger by 46.7% in the first quarter. Sound Income Strategies LLC now owns 550 shares of the company’s stock valued at $37,000 after buying an additional 175 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

KR has been the topic of several research reports. Argus set a $85.00 price target on shares of Kroger in a report on Thursday, September 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $75.00 price objective (down previously from $82.00) on shares of Kroger in a research report on Wednesday, August 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Kroger in a research report on Saturday, September 27th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Kroger from $57.00 to $67.00 and gave the company a “hold” rating in a research report on Monday, June 23rd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $82.00 price objective on shares of Kroger in a research report on Thursday, September 11th. Ten research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Kroger currently has a consensus rating of “Moderate Buy” and an average price target of $73.63.

Kroger Stock Down 0.1%

KR stock opened at $66.30 on Friday. The Kroger Co. has a twelve month low of $54.88 and a twelve month high of $74.90. The company has a current ratio of 0.95, a quick ratio of 0.54 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $43.93 billion, a P/E ratio of 16.83, a PEG ratio of 1.93 and a beta of 0.57. The firm has a 50 day simple moving average of $68.75 and a 200-day simple moving average of $68.98.

Kroger (NYSE:KR) last released its quarterly earnings results on Thursday, September 11th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. Kroger had a net margin of 1.86% and a return on equity of 32.62%. The business had revenue of $33.94 billion during the quarter, compared to the consensus estimate of $34.08 billion. During the same quarter last year, the company earned $0.93 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year. Kroger has set its FY 2025 guidance at 4.700-4.800 EPS. On average, equities research analysts predict that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Kroger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.1%. Kroger’s dividend payout ratio (DPR) is presently 35.53%.

Insider Buying and Selling at Kroger

In other news, Director Clyde R. Moore sold 3,810 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $71.61, for a total transaction of $272,834.10. Following the completion of the sale, the director owned 85,850 shares of the company’s stock, valued at approximately $6,147,718.50. This trade represents a 4.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.44% of the company’s stock.

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.