Cedar Wealth Management LLC lessened its position in Kroger Co (NYSE:KR) by 8.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,115 shares of the company’s stock after selling 2,120 shares during the quarter. Kroger accounts for approximately 0.4% of Cedar Wealth Management LLC’s portfolio, making the stock its 20th largest holding. Cedar Wealth Management LLC’s holdings in Kroger were worth $593,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KR. Lavaca Capital LLC bought a new position in shares of Kroger during the first quarter valued at about $25,000. Doyle Wealth Management bought a new stake in shares of Kroger in the fourth quarter worth about $26,000. Riverview Trust Co bought a new stake in shares of Kroger in the fourth quarter worth about $26,000. Lindbrook Capital LLC bought a new stake in shares of Kroger in the fourth quarter worth about $32,000. Finally, Financial Gravity Companies Inc. bought a new stake in shares of Kroger in the fourth quarter worth about $33,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Christine S. Wheatley sold 1,500 shares of Kroger stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $25.21, for a total transaction of $37,815.00. Following the completion of the transaction, the insider now directly owns 126,054 shares in the company, valued at $3,177,821.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher T. Hjelm sold 16,000 shares of Kroger stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $25.80, for a total transaction of $412,800.00. Following the transaction, the executive vice president now owns 282,429 shares of the company’s stock, valued at $7,286,668.20. The disclosure for this sale can be found here. Insiders have sold 97,500 shares of company stock valued at $2,412,215 over the last quarter. Company insiders own 1.07% of the company’s stock.
KR has been the topic of several recent analyst reports. Buckingham Research cut their target price on Kroger from $24.00 to $22.00 and set an “underperform” rating on the stock in a research note on Friday, March 8th. Zacks Investment Research cut Kroger from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Evercore ISI assumed coverage on Kroger in a research note on Wednesday, March 20th. They issued an “in-line” rating and a $27.00 target price on the stock. Morgan Stanley lowered their price objective on shares of Kroger from $27.00 to $26.00 and set an “equal weight” rating for the company in a report on Friday, March 8th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $29.00 price objective (down from $31.00) on shares of Kroger in a report on Friday, March 8th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $30.33.
KR stock opened at $25.00 on Monday. Kroger Co has a 52-week low of $23.52 and a 52-week high of $32.74. The company has a market cap of $19.96 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 1.50 and a beta of 0.63. The company has a quick ratio of 0.28, a current ratio of 0.76 and a debt-to-equity ratio of 1.54.
Kroger (NYSE:KR) last released its earnings results on Thursday, March 7th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.03). Kroger had a net margin of 2.57% and a return on equity of 23.50%. The business had revenue of $28.09 billion for the quarter, compared to analysts’ expectations of $28.38 billion. During the same quarter in the previous year, the business posted $0.63 earnings per share. Kroger’s revenue for the quarter was down 9.5% on a year-over-year basis. Sell-side analysts predict that Kroger Co will post 2.22 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.56 annualized dividend and a dividend yield of 2.24%. Kroger’s payout ratio is 26.54%.
ILLEGAL ACTIVITY NOTICE: “Kroger Co (KR) Shares Sold by Cedar Wealth Management LLC” was originally reported by Transcript Daily and is the property of of Transcript Daily. If you are viewing this article on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright laws. The legal version of this article can be accessed at https://transcriptdaily.com/2019/04/29/kroger-co-kr-shares-sold-by-cedar-wealth-management-llc.html.
The Kroger Co operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. 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.
Further Reading: Calculating net profit and net profit margin ratio
Want to see what other hedge funds are holding KR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kroger Co (NYSE:KR).
Receive News & Ratings for Kroger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kroger and related companies with MarketBeat.com's FREE daily email newsletter.