PNC Financial Services Group Inc. Reduces Position in The Kroger Co. (NYSE:KR)

PNC Financial Services Group Inc. cut its holdings in shares of The Kroger Co. (NYSE:KR) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 193,847 shares of the company’s stock after selling 1,680 shares during the period. PNC Financial Services Group Inc.’s holdings in Kroger were worth $8,861,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Belpointe Asset Management LLC boosted its position in shares of Kroger by 2.0% during the third quarter. Belpointe Asset Management LLC now owns 12,405 shares of the company’s stock valued at $555,000 after buying an additional 240 shares during the last quarter. Level Four Advisory Services LLC boosted its position in Kroger by 1.8% in the fourth quarter. Level Four Advisory Services LLC now owns 14,134 shares of the company’s stock worth $646,000 after purchasing an additional 247 shares during the last quarter. Mendel Capital Management LLC boosted its position in Kroger by 0.8% in the fourth quarter. Mendel Capital Management LLC now owns 33,132 shares of the company’s stock worth $1,514,000 after purchasing an additional 253 shares during the last quarter. Balentine LLC boosted its position in Kroger by 2.5% in the third quarter. Balentine LLC now owns 10,700 shares of the company’s stock worth $479,000 after purchasing an additional 257 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its position in Kroger by 1.6% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 17,507 shares of the company’s stock worth $800,000 after purchasing an additional 274 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on KR. Telsey Advisory Group reissued an “outperform” rating and issued a $62.00 target price on shares of Kroger in a research report on Monday. Evercore ISI decreased their price objective on Kroger from $63.00 to $62.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 16th. Wells Fargo & Company raised Kroger from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $58.00 to $65.00 in a research note on Tuesday, April 16th. StockNews.com downgraded Kroger from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 12th. Finally, BMO Capital Markets raised Kroger from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $58.00 to $60.00 in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.18.

Kroger Stock Up 1.8 %

Shares of KR opened at $51.98 on Wednesday. The business’s 50 day moving average is $53.96 and its 200 day moving average is $50.66. The company has a market capitalization of $37.51 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 1.93 and a beta of 0.43. The Kroger Co. has a 12-month low of $42.10 and a 12-month high of $58.34. The company has a current ratio of 0.81, a quick ratio of 0.36 and a debt-to-equity ratio of 1.04.

Insider Activity at Kroger

In related news, VP Carin L. Fike sold 3,929 shares of Kroger stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $57.03, for a total transaction of $224,070.87. Following the sale, the vice president now owns 3,768 shares of the company’s stock, valued at approximately $214,889.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Kroger news, SVP Valerie L. Jabbar sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $55.52, for a total transaction of $832,800.00. Following the completion of the transaction, the senior vice president now owns 77,696 shares in the company, valued at approximately $4,313,681.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Carin L. Fike sold 3,929 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $57.03, for a total value of $224,070.87. Following the transaction, the vice president now owns 3,768 shares of the company’s stock, valued at approximately $214,889.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,796 shares of company stock valued at $3,118,767. 1.40% of the stock is owned by company insiders.

About Kroger

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.