JPMorgan Chase & Co. Boosts Stock Position in The Kroger Co. (NYSE:KR)

JPMorgan Chase & Co. raised its stake in The Kroger Co. (NYSE:KR) by 0.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 6,164,855 shares of the company’s stock after acquiring an additional 37,222 shares during the period. JPMorgan Chase & Co.’s holdings in Kroger were worth $353,246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Principal Financial Group Inc. raised its position in Kroger by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 884,609 shares of the company’s stock worth $50,688,000 after buying an additional 40,914 shares during the last quarter. DGS Capital Management LLC boosted its holdings in Kroger by 3.6% in the 3rd quarter. DGS Capital Management LLC now owns 13,057 shares of the company’s stock valued at $748,000 after purchasing an additional 449 shares in the last quarter. Franklin Resources Inc. increased its position in Kroger by 14.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,269,478 shares of the company’s stock worth $125,426,000 after purchasing an additional 281,878 shares during the period. Tri Ri Asset Management Corp acquired a new stake in shares of Kroger in the 3rd quarter valued at approximately $4,037,000. Finally, Synovus Financial Corp grew its holdings in Kroger by 3.7% during the third quarter. Synovus Financial Corp now owns 10,797 shares of the company’s stock worth $619,000 after acquiring an additional 390 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Buying and Selling

In related news, CFO Todd A. Foley sold 16,932 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $61.44, for a total value of $1,040,302.08. Following the completion of the transaction, the chief financial officer now owns 53,782 shares of the company’s stock, valued at approximately $3,304,366.08. This represents a 23.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Brian W. Nichols sold 6,922 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $55.80, for a total value of $386,247.60. Following the completion of the transaction, the vice president now directly owns 14,063 shares in the company, valued at approximately $784,715.40. The trade was a 32.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 202,370 shares of company stock valued at $12,530,170. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. BNP Paribas assumed coverage on shares of Kroger in a report on Friday, October 18th. They issued a “neutral” rating and a $56.00 price target for the company. StockNews.com downgraded shares of Kroger from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 16th. Roth Mkm upped their price target on Kroger from $52.00 to $56.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Jefferies Financial Group upgraded Kroger from a “hold” rating to a “buy” rating and boosted their target price for the stock from $54.00 to $73.00 in a research report on Tuesday, December 3rd. Finally, Morgan Stanley lifted their price target on Kroger from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Kroger has an average rating of “Moderate Buy” and a consensus target price of $65.79.

Kroger Stock Performance

NYSE KR opened at $62.34 on Monday. The business’s 50-day simple moving average is $59.41 and its 200-day simple moving average is $55.61. The firm has a market capitalization of $45.11 billion, a P/E ratio of 16.49, a P/E/G ratio of 0.97 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. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.54 and a quick ratio of 1.07.

Kroger (NYSE:KR) last posted 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. The business had revenue of $33.63 billion for the quarter, compared to analyst estimates of $34.19 billion. Kroger had a net margin of 1.85% and a return on equity of 27.73%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.95 EPS. Equities analysts predict that The Kroger Co. will post 4.43 EPS for the current year.

Kroger announced that its Board of Directors has authorized a share buyback plan on Wednesday, December 11th that permits the company to repurchase $7.50 billion in shares. This repurchase authorization permits the company to purchase up to 16.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

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.