AdvisorNet Financial Inc Cuts Stock Position in The Kroger Co. (NYSE:KR)

AdvisorNet Financial Inc trimmed its holdings in shares of The Kroger Co. (NYSE:KR) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,583 shares of the company’s stock after selling 352 shares during the period. AdvisorNet Financial Inc’s holdings in Kroger were worth $464,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in KR. Altshuler Shaham Ltd purchased a new stake in shares of Kroger in the second quarter worth about $28,000. Northwest Investment Counselors LLC purchased a new position in Kroger in the 3rd quarter worth approximately $34,000. Newbridge Financial Services Group Inc. grew its position in Kroger by 218.8% in the second quarter. Newbridge Financial Services Group Inc. now owns 714 shares of the company’s stock valued at $36,000 after acquiring an additional 490 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Kroger during the third quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Kroger during the third quarter worth $43,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Kroger

In related news, SVP Stuart Aitken sold 132,627 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $63.18, for a total value of $8,379,373.86. Following the completion of the sale, the senior vice president now owns 217,523 shares of the company’s stock, valued at $13,743,103.14. This represents a 37.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Todd A. Foley sold 16,932 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $61.44, for a total transaction of $1,040,302.08. Following the completion of the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 195,448 shares of company stock worth $12,143,923. 1.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Kroger from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. BNP Paribas began coverage on Kroger in a report on Friday, October 18th. They issued a “neutral” rating and a $56.00 price target for the company. Bank of America lifted their price objective on Kroger from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Guggenheim started coverage on Kroger in a research note on Thursday, December 19th. They set a “buy” rating and a $68.00 target price for the company. Finally, Morgan Stanley lifted their price target on shares of Kroger from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Six 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. Based on data from MarketBeat, Kroger currently has an average rating of “Moderate Buy” and an average target price of $65.93.

Kroger Price Performance

Shares of NYSE:KR opened at $58.74 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 1.74. The firm has a 50-day simple moving average of $60.28 and a 200 day simple moving average of $56.44. The Kroger Co. has a fifty-two week low of $44.48 and a fifty-two week high of $63.59. The company has a market cap of $42.50 billion, a PE ratio of 15.54, a P/E/G ratio of 0.97 and a beta of 0.48.

Kroger (NYSE:KR) last announced its quarterly earnings results on Thursday, December 5th. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. Kroger had a return on equity of 27.73% and a net margin of 1.85%. The business had revenue of $33.63 billion for the quarter, compared to analysts’ expectations of $34.19 billion. During the same period in the prior year, the firm earned $0.95 EPS. The business’s quarterly revenue was down 1.0% on a year-over-year basis. On average, sell-side analysts anticipate that The Kroger Co. will post 4.43 EPS for the current year.

Kroger announced that its board has approved a share buyback program on Wednesday, December 11th that permits the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 16.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

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.