Meridian Wealth Management LLC bought a new stake in shares of The Kroger Co. (NYSE:KR – Free Report) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 21,996 shares of the company’s stock, valued at approximately $1,260,000.
Other large investors also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new stake in shares of Kroger during the second quarter valued at approximately $28,000. Northwest Investment Counselors LLC purchased a new stake in Kroger during the 3rd quarter valued at $34,000. Newbridge Financial Services Group Inc. grew its holdings in Kroger by 218.8% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 714 shares of the company’s stock worth $36,000 after acquiring an additional 490 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Kroger in the third quarter valued at about $40,000. Finally, ORG Partners LLC purchased a new stake in shares of Kroger during the second quarter worth about $42,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.
Kroger Stock Up 1.1 %
Shares of Kroger stock opened at $59.22 on Friday. The company has a 50-day simple moving average of $56.89 and a two-hundred day simple moving average of $54.23. The stock has a market capitalization of $42.84 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 0.91 and a beta of 0.48. The Kroger Co. has a 52-week low of $42.97 and a 52-week high of $60.35. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.46 and a current ratio of 0.87.
Kroger Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.28 annualized dividend and a yield of 2.16%. Kroger’s payout ratio is 33.51%.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the company. Telsey Advisory Group restated an “outperform” rating and set a $62.00 price target on shares of Kroger in a report on Wednesday, October 9th. BNP Paribas initiated coverage on Kroger in a report on Friday, October 18th. They set a “neutral” rating and a $56.00 target price on the stock. StockNews.com cut Kroger from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 16th. Evercore ISI increased their price objective on Kroger from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. Finally, Morgan Stanley boosted their target price on shares of Kroger from $57.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $60.09.
Read Our Latest Report on Kroger
Insiders Place Their Bets
In other news, VP Carin L. Fike sold 3,010 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $55.57, for a total transaction of $167,265.70. Following the transaction, the vice president now directly owns 47,593 shares of the company’s stock, valued at $2,644,743.01. This represents a 5.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Brian W. Nichols sold 6,922 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was 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 owns 14,063 shares in the company, valued at approximately $784,715.40. This trade represents a 32.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,932 shares of company stock valued at $721,243. 1.40% of the stock is owned by 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.
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