NorthCrest Asset Manangement LLC Lowers Stake in The Kroger Co. (NYSE:KR)

NorthCrest Asset Manangement LLC lessened its stake in shares of The Kroger Co. (NYSE:KR) by 13.6% during the first quarter, HoldingsChannel reports. The firm owned 19,451 shares of the company’s stock after selling 3,070 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Kroger were worth $1,317,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of KR. Millstone Evans Group LLC acquired a new position in shares of Kroger during the fourth quarter worth about $25,000. Whipplewood Advisors LLC acquired a new position in shares of Kroger in the fourth quarter worth about $26,000. TCTC Holdings LLC acquired a new position in shares of Kroger in the fourth quarter worth about $27,000. Transce3nd LLC acquired a new position in shares of Kroger in the fourth quarter worth about $28,000. Finally, Centricity Wealth Management LLC acquired a new position in shares of Kroger in the fourth quarter worth about $32,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on KR shares. Morgan Stanley boosted their price target on Kroger from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. JPMorgan Chase & Co. boosted their price target on Kroger from $72.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Guggenheim boosted their price target on Kroger from $71.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, April 3rd. Telsey Advisory Group restated an “outperform” rating and set a $73.00 price objective on shares of Kroger in a research note on Friday. Finally, Evercore ISI upped their price objective on Kroger from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday, March 11th. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $68.06.

Kroger Stock Up 0.7%

NYSE:KR opened at $65.52 on Friday. The Kroger Co. has a 52 week low of $49.04 and a 52 week high of $73.63. The firm has a market capitalization of $43.30 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 2.85 and a beta of 0.58. The stock has a 50 day moving average of $68.87 and a 200-day moving average of $65.01. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 1.74.

Insider Buying and Selling

In other Kroger news, EVP Gabriel Arreaga sold 13,867 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $71.82, for a total value of $995,927.94. Following the completion of the sale, the executive vice president now directly owns 75,218 shares in the company, valued at $5,402,156.76. This represents a 15.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Christine S. Wheatley sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $69.44, for a total value of $2,083,200.00. Following the completion of the sale, the executive vice president now owns 127,737 shares of the company’s stock, valued at $8,870,057.28. This trade represents a 19.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 160,815 shares of company stock valued at $11,101,588 in the last three months. 0.44% of the stock is currently owned by corporate insiders.

Kroger 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.