Precedent Wealth Partners LLC Boosts Stake in The Kroger Co. (NYSE:KR)

Precedent Wealth Partners LLC boosted its stake in The Kroger Co. (NYSE:KR) by 19.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,714 shares of the company’s stock after buying an additional 3,785 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Kroger were worth $1,605,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KR. Millstone Evans Group LLC purchased a new stake in Kroger in the 4th quarter valued at approximately $25,000. Whipplewood Advisors LLC purchased a new position in shares of Kroger during the 4th quarter worth $26,000. TCTC Holdings LLC purchased a new position in shares of Kroger during the 4th quarter worth $27,000. Transce3nd LLC purchased a new position in shares of Kroger during the 4th quarter worth $28,000. Finally, Centricity Wealth Management LLC purchased a new position in shares of Kroger during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

KR has been the topic of a number of recent analyst reports. Melius raised Kroger from a “sell” rating to a “hold” rating and set a $70.00 price target on the stock in a research note on Tuesday, May 20th. Roth Capital set a $58.00 price target on Kroger in a research note on Thursday, March 6th. Melius Research raised Kroger from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 20th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $73.00 target price on shares of Kroger in a research report on Friday. Finally, Evercore ISI increased their target price on Kroger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.06.

Kroger Stock Up 0.7%

Shares of Kroger stock opened at $65.52 on Monday. The business has a 50-day moving average of $68.87 and a 200-day moving average of $65.04. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.54 and a quick ratio of 1.07. The company has a market capitalization of $43.30 billion, a PE ratio of 17.33, a P/E/G ratio of 2.85 and a beta of 0.58. The Kroger Co. has a 1-year low of $49.04 and a 1-year high of $73.63.

Insider Buying and Selling

In other news, EVP Christine S. Wheatley sold 30,000 shares of Kroger stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $72.07, for a total transaction of $2,162,100.00. Following the sale, the executive vice president now owns 97,737 shares of the company’s stock, valued at approximately $7,043,905.59. The trade was a 23.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Brian W. Nichols sold 1,000 shares of Kroger stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $72.03, for a total value of $72,030.00. Following the sale, the vice president now directly owns 10,473 shares in the company, valued at approximately $754,370.19. This trade represents a 8.72% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 138,638 shares of company stock worth $9,632,165. Corporate insiders own 0.44% of the company’s stock.

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.