Reston Wealth Management LLC Takes $44,000 Position in The Kroger Co. (NYSE:KR)

Reston Wealth Management LLC purchased a new position in shares of The Kroger Co. (NYSE:KR) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 763 shares of the company’s stock, valued at approximately $44,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Palisade Asset Management LLC bought a new position in shares of Kroger during the 1st quarter worth approximately $29,000. Altshuler Shaham Ltd bought a new stake in Kroger during the second quarter worth $28,000. Northwest Investment Counselors LLC purchased a new position in Kroger in the third quarter worth $34,000. Newbridge Financial Services Group Inc. grew its stake in Kroger by 218.8% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 714 shares of the company’s stock valued at $36,000 after purchasing an additional 490 shares during the period. Finally, ORG Partners LLC bought a new stake in shares of Kroger during the 2nd quarter worth $42,000. Institutional investors own 80.93% of the company’s stock.

Insider Activity at Kroger

In other news, VP Carin L. Fike sold 3,010 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $55.57, for a total value of $167,265.70. Following the completion of the transaction, the vice president now owns 47,593 shares of the company’s stock, valued at approximately $2,644,743.01. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Carin L. Fike sold 3,010 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $55.57, for a total value of $167,265.70. Following the completion of the transaction, the vice president now directly owns 47,593 shares in the company, valued at $2,644,743.01. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian W. Nichols sold 6,922 shares of the stock in a transaction 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 sale, the vice president now owns 14,063 shares in the company, valued at approximately $784,715.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,932 shares of company stock worth $721,243 over the last 90 days. 1.40% of the stock is owned by company insiders.

Kroger Stock Performance

NYSE KR opened at $55.77 on Friday. The firm has a market cap of $40.35 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 0.86 and a beta of 0.47. The company has a 50-day simple moving average of $55.13 and a two-hundred day simple moving average of $53.90. The company has a quick ratio of 0.46, a current ratio of 0.87 and a debt-to-equity ratio of 0.96. The Kroger Co. has a 12-month low of $42.10 and a 12-month high of $58.34.

Kroger (NYSE:KR) last announced its quarterly earnings results on Thursday, September 12th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. Kroger had a return on equity of 28.54% and a net margin of 1.86%. The business had revenue of $33.91 billion for the quarter, compared to analysts’ expectations of $34.09 billion. During the same period in the previous year, the firm earned $0.96 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. On average, equities analysts forecast that The Kroger Co. will post 4.46 EPS for the current year.

Kroger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.28 annualized dividend and a dividend yield of 2.30%. Kroger’s dividend payout ratio is 33.51%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KR. StockNews.com cut shares of Kroger from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 16th. Morgan Stanley raised their price target on Kroger from $57.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. Telsey Advisory Group reissued an “outperform” rating and set a $62.00 price objective 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 for the company. Finally, Argus increased their price target on shares of Kroger from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Kroger has a consensus rating of “Moderate Buy” and a consensus target price of $60.09.

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.