Joule Financial LLC Purchases 638 Shares of The Kroger Co. (NYSE:KR)

Joule Financial LLC boosted its holdings in shares of The Kroger Co. (NYSE:KR) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,698 shares of the company’s stock after acquiring an additional 638 shares during the quarter. Joule Financial LLC’s holdings in Kroger were worth $654,000 at the end of the most recent reporting period.

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

Kroger Stock Performance

NYSE KR opened at $58.34 on Friday. The Kroger Co. has a 1-year low of $44.48 and a 1-year high of $63.59. The company has a 50 day moving average of $60.22 and a 200-day moving average of $56.53. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 1.74. The firm has a market cap of $42.22 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 2.78 and a beta of 0.48.

Kroger (NYSE:KR) last issued its quarterly earnings results on Thursday, December 5th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.01. Kroger had a net margin of 1.85% and a return on equity of 27.73%. The business had revenue of $33.63 billion for the quarter, compared to the consensus estimate of $34.19 billion. During the same quarter in the prior year, the company earned $0.95 EPS. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. On average, equities analysts forecast that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Kroger announced that its board has initiated a share repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 16.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KR. Morgan Stanley raised their target price on Kroger from $58.00 to $62.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Guggenheim initiated coverage on shares of Kroger in a research report on Thursday, December 19th. They set a “buy” rating and a $68.00 target price on the stock. BMO Capital Markets lifted their target price on Kroger from $60.00 to $63.00 and gave the stock a “market perform” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. raised their price objective on Kroger from $69.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Melius Research initiated coverage on Kroger in a research report on Monday, September 23rd. They set a “hold” rating and a $55.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Kroger presently has an average rating of “Moderate Buy” and a consensus price target of $65.93.

Insiders Place Their Bets

In related news, SVP Timothy A. Massa sold 25,889 shares of Kroger stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $60.12, for a total transaction of $1,556,446.68. Following the transaction, the senior vice president now owns 115,861 shares of the company’s stock, valued at $6,965,563.32. This trade represents a 18.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Yael Cosset sold 20,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $58.39, for a total transaction of $1,167,800.00. Following the completion of the sale, the senior vice president now owns 144,620 shares in the company, valued at approximately $8,444,361.80. This trade represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 195,448 shares of company stock valued at $12,143,923. 1.40% of the stock is currently owned by corporate insiders.

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.