Cornerstone Wealth Management LLC Sells 200 Shares of The Kroger Co. (NYSE:KR)

Cornerstone Wealth Management LLC decreased its stake in shares of The Kroger Co. (NYSE:KR) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,496 shares of the company’s stock after selling 200 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Kroger were worth $258,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Valued Wealth Advisors LLC grew its position in shares of Kroger by 255.6% during the first quarter. Valued Wealth Advisors LLC now owns 448 shares of the company’s stock valued at $26,000 after purchasing an additional 322 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in Kroger by 101.6% during the first quarter. Hexagon Capital Partners LLC now owns 496 shares of the company’s stock valued at $28,000 after buying an additional 250 shares during the last quarter. Palisade Asset Management LLC purchased a new position in Kroger during the 1st quarter valued at approximately $29,000. Altshuler Shaham Ltd bought a new stake in Kroger in the 2nd quarter worth approximately $28,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Kroger during the 1st quarter worth approximately $34,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Kroger news, SVP Valerie L. Jabbar sold 3,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $55.91, for a total value of $167,730.00. Following the completion of the sale, the senior vice president now directly owns 74,084 shares in the company, valued at approximately $4,142,036.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Valerie L. Jabbar sold 3,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $55.91, for a total value of $167,730.00. Following the completion of the sale, the senior vice president now owns 74,084 shares in the company, valued at approximately $4,142,036.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Carin L. Fike sold 3,010 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $55.57, for a total transaction of $167,265.70. Following the transaction, the vice president now owns 47,593 shares in the company, valued at approximately $2,644,743.01. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,932 shares of company stock valued at $721,243 over the last quarter. 1.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on KR shares. StockNews.com lowered shares of Kroger from a “strong-buy” rating to a “buy” rating in a report on Monday, September 16th. JPMorgan Chase & Co. lifted their price objective on shares of Kroger from $58.00 to $59.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Morgan Stanley upped their target price on shares of Kroger from $57.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. Melius Research initiated coverage on Kroger in a research report on Monday, September 23rd. They issued a “hold” rating and a $55.00 price target for the company. Finally, Telsey Advisory Group restated an “outperform” rating and set a $62.00 price objective on shares of Kroger in a research report on Wednesday, October 9th. Four 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’s stock. Based on data from MarketBeat.com, Kroger has a consensus rating of “Moderate Buy” and an average price target of $60.09.

Kroger Stock Performance

Shares of Kroger stock opened at $56.53 on Friday. The Kroger Co. has a 52 week low of $42.10 and a 52 week high of $58.34. The company has a market capitalization of $40.80 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 0.87 and a beta of 0.47. The stock’s fifty day moving average is $54.44 and its two-hundred day moving average is $53.87. The company has a quick ratio of 0.46, a current ratio of 0.87 and a debt-to-equity ratio of 0.96.

Kroger (NYSE:KR) last posted 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 net margin of 1.86% and a return on equity of 28.54%. The firm had revenue of $33.91 billion for the quarter, compared to analysts’ expectations of $34.09 billion. During the same period in the prior year, the business posted $0.96 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts expect that The Kroger Co. will post 4.46 earnings per share for the current year.

Kroger Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.26%. Kroger’s payout ratio is 43.69%.

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.