Financial Enhancement Group LLC Takes Position in The Kroger Co. (NYSE:KR)

Financial Enhancement Group LLC purchased a new stake in The Kroger Co. (NYSE:KR - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 82,353 shares of the company's stock, valued at approximately $6,010,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in Kroger during the 4th quarter worth approximately $598,390,000. Steadfast Capital Management LP purchased a new stake in Kroger during the 4th quarter worth approximately $277,989,000. Junto Capital Management LP purchased a new stake in Kroger during the 4th quarter worth approximately $264,207,000. Alyeska Investment Group L.P. purchased a new stake in Kroger during the 4th quarter worth approximately $123,829,000. Finally, FMR LLC increased its position in shares of Kroger by 39.1% in the 4th quarter. FMR LLC now owns 7,054,824 shares of the company's stock valued at $431,402,000 after purchasing an additional 1,981,259 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Kroger Stock Performance

Shares of KR opened at $73.29 on Wednesday. The company has a 50-day simple moving average of $69.09 and a 200-day simple moving average of $65.43. The company has a quick ratio of 0.53, a current ratio of 0.95 and a debt-to-equity ratio of 1.92. The company has a market capitalization of $48.44 billion, a PE ratio of 19.97, a P/E/G ratio of 2.21 and a beta of 0.58. The Kroger Co. has a 52-week low of $49.04 and a 52-week high of $74.11.

Kroger (NYSE:KR - Get Free Report) last announced its quarterly earnings results on Friday, June 20th. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.04. Kroger had a net margin of 1.76% and a return on equity of 30.01%. The business had revenue of $45.12 billion during the quarter, compared to the consensus estimate of $45.35 billion. During the same quarter last year, the firm posted $1.43 EPS. The business's revenue was down .3% compared to the same quarter last year. Equities research analysts predict that The Kroger Co. will post 4.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Kroger news, EVP Yael Cosset sold 71,224 shares of the firm's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $73.49, for a total transaction of $5,234,251.76. Following the sale, the executive vice president now directly owns 139,124 shares of the company's stock, valued at $10,224,222.76. This trade represents a 33.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brian W. Nichols sold 1,000 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $72.03, for a total transaction of $72,030.00. Following the sale, the vice president now directly owns 10,473 shares in the company, valued at $754,370.19. This represents a 8.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 207,793 shares of company stock valued at $14,938,358 in the last ninety days. Insiders own 0.44% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on KR. Morgan Stanley increased their price objective on shares of Kroger from $71.00 to $76.00 and gave the company an "equal weight" rating in a research report on Monday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Kroger from $57.00 to $67.00 and gave the company a "hold" rating in a research report on Monday. Melius raised shares of Kroger from a "sell" rating to a "hold" rating and set a $70.00 price objective on the stock in a research report on Tuesday, May 20th. Telsey Advisory Group restated an "outperform" rating and issued a $82.00 target price (up previously from $73.00) on shares of Kroger in a report on Friday, June 20th. Finally, JPMorgan Chase & Co. upped their target price on shares of Kroger from $72.00 to $82.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $69.47.

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.

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