Hennessy Advisors Inc. Boosts Stake in The Kroger Co. (NYSE:KR)

Hennessy Advisors Inc. increased its position in The Kroger Co. (NYSE:KR - Free Report) by 72.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,800 shares of the company's stock after buying an additional 39,300 shares during the period. Hennessy Advisors Inc.'s holdings in Kroger were worth $6,349,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in KR. Millstone Evans Group LLC purchased a new stake in shares of Kroger in the fourth quarter worth about $25,000. Whipplewood Advisors LLC purchased a new stake in shares of Kroger in the fourth quarter worth about $26,000. TCTC Holdings LLC purchased a new stake in shares of Kroger in the fourth quarter worth about $27,000. Transce3nd LLC purchased a new stake in Kroger during the fourth quarter valued at approximately $28,000. Finally, Centricity Wealth Management LLC purchased a new stake in Kroger during the fourth quarter valued at approximately $32,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Kroger Stock Up 0.7%

Shares of NYSE:KR opened at $65.52 on Friday. The Kroger Co. has a 52-week low of $49.04 and a 52-week high of $73.63. The stock has a market cap of $43.30 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 2.85 and a beta of 0.58. The business's 50 day moving average is $68.87 and its 200 day moving average is $65.01. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 1.74.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Guggenheim upped their price objective on Kroger from $71.00 to $73.00 and gave the company a "buy" rating in a research report on Thursday, April 3rd. Evercore ISI upped their price objective on Kroger from $73.00 to $74.00 and gave the company an "outperform" rating in a research report on Tuesday, March 11th. Melius Research upgraded Kroger from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 20th. Melius upgraded 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. Finally, JPMorgan Chase & Co. upped their price objective on Kroger from $72.00 to $82.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Kroger presently has an average rating of "Moderate Buy" and an average target price of $68.06.

Insider Buying and Selling

In other Kroger news, SVP Yael Cosset sold 17,685 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $66.19, for a total transaction of $1,170,570.15. Following the sale, the senior vice president now owns 139,124 shares of the company's stock, valued at approximately $9,208,617.56. This trade represents a 11.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christine S. Wheatley sold 30,000 shares of the stock in a transaction on Friday, April 4th. The shares were sold at an average price of $69.44, for a total value of $2,083,200.00. Following the sale, the executive vice president now directly owns 127,737 shares in the company, valued at $8,870,057.28. This trade represents a 19.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 160,815 shares of company stock valued at $11,101,588 over the last quarter. 0.44% of the stock is 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.

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