Smithbridge Asset Management Inc. DE Acquires Shares of 10,735 The Kroger Co. (NYSE:KR)

Smithbridge Asset Management Inc. DE purchased a new position in shares of The Kroger Co. (NYSE:KR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,735 shares of the company's stock, valued at approximately $727,000.

Several other institutional investors and hedge funds have also made changes to their positions in KR. Norges Bank purchased a new stake in shares of Kroger in the 4th quarter worth about $598,390,000. Steadfast Capital Management LP purchased a new position in Kroger in the 4th quarter valued at about $277,989,000. Junto Capital Management LP purchased a new position in Kroger in the 4th quarter valued at about $264,207,000. Alyeska Investment Group L.P. purchased a new position in Kroger in the 4th quarter valued at about $123,829,000. Finally, FMR LLC lifted its holdings in 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 in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kroger

In other Kroger news, SVP Yael Cosset sold 17,685 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $66.19, for a total value of $1,170,570.15. Following the completion of the sale, the senior vice president now owns 139,124 shares of the company's stock, valued at $9,208,617.56. This trade represents a 11.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian W. Nichols sold 1,000 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at $754,370.19. The trade was a 8.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 160,815 shares of company stock valued at $11,101,588 over the last 90 days. 0.44% of the stock is owned by corporate insiders.

Kroger Stock Up 0.7%

NYSE:KR traded up $0.46 during trading hours on Friday, hitting $65.52. The stock had a trading volume of 6,507,714 shares, compared to its average volume of 5,785,011. 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 Kroger Co. has a 1-year low of $49.04 and a 1-year high of $73.63. The business has a 50 day simple moving average of $68.89 and a two-hundred day simple moving average of $64.94. The company has a market cap of $43.30 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 2.85 and a beta of 0.58.

Wall Street Analyst Weigh In

KR has been the topic of a number of recent research reports. Roth Capital set a $58.00 target price on shares of Kroger in a report on Thursday, March 6th. Melius Research upgraded shares of Kroger from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 20th. Guggenheim increased their price objective on shares of Kroger from $71.00 to $73.00 and gave the stock a "buy" rating in a report on Thursday, April 3rd. Morgan Stanley increased their price objective on shares of Kroger from $65.00 to $71.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Finally, Citigroup increased their price objective on shares of Kroger from $61.00 to $65.00 and gave the stock a "neutral" rating in a report on Friday, March 7th. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Kroger has a consensus rating of "Moderate Buy" and an average target price of $68.06.

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.