Truist Financial Corp Sells 20,695 Shares of The Kroger Co. $KR

Truist Financial Corp decreased its holdings in shares of The Kroger Co. (NYSE:KR) by 9.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,667 shares of the company’s stock after selling 20,695 shares during the period. Truist Financial Corp’s holdings in Kroger were worth $12,651,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in KR. Bank of Nova Scotia grew its position in shares of Kroger by 102.5% during the 2nd quarter. Bank of Nova Scotia now owns 168,395 shares of the company’s stock worth $12,079,000 after buying an additional 85,223 shares during the period. Monument Capital Management bought a new position in Kroger during the second quarter worth $2,901,000. Y Intercept Hong Kong Ltd grew its holdings in Kroger by 2,313.4% in the second quarter. Y Intercept Hong Kong Ltd now owns 138,915 shares of the company’s stock worth $9,964,000 after purchasing an additional 133,159 shares during the period. Advocate Group LLC increased its stake in Kroger by 16.6% in the second quarter. Advocate Group LLC now owns 121,392 shares of the company’s stock valued at $8,707,000 after purchasing an additional 17,284 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Kroger by 43.4% during the 3rd quarter. CWM LLC now owns 72,244 shares of the company’s stock worth $4,870,000 after purchasing an additional 21,876 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on KR shares. JPMorgan Chase & Co. decreased their target price on Kroger from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Guggenheim reissued a “buy” rating and issued a $78.00 price objective on shares of Kroger in a research note on Wednesday, November 19th. Morgan Stanley set a $67.00 price objective on Kroger and gave the company an “equal weight” rating in a report on Thursday, January 15th. Barclays set a $68.00 target price on Kroger and gave the stock an “equal weight” rating in a report on Thursday, January 8th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $80.00 price target (down previously from $82.00) on shares of Kroger in a research note on Monday, December 1st. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.80.

Kroger Price Performance

Shares of NYSE:KR opened at $62.82 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.45 and a debt-to-equity ratio of 2.28. The stock has a market cap of $39.75 billion, a PE ratio of 58.16, a price-to-earnings-growth ratio of 1.73 and a beta of 0.61. The stock’s fifty day simple moving average is $63.09 and its two-hundred day simple moving average is $66.43. The Kroger Co. has a 1-year low of $58.60 and a 1-year high of $74.90.

Kroger (NYSE:KR) last posted its earnings results on Thursday, December 4th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.02. Kroger had a net margin of 0.54% and a return on equity of 38.06%. The firm had revenue of $33.86 billion during the quarter, compared to analyst estimates of $34.27 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The business’s revenue was up .7% compared to the same quarter last year. Kroger has set its FY 2025 guidance at 4.750-4.800 EPS. As a group, analysts forecast that The Kroger Co. will post 4.44 EPS for the current fiscal year.

About Kroger

The Kroger Co (NYSE: KR) is one of the largest supermarket operators in the United States, offering a wide range of retail grocery and related services. Founded in Cincinnati in 1883 by Bernard Kroger, the company operates a portfolio of supermarket and multi-department store banners and provides customers with fresh foods, packaged groceries, deli and bakery items, meat and seafood, produce, and prepared foods. Kroger’s stores commonly include pharmacy services and fuel centers, positioning the company as a broad-based neighborhood retail destination for everyday needs.

In addition to traditional in-store retailing, Kroger manufactures and distributes a variety of private-label brands and operates its own food production and supply-chain facilities.