Allstate Corp Buys New Position in The Kroger Co. $KR

Allstate Corp bought a new stake in The Kroger Co. (NYSE:KR) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 23,015 shares of the company’s stock, valued at approximately $1,551,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bank of Nova Scotia lifted its holdings 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 valued at $12,079,000 after buying an additional 85,223 shares during the last quarter. Monument Capital Management bought a new stake in shares of Kroger during the second quarter valued at approximately $2,901,000. Y Intercept Hong Kong Ltd boosted its position in shares of Kroger by 2,313.4% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 138,915 shares of the company’s stock valued at $9,964,000 after acquiring an additional 133,159 shares in the last quarter. Advocate Group LLC lifted its position in shares of Kroger by 16.6% during the 2nd quarter. Advocate Group LLC now owns 121,392 shares of the company’s stock worth $8,707,000 after buying an additional 17,284 shares during the period. Finally, AdvisorShares Investments LLC acquired a new stake in shares of Kroger during the 2nd quarter worth about $480,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Kroger Price Performance

Shares of NYSE:KR opened at $63.16 on Wednesday. The Kroger Co. has a 1-year low of $58.15 and a 1-year high of $74.90. The stock’s fifty day simple moving average is $63.65 and its two-hundred day simple moving average is $66.85. The stock has a market cap of $39.97 billion, a PE ratio of 58.49, a price-to-earnings-growth ratio of 1.77 and a beta of 0.61. The company has a current ratio of 0.88, a quick ratio of 0.45 and a debt-to-equity ratio of 2.28.

Kroger (NYSE:KR) last posted its quarterly earnings results on Thursday, December 4th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.02. The company had revenue of $33.86 billion during the quarter, compared to the consensus estimate of $34.27 billion. Kroger had a return on equity of 38.06% and a net margin of 0.54%.The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 EPS. 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.

Analysts Set New Price Targets

KR has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised shares of Kroger from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Thursday, January 8th. Citigroup reaffirmed a “neutral” rating and set a $68.00 price target (down from $74.00) on shares of Kroger in a research note on Wednesday, December 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kroger in a research note on Monday, December 29th. Guggenheim reissued a “buy” rating and set a $78.00 target price on shares of Kroger in a report on Wednesday, November 19th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $70.00 price objective (down from $78.00) on shares of Kroger in a report on Thursday, December 4th. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Kroger presently has a consensus rating of “Moderate Buy” and an average target price of $73.88.

Kroger Profile

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.