Today’s Market Runner: Could Kroger Co Go Up After Touching 1 Year Low?

Today's Market Runner: Could Kroger Co Go Up After Touching 1 Year Low?

The stock of Kroger Co (NYSE:KR) hit a new 52-week low and has $26.21 target or 9.00% below today’s $28.80 share price. The 9 months bearish chart indicates high risk for the $26.93 billion company. The 1-year low was reported on Oct, 5 by Barchart.com. If the $26.21 price target is reached, the company will be worth $2.42B less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 4.39 million shares traded hands. Kroger Co (NYSE:KR) has declined 28.66% since March 2, 2016 and is downtrending. It has underperformed by 36.92% the S&P500.

Kroger Co (NYSE:KR) Ratings Coverage

Out of 26 analysts covering Kroger (NYSE:KR), 16 rate it a “Buy”, 1 “Sell”, while 9 “Hold”. This means 62% are positive. Kroger has been the topic of 43 analyst reports since August 25, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Argus Research given on Monday, December 14. Barclays Capital initiated Kroger Co (NYSE:KR) rating on Friday, September 23. Barclays Capital has “Equal-Weight” rating and $33 price target. RBC Capital Markets maintained the shares of KR in a report on Wednesday, September 7 with “Sector Perform” rating. The rating was maintained by Credit Suisse on Thursday, May 12 with “Neutral”. Pivotal Research maintained it with “Buy” rating and $46 target price in Friday, September 11 report. The stock of Kroger Co (NYSE:KR) earned “Buy” rating by Vetr on Thursday, September 3. The company was maintained on Friday, December 4 by Telsey Advisory Group. S&P Research maintained Kroger Co (NYSE:KR) rating on Monday, September 14. S&P Research has “Strong Buy” rating and $47 price target. The rating was maintained by Telsey Advisory Group with “Outperform” on Monday, September 12. Credit Suisse maintained the shares of KR in a report on Friday, January 22 with “Neutral” rating.

According to Zacks Investment Research, “Kroger Company is one of the larger grocery retailers in the United States. The company also manufactures and processes food for sale by its supermarkets. The company intends to develop new food and convenience store locations and will continue to assess existing stores as to possible replacement, remodeling, enlarging, or closing.”

Insitutional Activity: The institutional sentiment decreased to 0.72 in 2016 Q2. Its down 0.26, from 0.98 in 2016Q1. The ratio is negative, as 66 funds sold all Kroger Co shares owned while 323 reduced positions. 73 funds bought stakes while 207 increased positions. They now own 739.57 million shares or 2.27% less from 756.71 million shares in 2016Q1.
Metropolitan Life Insurance Ny holds 0.15% or 538,472 shares in its portfolio. Moreover, Tokio Marine Asset Management has 0.1% invested in Kroger Co (NYSE:KR) for 25,970 shares. Van Eck Associate Corporation reported 158,811 shares or 0.03% of all its holdings. Canada Pension Plan Invest Board has 0% invested in the company for 7,599 shares. Fca Corp Tx has 10,000 shares for 0.19% of their US portfolio. Eagle Asset Mngmt accumulated 96,715 shares or 0.02% of the stock. Moreover, Jacobs Levy Equity Mgmt has 0.73% invested in Kroger Co (NYSE:KR) for 955,600 shares. The France-based Axa has invested 0.13% in Kroger Co (NYSE:KR). Capital Guardian Tru Co last reported 900 shares in the company. Vsr Serv Inc holds 0.04% of its portfolio in Kroger Co (NYSE:KR) for 6,956 shares. Moreover, Axel Cap Management Limited Liability Corp has 1.7% invested in Kroger Co (NYSE:KR) for 52,000 shares. The Alabama-based Fjarde Ap has invested 0.17% in Kroger Co (NYSE:KR). Citigroup has 1.05 million shares for 0.04% of their US portfolio. Principal Financial Gru has 3.32 million shares for 0.17% of their US portfolio. Douglass Winthrop Advsrs Ltd Liability Corp last reported 0.04% of its portfolio in the stock.

Insider Transactions: Since April 6, 2016, the stock had 0 insider buys, and 2 insider sales for $1.42 million net activity. Dougherty Kevin M had sold 31,000 shares worth $962,550 on Thursday, September 15. 12,000 Kroger Co (NYSE:KR) shares with value of $465,000 were sold by VAN OFLEN MARY ELIZABETH. Another trade for 10,000 shares valued at $390,000 was sold by DONNELLY MICHAEL JOSEPH. 3,000 shares were sold by SARGENT RONALD, worth $114,261 on Friday, April 8.

More notable recent Kroger Co (NYSE:KR) news were published by: Investorplace.com which released: “Trade of the Day: Kroger Co (NYSE:KR)” on October 05, 2016, also Fool.com with their article: “Kroger Co Sales Growth Falls Victim to Lower Grocery Prices” published on September 09, 2016, Finance.Yahoo.com published: “National Business Group on Health Elects Theresa Monti, The Kroger Co …” on October 03, 2016. More interesting news about Kroger Co (NYSE:KR) were released by: Benzinga.com and their article: “Kroger Shares Still Lacking A Near-Term Catalyst” published on October 04, 2016 as well as Prnewswire.com‘s news article titled: “Kroger Launches New Line of Affordable Cage-Free Eggs” with publication date: September 06, 2016.

KR Company Profile

The Kroger Co. (Kroger), incorporated on April 3, 1902, operates retail food and drug stores, multi-department stores, jewelry stores and convenience stores across the United States. The Firm also makes and processes food for sale in its supermarkets. The Firm operates through retail activities segment. The Firm operates, either directly or through its subsidiaries, approximately 2,778 retail food stores under a range of local banner names, approximately 1,387 of which have fuel centers. Approximately 42% of these supermarkets are operated in the Company-owned facilities, including a range of Company-owned buildings on leased land. The Company’s supermarkets are operated under combination food and drug stores (combo stores), multi-department stores, marketplace stores or price impact warehouses. The Company’s corporate brand products are primarily produced and sold in approximately three tiers. Private Selection is the brand designed to beat the gourmet or upscale brands. The banner brand includes Kroger, Ralphs, Fred Meyer and King Soopers. The Company’s other brands also include Simple Truth and Simple Truth Organic.

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