Kroger Co. (KR) has recently broken above its upper Bollinger Band, which may signal that the stock is set to drop. As the stock moves back below the upper band and towards the middle band, investors may want to consider selling the stock or exploring put options. According to the A.I.dvisor, in 29 out of 46 similar instances where the stock broke above the upper band, the stock fell afterward, putting the odds of success at 63%.
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Who’s Buying and Selling Kroger’s Shares?
Large investors have recently bought and sold shares of the company, which may impact Kroger’s future performance. Sanders Capital LLC bought a new stake in Kroger shares worth approximately $622,480,000 in the 1st quarter, while Boston Partners increased its stake by 5,992.3% during the same quarter. Norges Bank also purchased a new position in Kroger shares worth about $156,126,000 in the fourth quarter of 2022. BlackRock Inc. grew its holdings in shares of Kroger by 5.5% in the third quarter, and Pacer Advisors Inc. increased its position in Kroger shares by 12,613.8% in the fourth quarter of 2022. Institutional investors currently own 78.03% of Kroger’s stock.
Kroger’s Trading Performance
On Tuesday, May 16, 2023, KR opened at $49.07 and has been trading down by 0.2%. Kroger has a 52-week low of $41.81 and a 52-week high of $54.04, with a market cap of $35.21 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.82, and a beta of 0.47. The company’s debt-to-equity ratio is 1.21, its quick ratio is 0.30, and its current ratio is 0.74. The company’s fifty-day moving average is $48.26, and its 200-day moving average is $46.61.
What Could Be Next for Kroger’s Stock?
As Kroger’s bullish trend seems to be over, investors may want to consider the stock’s potential downward movement and assess their portfolio accordingly. While the company’s financials seem solid, large investors buying and selling the stock and the current market conditions may impact Kroger’s future performance. It’s crucial for investors to keep an eye on the company’s news and developments to make informed decisions and stay ahead of the curve.
The 10-day moving average for KR crossed bullishly above the 50-day moving average on July 17, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 12 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
an operator of supermarkets and convenience stores
Industry FoodRetail