Kroger Company (The) (KR) Shares Gap Down to $22.14

Shares of Kroger Company (The) (NYSE:KR) gapped down prior to trading on Wednesday . The stock had previously closed at $22.79, but opened at $22.14. Kroger Company (The) shares last traded at $22.02, with a volume of 10357600 shares changing hands.

Several brokerages recently commented on KR. BidaskClub upgraded Kroger Company (The) from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $22.00 target price on shares of Kroger Company (The) in a report on Tuesday. Stephens began coverage on Kroger Company (The) in a report on Friday, August 11th. They issued an “underweight” rating and a $20.00 target price on the stock. Zacks Investment Research upgraded Kroger Company (The) from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Finally, Northcoast Research upgraded Kroger Company (The) from a “neutral” rating to a “buy” rating in a report on Monday, November 6th. Nineteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $29.10.

The stock has a market capitalization of $19,590.00, a PE ratio of 11.59, a P/E/G ratio of 1.70 and a beta of 0.83. The company has a current ratio of 0.87, a quick ratio of 0.33 and a debt-to-equity ratio of 2.13.

Kroger Company (The) (NYSE:KR) last released its quarterly earnings results on Friday, September 8th. The company reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. The business had revenue of $27.60 billion during the quarter, compared to analyst estimates of $27.48 billion. Kroger Company (The) had a return on equity of 28.04% and a net margin of 1.32%. Kroger Company (The)’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 EPS. equities research analysts predict that Kroger Company will post 2 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Tuesday, November 14th. Kroger Company (The)’s payout ratio is currently 30.30%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KR. Howe & Rusling Inc. purchased a new stake in Kroger Company (The) in the 3rd quarter valued at $103,000. Dupont Capital Management Corp purchased a new stake in Kroger Company (The) in the 2nd quarter valued at $105,000. Cedar Wealth Management LLC raised its position in Kroger Company (The) by 155.9% in the 2nd quarter. Cedar Wealth Management LLC now owns 4,990 shares of the company’s stock valued at $116,000 after buying an additional 3,040 shares during the last quarter. CWM LLC raised its position in Kroger Company (The) by 1,162.2% in the 2nd quarter. CWM LLC now owns 5,213 shares of the company’s stock valued at $122,000 after buying an additional 4,800 shares during the last quarter. Finally, Grove Bank & Trust raised its position in Kroger Company (The) by 9.3% in the 2nd quarter. Grove Bank & Trust now owns 5,287 shares of the company’s stock valued at $124,000 after buying an additional 450 shares during the last quarter. 75.06% of the stock is owned by institutional investors and hedge funds.

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About Kroger Company (The)

The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.

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