Kroger (KR) Given New $28.00 Price Target at Bank of America

Kroger (NYSE:KR) had its price objective cut by Bank of America from $33.00 to $28.00 in a report released on Friday morning. They currently have a neutral rating on the stock.

Other equities analysts also recently issued reports about the company. TheStreet upgraded Kroger from a c+ rating to a b rating in a research report on Wednesday, December 27th. Citigroup boosted their price objective on Kroger from $30.00 to $33.00 and gave the stock a buy rating in a research report on Tuesday, December 26th. Moffett Nathanson started coverage on Kroger in a research report on Monday, December 4th. They set a buy rating for the company. Pivotal Research set a $30.00 target price on Kroger and gave the stock a buy rating in a report on Saturday, December 2nd. Finally, Zacks Investment Research raised Kroger from a hold rating to a buy rating and set a $31.00 target price on the stock in a report on Tuesday, January 2nd. Sixteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $27.36.

Kroger (NYSE:KR) opened at $23.99 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.32 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $21,140.00, a P/E ratio of 14.28, a PEG ratio of 3.90 and a beta of 1.04. Kroger has a 52-week low of $19.69 and a 52-week high of $31.45.

Kroger (NYSE:KR) last issued its quarterly earnings data on Thursday, March 8th. The company reported $0.63 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. The business had revenue of $31.03 billion during the quarter, compared to the consensus estimate of $30.81 billion. Kroger had a return on equity of 29.27% and a net margin of 1.55%. The business’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 earnings per share. research analysts anticipate that Kroger will post 2.06 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th were issued a $0.125 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $0.50 annualized dividend and a dividend yield of 2.08%. Kroger’s dividend payout ratio is currently 29.76%.

In other Kroger news, VP Todd A. Foley sold 3,800 shares of the company’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $24.43, for a total value of $92,834.00. Following the transaction, the vice president now owns 31,273 shares of the company’s stock, valued at $763,999.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher T. Hjelm sold 16,530 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $27.00, for a total value of $446,310.00. Following the completion of the transaction, the insider now directly owns 243,784 shares in the company, valued at approximately $6,582,168. The disclosure for this sale can be found here. Insiders sold 110,130 shares of company stock worth $3,187,062 in the last ninety days. 0.87% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. grew its position in Kroger by 36.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 138,092 shares of the company’s stock worth $3,791,000 after purchasing an additional 36,544 shares in the last quarter. Rehmann Capital Advisory Group purchased a new position in Kroger during the 4th quarter worth approximately $203,000. Xact Kapitalforvaltning AB grew its position in Kroger by 12.4% during the 4th quarter. Xact Kapitalforvaltning AB now owns 82,693 shares of the company’s stock worth $2,270,000 after purchasing an additional 9,143 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Kroger by 2.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 276,710 shares of the company’s stock worth $7,595,000 after purchasing an additional 5,863 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Kroger by 1.5% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 360,305 shares of the company’s stock worth $9,890,000 after purchasing an additional 5,257 shares in the last quarter. 75.78% of the stock is currently owned by institutional investors.

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Kroger Company Profile

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.

Analyst Recommendations for Kroger (NYSE:KR)

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