Kroger Co (KR) Receives $30.00 Average Price Target from Analysts

Shares of Kroger Co (NYSE:KR) have received an average recommendation of “Hold” from the twenty-three brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $30.00.

KR has been the topic of several recent analyst reports. Zacks Investment Research raised Kroger from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Tuesday, August 21st. Morgan Stanley dropped their price target on Kroger from $28.00 to $27.00 and set a “hold” rating on the stock in a research note on Thursday, September 27th. TheStreet upgraded Kroger from a “c+” rating to a “b” rating in a research note on Friday, June 29th. Credit Suisse Group set a $33.00 price target on Kroger and gave the company a “hold” rating in a research note on Thursday, September 13th. Finally, Deutsche Bank downgraded Kroger from a “hold” rating to a “sell” rating and dropped their price target for the company from $30.00 to $24.00 in a research note on Tuesday, October 9th.

NYSE:KR traded up $0.07 during mid-day trading on Friday, hitting $27.43. 29,139 shares of the company’s stock traded hands, compared to its average volume of 9,197,086. Kroger has a twelve month low of $20.36 and a twelve month high of $32.74. The firm has a market capitalization of $21.76 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.97 and a beta of 0.92. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.73 and a quick ratio of 0.26.

Kroger (NYSE:KR) last announced its earnings results on Thursday, September 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.03. Kroger had a return on equity of 28.05% and a net margin of 3.05%. The company had revenue of $27.87 billion for the quarter, compared to analyst estimates of $27.95 billion. During the same period in the prior year, the company posted $0.39 EPS. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, analysts expect that Kroger will post 2.11 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Thursday, November 15th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.04%. Kroger’s payout ratio is 27.45%.

In other news, SVP Calvin J. Kaufman sold 10,500 shares of the company’s stock in a transaction dated Thursday, October 11th. The stock was sold at an average price of $27.47, for a total value of $288,435.00. Following the sale, the senior vice president now owns 124,688 shares in the company, valued at $3,425,179.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Erin S. Sharp sold 25,314 shares of the company’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $29.00, for a total value of $734,106.00. The disclosure for this sale can be found here. Insiders sold 36,575 shares of company stock worth $1,044,779 in the last 90 days. Company insiders own 1.07% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Legacy Advisors LLC purchased a new position in Kroger during the third quarter worth approximately $1,254,000. TIAA FSB boosted its position in Kroger by 18.7% during the third quarter. TIAA FSB now owns 24,391 shares of the company’s stock worth $710,000 after purchasing an additional 3,842 shares in the last quarter. Bowling Portfolio Management LLC boosted its position in Kroger by 141.1% during the third quarter. Bowling Portfolio Management LLC now owns 210,482 shares of the company’s stock worth $6,127,000 after purchasing an additional 123,164 shares in the last quarter. Aperio Group LLC boosted its position in Kroger by 36.2% during the third quarter. Aperio Group LLC now owns 894,197 shares of the company’s stock worth $26,030,000 after purchasing an additional 237,440 shares in the last quarter. Finally, Breiter Capital Management Inc. boosted its position in Kroger by 60.1% during the third quarter. Breiter Capital Management Inc. now owns 32,063 shares of the company’s stock worth $933,000 after purchasing an additional 12,036 shares in the last quarter. Hedge funds and other institutional investors own 79.00% of the company’s stock.

About Kroger

The Kroger Co, together with its subsidiaries, operates as a retailer in the United States. It also manufactures and processes food products for sale in its supermarkets. The company operates supermarkets, multi-department stores, jewelry stores, and convenience stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; multi-department stores provide general merchandise items, such as apparel, home fashion and furnishings, outdoor living, electronics, automotive products, toys, and fine jewelry; and price impact warehouse stores offer grocery, and health and beauty care items, as well as meat, dairy, baked goods, and fresh produce items.

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Analyst Recommendations for Kroger (NYSE:KR)

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