Kroger (KR) PT Raised to $31.00

Kroger (NYSE:KR) had its target price boosted by Telsey Advisory Group from $29.00 to $31.00 in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has a market perform rating on the stock.

KR has been the subject of a number of other reports. Zacks Investment Research raised shares of Kroger from a hold rating to a buy rating and set a $35.00 target price for the company in a research report on Tuesday, August 21st. Morgan Stanley reduced their target price on shares of Kroger from $28.00 to $27.00 and set a hold rating for the company in a research report on Thursday, September 27th. Credit Suisse Group set a $33.00 target price on shares of Kroger and gave the company a hold rating in a research report on Thursday, September 13th. Deutsche Bank downgraded shares of Kroger from a hold rating to a sell rating and reduced their target price for the company from $30.00 to $24.00 in a research report on Tuesday, October 9th. Finally, Stephens set a $28.00 price target on shares of Kroger and gave the company a hold rating in a research note on Friday, September 14th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $30.40.

Kroger stock opened at $30.17 on Wednesday. Kroger has a twelve month low of $21.15 and a twelve month high of $32.74. The company has a market cap of $24.06 billion, a PE ratio of 13.65, a P/E/G ratio of 2.34 and a beta of 0.77. The company has a quick ratio of 0.26, a current ratio of 0.73 and a debt-to-equity ratio of 1.65.

Kroger (NYSE:KR) last released its earnings results on Thursday, September 13th. The company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.03. Kroger had a net margin of 3.05% and a return on equity of 28.05%. The firm had revenue of $27.87 billion during the quarter, compared to the consensus estimate of $27.95 billion. During the same period in the prior year, the firm earned $0.39 EPS. The company’s revenue was up 1.0% compared to the same quarter last year. On average, equities analysts expect that Kroger will post 2.13 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Thursday, November 15th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Wednesday, November 14th. Kroger’s payout ratio is currently 27.45%.

In other Kroger news, Director Clyde R. Moore sold 13,000 shares of the stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $29.06, for a total value of $377,780.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Calvin J. Kaufman sold 10,500 shares of the stock in a transaction that occurred on Thursday, October 11th. The stock was sold at an average price of $27.47, for a total transaction of $288,435.00. Following the completion of the sale, the senior vice president now owns 124,688 shares in the company, valued at $3,425,179.36. The disclosure for this sale can be found here. Insiders have sold a total of 49,575 shares of company stock worth $1,422,559 over the last 90 days. 1.07% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its stake in Kroger by 1.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 585,726 shares of the company’s stock worth $16,663,000 after purchasing an additional 8,931 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Kroger by 5.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 153,774 shares of the company’s stock worth $4,375,000 after purchasing an additional 7,257 shares in the last quarter. Goodman Financial Corp lifted its stake in Kroger by 8.0% in the 2nd quarter. Goodman Financial Corp now owns 251,903 shares of the company’s stock worth $7,167,000 after purchasing an additional 18,724 shares in the last quarter. Savant Capital LLC purchased a new stake in Kroger in the 2nd quarter worth approximately $250,000. Finally, Kiley Juergens Wealth Management LLC purchased a new stake in Kroger in the 2nd quarter worth approximately $173,000. Institutional investors and hedge funds own 79.38% of the company’s stock.

Kroger Company Profile

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.

Read More: S&P 500 Index

Analyst Recommendations for Kroger (NYSE:KR)

Receive News & Ratings for Kroger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kroger and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply