Scotiabank Reiterates “$32.00” Price Target for Kroger (KR)

Scotiabank set a $32.00 price target on Kroger (NYSE:KR) in a research report sent to investors on Friday morning. The firm currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. Bank of America restated a buy rating and issued a $37.00 target price (up previously from $35.00) on shares of Kroger in a report on Friday, December 7th. Zacks Investment Research upgraded Kroger from a hold rating to a buy rating and set a $31.00 price objective for the company in a report on Tuesday, February 5th. Morgan Stanley cut their price objective on Kroger from $27.00 to $26.00 and set an equal weight rating for the company in a report on Friday. Loop Capital set a $30.00 price objective on Kroger and gave the stock a hold rating in a report on Friday, December 7th. Finally, Stephens set a $30.00 price objective on Kroger and gave the stock a hold rating in a report on Friday, December 7th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $30.33.

KR opened at $24.67 on Friday. The firm has a market capitalization of $19.52 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 1.85 and a beta of 0.73. Kroger has a 12-month low of $23.05 and a 12-month high of $32.74. The company has a quick ratio of 0.25, a current ratio of 0.73 and a debt-to-equity ratio of 1.53.

Kroger (NYSE:KR) last released its earnings results on Thursday, March 7th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.03). The business had revenue of $28.09 billion during the quarter, compared to analysts’ expectations of $28.38 billion. Kroger had a net margin of 2.99% and a return on equity of 26.64%. Kroger’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.63 EPS. Sell-side analysts anticipate that Kroger will post 2.16 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 15th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, February 14th. This represents a $0.56 annualized dividend and a dividend yield of 2.27%. Kroger’s dividend payout ratio is 27.45%.

In other Kroger news, VP Michael Joseph Donnelly sold 27,400 shares of the firm’s stock in a transaction dated Thursday, December 13th. The stock was sold at an average price of $29.60, for a total transaction of $811,040.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert D. Beyer sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $27.39, for a total value of $1,369,500.00. Following the transaction, the director now owns 230,722 shares in the company, valued at $6,319,475.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 142,588 shares of company stock worth $4,014,032. Corporate insiders own 1.07% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Doyle Wealth Management acquired a new stake in shares of Kroger in the fourth quarter valued at about $26,000. Riverview Trust Co acquired a new stake in shares of Kroger in the fourth quarter valued at about $26,000. Lindbrook Capital LLC acquired a new stake in shares of Kroger in the fourth quarter valued at about $32,000. Financial Gravity Companies Inc. acquired a new stake in shares of Kroger in the fourth quarter valued at about $33,000. Finally, Synovus Financial Corp grew its position in shares of Kroger by 263.9% in the fourth quarter. Synovus Financial Corp now owns 1,379 shares of the company’s stock valued at $38,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 80.27% 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.

Further Reading: Cost of Debt

Analyst Recommendations for Kroger (NYSE:KR)

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