The Kroger (NYSE:KR) PT Raised to $36.00

The Kroger (NYSE:KR) had its target price upped by Credit Suisse Group from $34.00 to $36.00 in a report published on Friday, PriceTargets.com reports. They currently have a neutral rating on the stock.

Several other research analysts have also commented on KR. Bank of America lowered shares of The Kroger from a neutral rating to an underperform rating and decreased their price target for the company from $40.00 to $28.00 in a report on Tuesday, February 23rd. Telsey Advisory Group boosted their target price on shares of The Kroger from $39.00 to $40.00 and gave the company a market perform rating in a research note on Friday. Morgan Stanley boosted their target price on shares of The Kroger from $28.00 to $29.00 and gave the company an underweight rating in a research note on Friday, March 5th. UBS Group boosted their target price on shares of The Kroger from $35.00 to $40.00 and gave the company a neutral rating in a research note on Friday. Finally, Citigroup boosted their target price on shares of The Kroger from $37.00 to $41.00 and gave the company a neutral rating in a research note on Friday. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the company. The Kroger presently has a consensus rating of Hold and an average price target of $35.58.

KR opened at $39.58 on Friday. The business has a 50-day moving average of $37.49. The company has a market cap of $29.97 billion, a P/E ratio of 12.18, a P/E/G ratio of 2.15 and a beta of 0.36. The Kroger has a 1-year low of $30.35 and a 1-year high of $42.99. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.81 and a quick ratio of 0.35.

The Kroger (NYSE:KR) last released its earnings results on Wednesday, June 16th. The company reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.20. The Kroger had a net margin of 1.95% and a return on equity of 28.31%. The company had revenue of $41.30 billion during the quarter, compared to the consensus estimate of $39.87 billion. During the same quarter in the previous year, the firm earned $1.22 EPS. The company’s revenue was down .6% on a year-over-year basis. As a group, sell-side analysts expect that The Kroger will post 2.83 earnings per share for the current year.

The Kroger declared that its Board of Directors has approved a share buyback plan on Thursday, June 17th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

In related news, SVP Mark C. Tuffin sold 21,000 shares of the business’s stock in a transaction that occurred on Friday, March 26th. The shares were sold at an average price of $36.88, for a total transaction of $774,480.00. Following the transaction, the senior vice president now directly owns 243,243 shares of the company’s stock, valued at $8,970,801.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Carin L. Fike sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 12th. The shares were sold at an average price of $37.96, for a total transaction of $75,920.00. The disclosure for this sale can be found here. Insiders have sold 45,000 shares of company stock worth $1,674,220 over the last ninety days. 1.35% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of KR. Berkshire Hathaway Inc boosted its holdings in shares of The Kroger by 52.3% during the 1st quarter. Berkshire Hathaway Inc now owns 51,060,296 shares of the company’s stock worth $1,837,660,000 after buying an additional 17,526,279 shares during the period. Norges Bank bought a new stake in shares of The Kroger in the 4th quarter worth about $226,065,000. Morgan Stanley grew its holdings in The Kroger by 95.1% during the 4th quarter. Morgan Stanley now owns 4,623,467 shares of the company’s stock worth $146,842,000 after acquiring an additional 2,253,301 shares during the last quarter. BlackRock Inc. grew its holdings in The Kroger by 2.5% during the 1st quarter. BlackRock Inc. now owns 74,072,030 shares of the company’s stock worth $2,665,850,000 after acquiring an additional 1,841,672 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in The Kroger by 13,815.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,725,541 shares of the company’s stock worth $62,102,000 after acquiring an additional 1,713,141 shares during the last quarter. 82.65% of the stock is owned by institutional investors.

About The Kroger

The Kroger Co operates as a retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.

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Analyst Recommendations for The Kroger (NYSE:KR)

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