Evercore ISI Lowers Kroger (NYSE:KR) Price Target to $75.00

Kroger (NYSE:KR) had its price target lowered by Evercore ISI from $76.00 to $75.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts also recently issued reports on the stock. Roth Capital set a $58.00 price target on shares of Kroger in a report on Thursday, March 6th. Citigroup raised their price target on shares of Kroger from $61.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, March 7th. Melius raised shares of Kroger from a “sell” rating to a “hold” rating and set a $70.00 price target on the stock in a report on Tuesday, May 20th. JPMorgan Chase & Co. raised their price target on shares of Kroger from $72.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Finally, Morgan Stanley raised their price objective on shares of Kroger from $65.00 to $71.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.11.

Kroger Stock Performance

Shares of NYSE KR opened at $65.38 on Tuesday. The firm’s 50-day moving average price is $68.81 and its 200-day moving average price is $65.12. The company has a quick ratio of 0.52, a current ratio of 0.96 and a debt-to-equity ratio of 2.13. The company has a market cap of $43.21 billion, a PE ratio of 17.81, a PEG ratio of 1.96 and a beta of 0.58. Kroger has a 52-week low of $49.04 and a 52-week high of $73.63.

Insiders Place Their Bets

In other Kroger news, EVP Christine S. Wheatley sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $72.07, for a total transaction of $2,162,100.00. Following the sale, the executive vice president now owns 97,737 shares in the company, valued at approximately $7,043,905.59. This trade represents a 23.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian W. Nichols sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $72.03, for a total transaction of $72,030.00. Following the sale, the vice president now owns 10,473 shares in the company, valued at approximately $754,370.19. The trade was a 8.72% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,679 shares of company stock worth $7,865,706. Company insiders own 0.44% of the company’s stock.

Hedge Funds Weigh In On Kroger

Several institutional investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Kroger in the 4th quarter worth about $598,390,000. Steadfast Capital Management LP purchased a new position in Kroger during the 4th quarter valued at about $277,989,000. Junto Capital Management LP purchased a new position in Kroger during the 4th quarter valued at about $264,207,000. Wellington Management Group LLP increased its position in Kroger by 85.3% during the 1st quarter. Wellington Management Group LLP now owns 6,397,771 shares of the company’s stock valued at $433,065,000 after purchasing an additional 2,945,848 shares during the period. Finally, Nuveen LLC purchased a new position in Kroger during the 1st quarter valued at about $178,385,000. Institutional investors own 80.93% of the company’s stock.

About Kroger

The Kroger Co operates as a food and drug 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.