Kroger (NYSE:KR) Price Target Raised to $29.00

Kroger (NYSE:KR) had its price objective increased by Telsey Advisory Group from $27.00 to $29.00 in a research report released on Wednesday morning, Briefing.com Automated Import reports. The brokerage currently has a market perform rating on the stock.

A number of other research firms also recently weighed in on KR. ValuEngine downgraded shares of Kroger from a hold rating to a sell rating in a research note on Monday, November 4th. Citigroup cut their price target on shares of Kroger from $30.00 to $21.00 and set a buy rating on the stock in a research note on Tuesday, September 24th. Bank of America set a $28.00 price target on shares of Kroger and gave the stock a buy rating in a research note on Friday, September 13th. Jefferies Financial Group downgraded shares of Kroger from a buy rating to a hold rating and cut their price target for the stock from $29.00 to $26.00 in a research note on Thursday, October 10th. Finally, BMO Capital Markets reaffirmed a market perform rating and set a $26.00 price target (up previously from $24.00) on shares of Kroger in a research note on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. Kroger has an average rating of Hold and a consensus price target of $27.37.

NYSE:KR traded up $0.16 during trading hours on Wednesday, reaching $27.02. 6,533,301 shares of the company were exchanged, compared to its average volume of 8,694,465. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.76 and a quick ratio of 0.27. The firm has a market cap of $22.31 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 2.00 and a beta of 0.56. Kroger has a 52-week low of $20.70 and a 52-week high of $31.98. The stock has a 50 day simple moving average of $25.12 and a 200 day simple moving average of $23.89.

Kroger (NYSE:KR) last posted its quarterly earnings results on Thursday, September 12th. The company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.03. The company had revenue of $28.17 billion for the quarter, compared to the consensus estimate of $28.34 billion. Kroger had a net margin of 1.36% and a return on equity of 21.17%. Kroger’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 earnings per share. On average, analysts predict that Kroger will post 2.19 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.64 dividend on an annualized basis and a yield of 2.37%. Kroger’s dividend payout ratio (DPR) is 30.33%.

In other news, SVP Mary Ellen Adcock sold 15,400 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $28.00, for a total value of $431,200.00. Following the transaction, the senior vice president now directly owns 121,085 shares in the company, valued at approximately $3,390,380. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Carin L. Fike sold 4,652 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $26.00, for a total transaction of $120,952.00. Following the completion of the transaction, the vice president now owns 33,796 shares in the company, valued at $878,696. The disclosure for this sale can be found here. Insiders have sold a total of 134,323 shares of company stock worth $3,537,389 over the last quarter. 1.34% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Northern Trust Corp lifted its position in Kroger by 1.1% in the 2nd quarter. Northern Trust Corp now owns 10,715,151 shares of the company’s stock valued at $232,626,000 after purchasing an additional 114,919 shares during the last quarter. Victory Capital Management Inc. lifted its position in Kroger by 30.2% in the 2nd quarter. Victory Capital Management Inc. now owns 10,689,834 shares of the company’s stock valued at $232,077,000 after purchasing an additional 2,477,585 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in Kroger by 0.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 6,935,089 shares of the company’s stock valued at $150,561,000 after purchasing an additional 50,031 shares during the last quarter. Invesco Ltd. lifted its position in Kroger by 22.3% in the 2nd quarter. Invesco Ltd. now owns 6,846,979 shares of the company’s stock valued at $148,647,000 after purchasing an additional 1,249,723 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Kroger by 12.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,721,774 shares of the company’s stock valued at $145,930,000 after purchasing an additional 736,492 shares during the last quarter. Institutional investors own 80.35% of the company’s stock.

About Kroger

The Kroger Co operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. 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 Kroger (NYSE:KR)

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