Kroger (NYSE:KR) Sets New 52-Week High – Here’s What Happened

The Kroger Co. (NYSE:KR) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $59.60 and last traded at $59.59, with a volume of 210661 shares. The stock had previously closed at $57.39.

Analysts Set New Price Targets

A number of research analysts have commented on the company. JPMorgan Chase & Co. boosted their price objective on Kroger from $58.00 to $59.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $62.00 target price on shares of Kroger in a research report on Wednesday, October 9th. Evercore ISI lifted their price target on shares of Kroger from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. StockNews.com downgraded Kroger from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 16th. Finally, BNP Paribas assumed coverage on shares of Kroger in a research note on Friday, October 18th. They set a “neutral” rating and a $56.00 target price for the company. Four analysts have rated the stock with a hold rating, eight have assigned 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 a consensus rating of “Moderate Buy” and a consensus target price of $60.09.

Kroger Stock Performance

The firm has a market capitalization of $43.34 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 0.87 and a beta of 0.48. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.87 and a quick ratio of 0.46. The firm’s fifty day moving average is $55.52 and its 200 day moving average is $53.94.

Kroger (NYSE:KR) last released its quarterly earnings data on Thursday, September 12th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The firm had revenue of $33.91 billion for the quarter, compared to the consensus estimate of $34.09 billion. Kroger had a return on equity of 28.54% and a net margin of 1.86%. The firm’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.96 earnings per share. On average, analysts predict that The Kroger Co. will post 4.46 EPS for the current fiscal year.

Kroger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, November 15th. This represents a $1.28 annualized dividend and a yield of 2.14%. Kroger’s payout ratio is 33.51%.

Insider Activity

In other news, VP Brian W. Nichols sold 6,922 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $55.80, for a total transaction of $386,247.60. Following the transaction, the vice president now owns 14,063 shares in the company, valued at approximately $784,715.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Brian W. Nichols sold 6,922 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $55.80, for a total transaction of $386,247.60. Following the sale, the vice president now directly owns 14,063 shares in the company, valued at approximately $784,715.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Valerie L. Jabbar sold 3,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $55.91, for a total transaction of $167,730.00. Following the completion of the sale, the senior vice president now directly owns 74,084 shares in the company, valued at approximately $4,142,036.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,932 shares of company stock valued at $721,243. 1.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of KR. Altshuler Shaham Ltd acquired a new position in shares of Kroger during the second quarter worth approximately $28,000. Northwest Investment Counselors LLC acquired a new position in Kroger during the 3rd quarter worth $34,000. Newbridge Financial Services Group Inc. lifted its stake in shares of Kroger by 218.8% during the second quarter. Newbridge Financial Services Group Inc. now owns 714 shares of the company’s stock valued at $36,000 after acquiring an additional 490 shares during the period. Harbor Capital Advisors Inc. bought a new position in shares of Kroger in the 3rd quarter valued at about $40,000. Finally, ORG Partners LLC bought a new stake in shares of Kroger during the 2nd quarter valued at $42,000. Institutional investors own 80.93% of the company’s stock.

Kroger Company Profile

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.