Kroger (NYSE:KR) has been assigned a $30.00 price target by investment analysts at Credit Suisse Group in a research note issued to investors on Thursday. The brokerage currently has a “buy” rating on the stock. Credit Suisse Group’s target price indicates a potential upside of 20.10% from the stock’s previous close.
A number of other equities research analysts have also recently commented on the stock. ValuEngine cut shares of Kroger from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Loop Capital set a $25.00 price target on shares of Kroger and gave the stock a “hold” rating in a report on Monday, March 26th. Zacks Investment Research upgraded shares of Kroger from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Friday, March 2nd. Bank of America reduced their price objective on shares of Kroger from $33.00 to $28.00 and set a “neutral” rating for the company in a report on Friday, March 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $38.00 price objective on shares of Kroger in a report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $27.48.
Shares of KR traded down $0.32 during trading hours on Thursday, hitting $24.98. 14,360 shares of the stock were exchanged, compared to its average volume of 10,228,522. Kroger has a fifty-two week low of $24.71 and a fifty-two week high of $25.03. The company has a quick ratio of 0.32, a current ratio of 0.78 and a debt-to-equity ratio of 1.74. The stock has a market cap of $20.05 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 2.06 and a beta of 1.03.
Kroger (NYSE:KR) last posted its quarterly earnings data on Thursday, March 8th. The company reported $0.63 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. Kroger had a net margin of 1.55% and a return on equity of 29.27%. The company had revenue of $31.03 billion during the quarter, compared to analysts’ expectations of $30.81 billion. During the same period in the prior year, the company posted $0.53 earnings per share. Kroger’s revenue for the quarter was up 12.4% compared to the same quarter last year. sell-side analysts anticipate that Kroger will post 2.07 EPS for the current fiscal year.
Kroger announced that its Board of Directors has approved a stock repurchase program on Thursday, March 15th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
In other Kroger news, VP Todd A. Foley sold 3,800 shares of Kroger stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $24.43, for a total value of $92,834.00. Following the sale, the vice president now owns 31,273 shares of the company’s stock, valued at $763,999.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.85% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Sanders Capital LLC purchased a new position in shares of Kroger in the fourth quarter worth about $293,538,000. Victory Capital Management Inc. increased its stake in shares of Kroger by 12,471.3% in the first quarter. Victory Capital Management Inc. now owns 8,414,351 shares of the company’s stock worth $201,439,000 after purchasing an additional 8,347,418 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in Kroger during the fourth quarter valued at approximately $89,873,000. Alliancebernstein L.P. grew its stake in Kroger by 70.1% during the fourth quarter. Alliancebernstein L.P. now owns 4,645,757 shares of the company’s stock valued at $127,526,000 after acquiring an additional 1,914,070 shares in the last quarter. Finally, Minneapolis Portfolio Management Group LLC purchased a new position in Kroger during the fourth quarter valued at approximately $49,450,000. 79.47% of the stock is currently owned by institutional investors and hedge funds.
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.
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