Pivotal Research downgraded shares of Kroger (NYSE:KR) from a buy rating to a hold rating in a report issued on Monday, MarketBeat.com reports. Pivotal Research currently has $31.00 price objective on the stock, up from their previous price objective of $30.00.
KR has been the subject of several other research reports. ValuEngine downgraded shares of Kroger from a sell rating to a strong sell rating in a research report on Saturday, June 2nd. Loop Capital set a $25.00 price target on shares of Kroger and gave the company a hold rating in a research report on Monday, March 26th. Bank of America cut their price objective on shares of Kroger from $33.00 to $28.00 and set a neutral rating on the stock in a report on Friday, March 9th. Zacks Investment Research raised shares of Kroger from a hold rating to a buy rating and set a $30.00 price objective on the stock in a report on Friday, March 2nd. Finally, Credit Suisse Group assumed coverage on shares of Kroger in a report on Tuesday, April 17th. They set an outperform rating and a $28.00 price objective on the stock. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Kroger has a consensus rating of Hold and an average target price of $28.20.
Kroger opened at $29.01 on Monday, according to MarketBeat.com. Kroger has a 12-month low of $19.69 and a 12-month high of $31.45. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.76 and a quick ratio of 0.29. The firm has a market capitalization of $23.58 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 2.19 and a beta of 1.03.
Kroger (NYSE:KR) last posted its quarterly earnings results on Thursday, June 21st. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.10. Kroger had a net margin of 2.93% and a return on equity of 29.59%. The business had revenue of $37.53 billion during the quarter, compared to the consensus estimate of $37.25 billion. During the same quarter last year, the firm posted $0.58 EPS. Kroger’s revenue was up 3.4% compared to the same quarter last year. sell-side analysts expect that Kroger will post 2.11 earnings per share for the current year.
Kroger announced that its Board of Directors has initiated a share buyback plan on Thursday, March 15th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
A number of institutional investors have recently made changes to their positions in the stock. Canyon Capital Advisors LLC raised its stake in Kroger by 29.3% in the 1st quarter. Canyon Capital Advisors LLC now owns 2,888,900 shares of the company’s stock valued at $69,160,000 after acquiring an additional 655,419 shares during the period. Trust Investment Advisors increased its position in shares of Kroger by 14.6% during the first quarter. Trust Investment Advisors now owns 25,100 shares of the company’s stock valued at $601,000 after buying an additional 3,200 shares during the period. Amalgamated Bank increased its position in shares of Kroger by 3.7% during the first quarter. Amalgamated Bank now owns 119,947 shares of the company’s stock valued at $2,872,000 after buying an additional 4,303 shares during the period. Summit Trail Advisors LLC increased its position in shares of Kroger by 2,273.0% during the first quarter. Summit Trail Advisors LLC now owns 227,312 shares of the company’s stock valued at $227,000 after buying an additional 217,733 shares during the period. Finally, Navellier & Associates Inc bought a new stake in shares of Kroger during the first quarter valued at about $208,000. Institutional investors and hedge funds own 81.21% of the company’s stock.
Kroger Company Profile
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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