TheStreet upgraded shares of Kroger (NYSE:KR) from a c+ rating to a b rating in a research report released on Friday.
Several other research analysts have also issued reports on the stock. ValuEngine lowered shares of Kroger from a sell rating to a strong sell rating in a research note on Saturday, June 2nd. Loop Capital set a $25.00 target price on shares of Kroger and gave the stock a hold rating in a research note on Monday, March 26th. Zacks Investment Research raised shares of Kroger from a hold rating to a buy rating and set a $30.00 target price on the stock in a research note on Friday, March 2nd. Bank of America cut their target price on shares of Kroger from $33.00 to $28.00 and set a neutral rating on the stock in a research note on Friday, March 9th. Finally, Credit Suisse Group initiated coverage on shares of Kroger in a research note on Tuesday, April 17th. They set an outperform rating and a $28.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Kroger presently has a consensus rating of Hold and an average price target of $28.71.
KR opened at $28.22 on Friday. Kroger has a twelve month low of $19.69 and a twelve month high of $31.45. The company has a quick ratio of 0.29, a current ratio of 0.76 and a debt-to-equity ratio of 1.74. The firm has a market cap of $22.87 billion, a PE ratio of 13.83, a PEG ratio of 2.01 and a beta of 1.03.
Kroger (NYSE:KR) last posted its quarterly earnings data on Thursday, June 21st. The company reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $37.53 billion during the quarter, compared to analysts’ expectations of $37.25 billion. During the same period in the prior year, the company posted $0.58 earnings per share. Kroger’s revenue for the quarter was up 3.4% compared to the same quarter last year. research analysts anticipate that Kroger will post 2.11 earnings per share for the current fiscal year.
Kroger declared that its board has authorized a share repurchase plan on Thursday, March 15th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Saturday, September 1st. Investors of record on Wednesday, August 15th will be given a dividend of $0.14 per share. This is a positive change from Kroger’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Tuesday, August 14th. Kroger’s dividend payout ratio (DPR) is presently 24.51%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LSV Asset Management lifted its position in shares of Kroger by 5.9% during the first quarter. LSV Asset Management now owns 14,949,247 shares of the company’s stock valued at $357,884,000 after purchasing an additional 836,300 shares in the last quarter. Franklin Resources Inc. increased its holdings in Kroger by 0.4% during the fourth quarter. Franklin Resources Inc. now owns 11,973,513 shares of the company’s stock worth $328,675,000 after buying an additional 51,780 shares during the last quarter. Aristotle Capital Management LLC increased its holdings in Kroger by 7.2% during the first quarter. Aristotle Capital Management LLC now owns 10,367,993 shares of the company’s stock worth $248,210,000 after buying an additional 696,119 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Kroger by 12,471.3% during the first quarter. Victory Capital Management Inc. now owns 8,414,351 shares of the company’s stock worth $201,439,000 after buying an additional 8,347,418 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in Kroger by 24.5% during the first quarter. Prudential Financial Inc. now owns 7,213,094 shares of the company’s stock worth $172,681,000 after buying an additional 1,418,027 shares during the last quarter. 81.25% of the stock is currently owned by institutional investors.
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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