Kroger (NYSE:KR) had its price target boosted by UBS Group from $29.00 to $31.00 in a research note released on Wednesday, www.benzinga.com reports. UBS Group currently has a neutral rating on the stock.
Several other brokerages have also weighed in on KR. Deutsche Bank lowered Kroger from a hold rating to a sell rating and cut their target price for the stock from $30.00 to $24.00 in a research report on Tuesday, October 9th. Zacks Investment Research raised Kroger from a hold rating to a buy rating and set a $35.00 target price on the stock in a research report on Tuesday, August 21st. Credit Suisse Group set a $33.00 target price on Kroger and gave the stock a hold rating in a research report on Thursday, September 13th. Wells Fargo & Co raised their target price on Kroger from $33.00 to $36.00 and gave the stock an outperform rating in a research report on Monday, September 10th. Finally, Telsey Advisory Group reissued a market perform rating on shares of Kroger in a research report on Thursday, September 13th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the stock. Kroger presently has a consensus rating of Hold and an average price target of $30.40.
KR stock traded up $0.84 during mid-day trading on Wednesday, reaching $30.17. The company had a trading volume of 11,506,457 shares, compared to its average volume of 9,137,981. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.73 and a quick ratio of 0.26. The firm has a market capitalization of $24.06 billion, a P/E ratio of 13.65, a P/E/G ratio of 2.34 and a beta of 0.77. Kroger has a fifty-two week low of $21.15 and a fifty-two week high of $32.74.
Kroger (NYSE:KR) last posted its quarterly earnings results on Thursday, September 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The company had revenue of $27.87 billion for the quarter, compared to analyst estimates of $27.95 billion. Kroger had a return on equity of 28.05% and a net margin of 3.05%. Kroger’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 EPS. On average, analysts expect that Kroger will post 2.13 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Thursday, November 15th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.56 dividend on an annualized basis and a yield of 1.86%. Kroger’s dividend payout ratio is presently 27.45%.
In related news, SVP Calvin J. Kaufman sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 11th. The stock was sold at an average price of $27.47, for a total transaction of $288,435.00. Following the transaction, the senior vice president now owns 124,688 shares in the company, valued at approximately $3,425,179.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Clyde R. Moore sold 13,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $29.06, for a total value of $377,780.00. The disclosure for this sale can be found here. Insiders have sold a total of 49,575 shares of company stock worth $1,422,559 in the last 90 days. 1.07% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its stake in shares of Kroger by 1.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 585,726 shares of the company’s stock valued at $16,663,000 after purchasing an additional 8,931 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Kroger by 5.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 153,774 shares of the company’s stock valued at $4,375,000 after purchasing an additional 7,257 shares during the last quarter. Goodman Financial Corp grew its stake in shares of Kroger by 8.0% in the 2nd quarter. Goodman Financial Corp now owns 251,903 shares of the company’s stock valued at $7,167,000 after purchasing an additional 18,724 shares during the last quarter. Savant Capital LLC purchased a new position in shares of Kroger in the 2nd quarter valued at approximately $250,000. Finally, Kiley Juergens Wealth Management LLC purchased a new position in shares of Kroger in the 2nd quarter valued at approximately $173,000. Hedge funds and other institutional investors own 79.38% 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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