Kroger (NYSE:KR) received a $28.00 target price from investment analysts at Bank of America in a note issued to investors on Friday, TipRanks reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective suggests a potential upside of 6.75% from the company’s current price.
Several other brokerages have also recently weighed in on KR. ValuEngine upgraded Kroger from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 8th. Morgan Stanley set a $26.00 price target on Kroger and gave the company a “hold” rating in a research report on Friday. BMO Capital Markets reiterated a “market perform” rating and set a $26.00 price target (up from $24.00) on shares of Kroger in a research report on Wednesday, September 4th. Pivotal Research reiterated a “buy” rating and set a $30.00 price target (up from $26.00) on shares of Kroger in a research report on Wednesday. Finally, Zacks Investment Research upgraded Kroger from a “sell” rating to a “hold” rating and set a $26.00 price target on the stock in a research report on Friday, May 31st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. Kroger presently has an average rating of “Hold” and a consensus target price of $28.06.
Shares of KR traded up $0.64 during midday trading on Friday, hitting $26.23. 10,364,230 shares of the company traded hands, compared to its average volume of 9,229,424. The stock has a 50-day moving average of $23.17 and a 200-day moving average of $23.96. Kroger has a one year low of $20.70 and a one year high of $31.98. The firm has a market cap of $20.44 billion, a P/E ratio of 12.43, a PEG ratio of 1.80 and a beta of 0.56. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.76 and a quick ratio of 0.25.
Kroger (NYSE:KR) last announced its quarterly earnings results on Thursday, September 12th. The company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.03. Kroger had a return on equity of 21.17% and a net margin of 1.36%. The firm had revenue of $28.17 billion for the quarter, compared to analysts’ expectations of $28.34 billion. During the same period in the prior year, the business posted $0.41 earnings per share. The company’s revenue was up .5% on a year-over-year basis. Sell-side analysts forecast that Kroger will post 2.19 EPS for the current fiscal year.
In related news, insider Stephen M. Mckinney sold 15,600 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $22.05, for a total value of $343,980.00. Following the transaction, the insider now directly owns 168,070 shares in the company, valued at $3,705,943.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ronald Sargent acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was bought at an average price of $21.49 per share, for a total transaction of $107,450.00. Following the completion of the transaction, the director now owns 94,660 shares of the company’s stock, valued at approximately $2,034,243.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 43,600 shares of company stock worth $955,450. 1.34% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Capital Investment Advisory Services LLC boosted its stake in Kroger by 57.2% in the second quarter. Capital Investment Advisory Services LLC now owns 1,787 shares of the company’s stock worth $37,000 after buying an additional 650 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Kroger during the second quarter valued at approximately $497,000. Zions Bancorporation N.A. purchased a new stake in shares of Kroger during the first quarter valued at approximately $110,000. Norinchukin Bank The boosted its stake in shares of Kroger by 3.6% during the first quarter. Norinchukin Bank The now owns 151,407 shares of the company’s stock valued at $3,725,000 after purchasing an additional 5,221 shares during the period. Finally, 9258 Wealth Management LLC boosted its stake in shares of Kroger by 8.0% during the first quarter. 9258 Wealth Management LLC now owns 20,717 shares of the company’s stock valued at $510,000 after purchasing an additional 1,539 shares during the period. Institutional investors own 80.64% of the company’s stock.
Kroger Company Profile
The Kroger Co operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. 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.
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