Kroger (KR) PT Raised to $35.00

Kroger (NYSE:KR) had its target price hoisted by Jefferies Financial Group from $33.00 to $35.00 in a research report report published on Wednesday. Jefferies Financial Group currently has a buy rating on the stock. Jefferies Financial Group also issued estimates for Kroger’s Q4 2019 earnings at $0.51 EPS.

A number of other research analysts have also weighed in on KR. UBS Group raised their target price on shares of Kroger from $29.00 to $31.00 and gave the company a neutral rating in a report on Wednesday. Telsey Advisory Group lifted their price objective on shares of Kroger from $29.00 to $31.00 and gave the stock a market perform rating in a research note on Wednesday. Zacks Investment Research raised shares of Kroger from a hold rating to a buy rating and set a $31.00 price objective for the company in a research note on Monday, July 16th. Northcoast Research reaffirmed a buy rating and set a $36.00 price objective on shares of Kroger in a research note on Monday, July 23rd. Finally, Citigroup started coverage on shares of Kroger in a research note on Friday, July 6th. They set a buy rating for the company. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company. Kroger has a consensus rating of Hold and an average target price of $30.40.

Shares of KR stock traded up $0.84 on Wednesday, reaching $30.17. The company’s stock had a trading volume of 11,506,457 shares, compared to its average volume of 9,137,981. Kroger has a 1 year low of $21.15 and a 1 year high of $32.74. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.26 and a current ratio of 0.73. The firm has a market cap of $24.06 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 2.34 and a beta of 0.77.

Kroger (NYSE:KR) last posted its earnings results on Thursday, September 13th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. Kroger had a net margin of 3.05% and a return on equity of 28.05%. The firm had revenue of $27.87 billion during the quarter, compared to analyst estimates of $27.95 billion. During the same period last year, the firm posted $0.39 earnings per share. Kroger’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities analysts predict that Kroger will post 2.13 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Thursday, November 15th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Wednesday, November 14th. Kroger’s dividend payout ratio is currently 27.45%.

In other news, Director Clyde R. Moore sold 13,000 shares of the business’s stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $29.06, for a total transaction of $377,780.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Erin S. Sharp sold 25,314 shares of the business’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $29.00, for a total transaction of $734,106.00. The disclosure for this sale can be found here. Insiders have sold 49,575 shares of company stock valued at $1,422,559 over the last three months. Insiders own 1.07% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Virginia Retirement Systems ET AL raised its holdings in shares of Kroger by 23.8% in the third quarter. Virginia Retirement Systems ET AL now owns 147,600 shares of the company’s stock valued at $4,297,000 after acquiring an additional 28,400 shares in the last quarter. WINTON GROUP Ltd raised its holdings in Kroger by 70.0% in the third quarter. WINTON GROUP Ltd now owns 332,752 shares of the company’s stock worth $9,686,000 after purchasing an additional 137,028 shares in the last quarter. Bank of The West raised its holdings in Kroger by 9.6% in the third quarter. Bank of The West now owns 72,363 shares of the company’s stock worth $2,106,000 after purchasing an additional 6,320 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Kroger by 112.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 176,302 shares of the company’s stock worth $5,132,000 after purchasing an additional 93,357 shares in the last quarter. Finally, Advisory Services Network LLC raised its holdings in Kroger by 294.1% in the third quarter. Advisory Services Network LLC now owns 30,115 shares of the company’s stock worth $877,000 after purchasing an additional 22,473 shares in the last quarter. Hedge funds and other institutional investors own 79.38% of the company’s stock.

About Kroger

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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Analyst Recommendations for Kroger (NYSE:KR)

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