Telsey Advisory Group Boosts Kroger (KR) Price Target to $31.00

Kroger (NYSE:KR) had its price objective increased by Telsey Advisory Group from $29.00 to $31.00 in a report issued on Wednesday, Marketbeat.com reports. The firm currently has a market perform rating on the stock.

Other research analysts have also issued research reports about the stock. Credit Suisse Group set a $32.00 price target on shares of Kroger and gave the company a buy rating in a research note on Friday, October 5th. Northcoast Research reiterated a buy rating and issued a $36.00 price target on shares of Kroger in a research note on Monday, July 23rd. Zacks Investment Research upgraded shares of Kroger from a hold rating to a buy rating and set a $31.00 price target on the stock in a research note on Monday, July 16th. Citigroup began coverage on shares of Kroger in a research report on Friday, July 6th. They set a buy rating on the stock. Finally, Stephens set a $29.00 target price on shares of Kroger and gave the stock a hold rating in a research report on Friday, September 7th. 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 company’s stock. Kroger has an average rating of Hold and a consensus target price of $30.40.

KR traded up $0.84 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. Kroger has a fifty-two week low of $21.15 and a fifty-two week high of $32.74. The firm has a market cap of $24.06 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 2.34 and a beta of 0.77. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.26 and a current ratio of 0.73.

Kroger (NYSE:KR) last announced its quarterly earnings results on Thursday, September 13th. The company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.03. Kroger had a net margin of 3.05% and a return on equity of 28.05%. The business had revenue of $27.87 billion for the quarter, compared to analyst estimates of $27.95 billion. During the same quarter in the prior year, the business earned $0.39 EPS. Kroger’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities analysts forecast that Kroger will post 2.13 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Thursday, November 15th will be given 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 dividend yield of 1.86%. Kroger’s payout ratio is presently 27.45%.

In other news, SVP Calvin J. Kaufman sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, October 11th. The shares were sold at an average price of $27.47, for a total transaction of $288,435.00. Following the completion of the sale, the senior vice president now owns 124,688 shares of the company’s stock, valued at approximately $3,425,179.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Erin S. Sharp sold 25,314 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The stock was 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. In the last 90 days, insiders have sold 49,575 shares of company stock worth $1,422,559. Company insiders own 1.07% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Landaas & Co. WI ADV bought a new stake in shares of Kroger during the 2nd quarter worth approximately $100,000. CSat Investment Advisory L.P. bought a new stake in shares of Kroger during the 2nd quarter worth approximately $109,000. Bridgeworth LLC bought a new stake in shares of Kroger during the 2nd quarter worth approximately $109,000. Zions Bancorporation bought a new stake in shares of Kroger during the 3rd quarter worth approximately $128,000. Finally, Creative Financial Designs Inc. ADV lifted its holdings in shares of Kroger by 100.2% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 5,170 shares of the company’s stock worth $147,000 after acquiring an additional 2,587 shares during the period. 79.38% of the stock is owned by institutional investors.

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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