Guggenheim Reiterates Buy Rating for Kroger Co. (KR)
Kroger Co. (NYSE:KR)‘s stock had its “buy” rating reaffirmed by equities research analysts at Guggenheim in a research report issued to clients and investors on Monday. They presently have a $40.00 target price on the stock. Guggenheim’s price objective would suggest a potential upside of 20.85% from the stock’s previous close.
A number of other equities analysts have also commented on the company. Vetr raised Kroger from a “sell” rating to a “hold” rating and set a $32.92 price objective on the stock in a research note on Monday, November 21st. Zacks Investment Research raised Kroger from a “strong sell” rating to a “hold” rating in a research note on Friday, November 4th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Kroger in a research note on Thursday, November 3rd. Jefferies Group reaffirmed a “hold” rating and issued a $33.00 price objective on shares of Kroger in a research note on Wednesday, October 26th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of Kroger in a research note on Wednesday, October 12th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Kroger presently has a consensus rating of “Hold” and a consensus price target of $38.28.
Kroger (NYSE:KR) opened at 33.10 on Monday. The firm’s 50-day moving average price is $32.01 and its 200-day moving average price is $33.32. Kroger has a 52-week low of $28.71 and a 52-week high of $42.75. The firm has a market cap of $31.25 billion, a P/E ratio of 15.69 and a beta of 0.74.
Kroger (NYSE:KR) last posted its quarterly earnings data on Friday, September 9th. The company reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.02. The company had revenue of $26.60 billion for the quarter. Kroger had a return on equity of 32.52% and a net margin of 1.82%. Kroger’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 earnings per share. Equities research analysts expect that Kroger will post $2.13 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.48 dividend on an annualized basis and a yield of 1.45%. Kroger’s dividend payout ratio (DPR) is 22.86%.
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In related news, insider Kevin M. Dougherty sold 31,000 shares of the stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $31.05, for a total transaction of $962,550.00. Following the sale, the insider now owns 130,857 shares of the company’s stock, valued at approximately $4,063,109.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.85% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. North Star Investment Management Corp. boosted its stake in shares of Kroger by 0.3% in the second quarter. North Star Investment Management Corp. now owns 10,988 shares of the company’s stock worth $404,000 after buying an additional 29 shares during the period. Silvercrest Asset Management Group LLC boosted its stake in shares of Kroger by 0.5% in the second quarter. Silvercrest Asset Management Group LLC now owns 13,369 shares of the company’s stock worth $492,000 after buying an additional 66 shares during the period. Pegasus Partners Ltd. boosted its stake in shares of Kroger by 0.5% in the third quarter. Pegasus Partners Ltd. now owns 17,904 shares of the company’s stock worth $531,000 after buying an additional 91 shares during the period. Integrated Investment Consultants LLC boosted its stake in shares of Kroger by 2.8% in the second quarter. Integrated Investment Consultants LLC now owns 3,722 shares of the company’s stock worth $137,000 after buying an additional 100 shares during the period. Finally, Capital Investment Advisors LLC boosted its stake in shares of Kroger by 1.2% in the second quarter. Capital Investment Advisors LLC now owns 8,305 shares of the company’s stock worth $306,000 after buying an additional 100 shares during the period. 75.51% of the stock is currently owned by institutional investors and hedge funds.
Kroger Company Profile
The Kroger Co (Kroger) operates retail food and drug stores, multi-department stores, jewelry stores and convenience stores across the United States. The Company also manufactures and processes food for sale in its supermarkets. It operates through retail operations segment. The Company operates, either directly or through its subsidiaries, approximately 2,778 retail food stores under a range of local banner names, approximately 1,387 of which have fuel centers.
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