Kroger Co. (KR) Earns Outperform Rating from Wells Fargo & Co.
Kroger Co. (NYSE:KR)‘s stock had its “outperform” rating reaffirmed by analysts at Wells Fargo & Co. in a report issued on Wednesday. They presently have a $37.50 price target on the stock. Wells Fargo & Co.’s price objective points to a potential upside of 13.29% from the stock’s current price.
KR has been the topic of a number of other research reports. Citigroup Inc. dropped their target price on shares of Kroger from $44.00 to $43.00 and set a “buy” rating on the stock in a research report on Monday, August 29th. Deutsche Bank AG dropped their target price on shares of Kroger from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, September 9th. Argus dropped their target price on shares of Kroger from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Monday, September 12th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $39.00 target price (down previously from $40.00) on shares of Kroger in a research report on Wednesday, September 14th. Finally, Vetr lowered shares of Kroger from a “strong-buy” rating to a “buy” rating and set a $33.25 target price on the stock. in a research report on Tuesday, October 11th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the stock. Kroger has a consensus rating of “Hold” and a consensus price target of $38.25.
Shares of Kroger (NYSE:KR) opened at 33.10 on Wednesday. The company has a 50 day moving average of $31.92 and a 200-day moving average of $33.33. Kroger has a 12-month low of $28.71 and a 12-month high of $42.75. The firm has a market cap of $31.25 billion, a PE ratio of 15.69 and a beta of 0.74.
Kroger (NYSE:KR) last released its quarterly earnings results on Friday, September 9th. The company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. Kroger had a net margin of 1.82% and a return on equity of 32.52%. The company had revenue of $26.60 billion for the quarter. During the same period in the prior year, the business earned $0.44 EPS. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. Equities research analysts forecast that Kroger will post $2.13 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be paid 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 payout ratio is 22.86%.
In related news, insider Kevin M. Dougherty sold 31,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $31.05, for a total transaction of $962,550.00. Following the completion of the sale, the insider now directly owns 130,857 shares of the company’s stock, valued at approximately $4,063,109.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.85% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Physicians Financial Services Inc. increased its position in Kroger by 7,500.0% in the second quarter. Physicians Financial Services Inc. now owns 3,040 shares of the company’s stock worth $112,000 after buying an additional 3,000 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in Kroger by 32.7% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,246 shares of the company’s stock worth $119,000 after buying an additional 800 shares during the period. Baldwin Brothers Inc. MA increased its position in Kroger by 212.4% in the third quarter. Baldwin Brothers Inc. MA now owns 4,052 shares of the company’s stock worth $120,000 after buying an additional 2,755 shares during the period. Advisory Services Network LLC increased its position in Kroger by 289.9% in the third quarter. Advisory Services Network LLC now owns 4,238 shares of the company’s stock worth $126,000 after buying an additional 3,151 shares during the period. Finally, Kernodle & Katon Asset Management Group LLC purchased a new position in Kroger during the third quarter worth $135,000. 75.51% of the stock is 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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