Kroger Co. (KR) Stock Rating Reaffirmed by Barclays PLC
Kroger Co. (NYSE:KR)‘s stock had its “equal weight” rating reaffirmed by equities researchers at Barclays PLC in a research report issued on Tuesday. They currently have a $33.00 price target on the stock. Barclays PLC’s price target would indicate a potential upside of 2.17% from the company’s previous close.
A number of other equities research analysts have also issued reports on the company. Jefferies Group reduced their target price on Kroger from $39.00 to $37.00 and set a “hold” rating on the stock in a research note on Wednesday, August 31st. Morgan Stanley reaffirmed an “overweight” rating and issued a $40.00 target price on shares of Kroger in a research note on Wednesday, October 12th. Vetr lowered Kroger from a “hold” rating to a “sell” rating and set a $32.15 target price on the stock. in a research note on Monday, November 14th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $39.00 target price on shares of Kroger in a research note on Thursday, November 3rd. Finally, Wells Fargo & Co. reaffirmed an “outperform” rating on shares of Kroger in a research note on Thursday, August 4th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $38.25.
Shares of Kroger (NYSE:KR) opened at 32.30 on Tuesday. Kroger has a 52 week low of $28.71 and a 52 week high of $42.75. The firm has a market capitalization of $30.50 billion, a PE ratio of 15.32 and a beta of 0.74. The stock has a 50 day moving average price of $32.10 and a 200-day moving average price of $33.31.
Kroger (NYSE:KR) last released its quarterly earnings results on Friday, September 9th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. The business 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%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. Equities analysts anticipate that Kroger will post $2.13 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.48 annualized dividend and a dividend yield of 1.49%. Kroger’s payout ratio is 22.86%.
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In other Kroger news, insider Kevin M. Dougherty sold 31,000 shares of the firm’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $31.05, for a total value of $962,550.00. Following the transaction, the insider now owns 130,857 shares of the company’s stock, valued at $4,063,109.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.85% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Bristol Gate Capital Partners Inc. boosted its position in shares of Kroger by 10.1% in the second quarter. Bristol Gate Capital Partners Inc. now owns 741,903 shares of the company’s stock worth $27,295,000 after buying an additional 68,144 shares in the last quarter. BB&T Corp boosted its position in shares of Kroger by 196.4% in the second quarter. BB&T Corp now owns 287,193 shares of the company’s stock worth $10,566,000 after buying an additional 190,292 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Kroger by 84.9% in the third quarter. Oregon Public Employees Retirement Fund now owns 410,306 shares of the company’s stock worth $12,178,000 after buying an additional 188,356 shares in the last quarter. Community Trust & Investment Co. boosted its position in shares of Kroger by 42.5% in the third quarter. Community Trust & Investment Co. now owns 402,614 shares of the company’s stock worth $11,949,000 after buying an additional 119,991 shares in the last quarter. Finally, WestEnd Advisors LLC acquired a new position in shares of Kroger during the second quarter worth about $95,812,000. 75.51% of the stock is currently owned by hedge funds and other institutional investors.
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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