Kroger Co. (KR) Stock Price Up 2.3%
Kroger Co. (NYSE:KR) rose 2.3% during mid-day trading on Wednesday . The company traded as high as $33.10 and last traded at $33.00, with a volume of 7,133,327 shares. The stock had previously closed at $32.25.
KR has been the subject of a number of analyst reports. Deutsche Bank AG dropped their price objective on shares of Kroger from $48.00 to $41.00 and set a “buy” rating for the company in a report on Friday, June 17th. Oppenheimer Holdings Inc. reissued a “buy” rating and issued a $42.00 price objective on shares of Kroger in a report on Monday, June 6th. Zacks Investment Research raised shares of Kroger from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Wednesday, May 4th. Citigroup Inc. reissued a “buy” rating and issued a $44.00 price objective on shares of Kroger in a report on Monday, June 20th. Finally, Hilliard Lyons raised shares of Kroger from a “neutral” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Thursday, June 23rd. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $40.85.
The company has a market capitalization of $31.24 billion and a PE ratio of 15.402. The firm has a 50 day moving average of $34.66 and a 200 day moving average of $36.24.
Kroger (NYSE:KR) last released its quarterly earnings results on Thursday, June 16th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $34.61 billion for the quarter. During the same quarter in the previous year, the business earned $0.63 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts anticipate that Kroger Co. will post $2.22 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 15th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.49%. This is an increase from Kroger’s previous quarterly dividend of $0.11. The ex-dividend date is Thursday, August 11th.
In other Kroger news, VP Oflen Mary Elizabeth Van sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $37.85, for a total value of $454,200.00. Following the transaction, the vice president now directly owns 82,349 shares of the company’s stock, valued at approximately $3,116,909.65. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Other institutional investors have made changes to their positions in the company. Bridgewater Associates LP acquired a new position in shares of Kroger during the fourth quarter worth about $1,309,000. American International Group Inc. raised its position in shares of Kroger by 4.5% in the fourth quarter. American International Group Inc. now owns 487,245 shares of the company’s stock worth $20,380,000 after buying an additional 21,185 shares during the last quarter. State of Tennessee Treasury Department raised its position in shares of Kroger by 12.0% in the fourth quarter. State of Tennessee Treasury Department now owns 1,302,477 shares of the company’s stock worth $54,482,000 after buying an additional 139,951 shares during the last quarter. Matarin Capital Management LLC acquired a new position in shares of Kroger during the fourth quarter worth about $4,944,000. Finally, I.G. Investment Management LTD. raised its position in shares of Kroger by 10.3% in the fourth quarter. I.G. Investment Management LTD. now owns 74,334 shares of the company’s stock worth $3,109,000 after buying an additional 6,922 shares during the last quarter.
The Kroger Co (Kroger) operates retail food and drug stores, multi-department stores, jewelry stores, and convenience stores throughout the United States. The Company also manufactures and processes some of the food for sale in its supermarkets. The Company operated, either directly or through its subsidiaries, approximately 2,625 supermarkets and multi-department stores, approximately 1,330 of which had fuel centers.