Goldman Sachs Group Inc. Reaffirms Buy Rating for Kroger Co. (KR)
Goldman Sachs Group Inc. reissued their buy rating on shares of Kroger Co. (NYSE:KR) in a report issued on Wednesday morning. They currently have a $39.00 target price on the stock, down from their prior target price of $40.00.
Several other equities research analysts have also recently issued reports on the stock. BMO Capital Markets cut shares of Kroger from an outperform rating to a market perform rating and raised their target price for the stock from $34.01 to $35.00 in a report on Tuesday, August 2nd. Royal Bank Of Canada decreased their price target on shares of Kroger from $39.00 to $37.00 and set a sector perform rating on the stock in a research report on Wednesday, September 7th. Zacks Investment Research downgraded shares of Kroger from a hold rating to a sell rating in a research report on Tuesday, August 30th. Citigroup Inc. decreased their price target 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. Finally, Piper Jaffray Cos. reiterated an underweight rating and issued a $29.00 price target on shares of Kroger in a research report on Friday, June 17th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $39.38.
Kroger (NYSE:KR) opened at 30.79 on Wednesday. The stock’s 50 day moving average is $32.16 and its 200-day moving average is $35.36. The stock has a market capitalization of $29.07 billion, a price-to-earnings ratio of 14.60 and a beta of 0.72. Kroger has a 52-week low of $30.45 and a 52-week high of $42.75.
Kroger (NYSE:KR) last posted 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 firm had revenue of $26.60 billion for the quarter. During the same quarter in the previous year, the company earned $0.44 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities research analysts anticipate that Kroger will post $2.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, November 10th. Kroger’s dividend payout ratio is presently 22.86%.
In other news, insider Kevin M. Dougherty sold 31,000 shares of the 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 completion of the sale, the insider now directly owns 130,857 shares in the company, valued at $4,063,109.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Oflen Mary Elizabeth Van sold 12,000 shares of the stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $37.85, for a total transaction of $454,200.00. Following the completion of the sale, the vice president now owns 82,349 shares of the company’s stock, valued at $3,116,909.65. The disclosure for this sale can be found here. Company insiders own 0.85% of the company’s stock.
Large investors have recently modified their holdings of the stock. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Kroger during the second quarter worth approximately $1,417,000. Kentucky Retirement Systems acquired a new stake in shares of Kroger during the second quarter worth approximately $2,984,000. Mason Street Advisors LLC acquired a new stake in shares of Kroger during the second quarter worth approximately $4,726,000. Harbour Capital Advisors LLC acquired a new stake in shares of Kroger during the second quarter worth approximately $266,000. Finally, Tobam boosted its stake in shares of Kroger by 14,055.6% in the second quarter. Tobam now owns 352,757 shares of the company’s stock worth $12,978,000 after buying an additional 350,265 shares during the period. Institutional investors and hedge funds own 79.80% of the company’s stock.
Kroger Company Profile
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.
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