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 research note published on Wednesday. The brokerage currently has a $39.00 target price on the stock, down from their previous target price of $40.00.
A number of other equities analysts have also weighed in on KR. BMO Capital Markets set a $35.00 price objective on shares of Kroger and gave the company a hold rating in a research report on Sunday, September 11th. Telsey Advisory Group lowered their price objective on shares of Kroger from $46.00 to $40.00 and set an outperform rating on the stock in a research report on Monday, September 12th. Citigroup Inc. lowered their price objective on shares of Kroger from $43.00 to $39.00 and set a buy rating on the stock in a research report on Tuesday, September 13th. Jefferies Group reiterated a hold rating on shares of Kroger in a research report on Friday, May 20th. Finally, Wolfe Research lowered shares of Kroger from an outperform rating to a market perform rating in a research report on Wednesday, June 15th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $39.38.
Shares of Kroger (NYSE:KR) opened at 30.79 on Wednesday. The stock has a market cap of $29.07 billion, a price-to-earnings ratio of 14.60 and a beta of 0.72. The company has a 50 day moving average of $32.16 and a 200-day moving average of $35.36. Kroger has a one year low of $30.45 and a one year high of $42.75.
Kroger (NYSE:KR) last posted its quarterly earnings data on Friday, September 9th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the business earned $0.44 earnings per share. The business’s quarterly revenue was up 4.0% on a year-over-year basis. On average, 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. Shareholders of record on Tuesday, November 15th will be issued a $0.12 dividend. 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 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 completion of the transaction, the vice president now owns 82,349 shares in the company, valued at approximately $3,116,909.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kevin M. Dougherty sold 31,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $31.05, for a total value of $962,550.00. Following the completion of the transaction, the insider now owns 130,857 shares of the company’s stock, valued at approximately $4,063,109.85. The disclosure for this sale can be found here. 0.85% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Exxonmobil Investment Management Inc. TX raised its position in shares of Kroger by 8.8% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 237,321 shares of the company’s stock worth $9,078,000 after buying an additional 19,134 shares during the last quarter. Capstone Asset Management Co. raised its position in shares of Kroger by 233.3% in the first quarter. Capstone Asset Management Co. now owns 282,713 shares of the company’s stock worth $10,814,000 after buying an additional 197,900 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Kroger by 13.8% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 205,681 shares of the company’s stock worth $7,867,000 after buying an additional 25,004 shares during the last quarter. Central Bank & Trust Co. raised its position in shares of Kroger by 16.9% in the first quarter. Central Bank & Trust Co. now owns 81,435 shares of the company’s stock worth $3,115,000 after buying an additional 11,752 shares during the last quarter. Finally, CENTRAL TRUST Co acquired a new position in shares of Kroger during the first quarter worth about $1,209,000. Hedge funds and other institutional investors own 79.80% of the company’s stock.
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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