Oppenheimer Holdings Inc. Reiterates “Outperform” Rating for Kroger Co. (KR)
Kroger Co. (NYSE:KR)‘s stock had its “outperform” rating reiterated by equities researchers at Oppenheimer Holdings Inc. in a note issued to investors on Wednesday. They presently have a $40.00 price target on the stock. Oppenheimer Holdings Inc.’s target price would indicate a potential upside of 36.19% from the company’s current price.
Several other research analysts have also issued reports on KR. Royal Bank Of Canada reissued a “sector perform” rating and issued a $39.00 price target on shares of Kroger in a research report on Monday, June 13th. Vetr raised shares of Kroger from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 19th. Zacks Investment Research lowered shares of Kroger from a “buy” rating to a “hold” rating in a research report on Tuesday, June 7th. Goldman Sachs Group Inc. raised shares of Kroger from a “neutral” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Tuesday, July 26th. 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 assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Kroger presently has an average rating of “Buy” and an average price target of $38.92.
Shares of Kroger (NYSE:KR) opened at 29.37 on Wednesday. Kroger has a one year low of $28.71 and a one year high of $42.75. The company has a market cap of $27.73 billion, a PE ratio of 13.93 and a beta of 0.70. The company’s 50-day moving average price is $31.16 and its 200 day moving average price is $34.66.
Kroger (NYSE:KR) last announced its quarterly earnings data on Friday, September 9th. The company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. The business earned $26.60 billion during the quarter. Kroger had a net margin of 1.82% and a return on equity of 32.52%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 EPS. Equities analysts forecast that Kroger will post $2.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Thursday, November 10th. Kroger’s dividend payout ratio (DPR) is presently 22.86%.
In other news, insider Kevin M. Dougherty sold 31,000 shares of Kroger 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 transaction, the insider now owns 130,857 shares of the company’s stock, valued at approximately $4,063,109.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.85% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in KR. Capital Research Global Investors increased its position in shares of Kroger by 9.7% in the second quarter. Capital Research Global Investors now owns 64,888,884 shares of the company’s stock worth $2,387,262,000 after buying an additional 5,748,043 shares during the period. Vanguard Group Inc. increased its position in shares of Kroger by 2.2% in the second quarter. Vanguard Group Inc. now owns 58,102,329 shares of the company’s stock worth $2,137,584,000 after buying an additional 1,271,959 shares during the period. State Street Corp increased its position in shares of Kroger by 2.5% in the first quarter. State Street Corp now owns 40,607,212 shares of the company’s stock worth $1,553,228,000 after buying an additional 1,002,625 shares during the period. Janus Capital Management LLC increased its position in shares of Kroger by 14.8% in the second quarter. Janus Capital Management LLC now owns 35,280,006 shares of the company’s stock worth $1,297,932,000 after buying an additional 4,550,220 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Kroger by 1.6% in the first quarter. JPMorgan Chase & Co. now owns 20,230,988 shares of the company’s stock worth $773,835,000 after buying an additional 321,824 shares during the period. 80.17% of the stock is owned by 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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