Citigroup Inc. Analysts Give Kroger Co. (KR) a $39.00 Price Target
Several other analysts have also issued reports on the company. Oppenheimer Holdings Inc. reiterated an outperform rating and set a $40.00 price objective on shares of Kroger in a report on Wednesday, October 5th. Zacks Investment Research downgraded shares of Kroger from a hold rating to a sell rating in a research report on Monday, October 3rd. Jefferies Group set a $32.00 target price on shares of Kroger and gave the stock a hold rating in a research report on Saturday, October 1st. Barclays PLC began coverage on shares of Kroger in a research report on Friday, September 23rd. They set an equal weight rating and a $33.00 target price on the stock. Finally, RBC Capital Markets reissued a sector perform rating and set a $37.00 target price on shares of Kroger in a research report on Friday, September 16th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Kroger currently has a consensus rating of Hold and a consensus target price of $38.93.
Shares of Kroger (NYSE:KR) opened at 30.11 on Friday. The stock has a market cap of $28.43 billion, a P/E ratio of 14.28 and a beta of 0.70. The stock has a 50 day moving average price of $30.88 and a 200-day moving average price of $34.45. Kroger has a 12 month low of $28.71 and a 12 month high of $42.75.
Kroger (NYSE:KR) last announced its quarterly earnings data on Friday, September 9th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. Kroger had a return on equity of 32.52% and a net margin of 1.82%. The business earned $26.60 billion during the quarter. During the same quarter in the prior year, the business posted $0.44 earnings per share. Kroger’s revenue was up 4.0% on a year-over-year basis. On average, analysts forecast that Kroger will post $2.14 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Thursday, November 10th. Kroger’s dividend payout ratio is presently 22.86%.
In other Kroger news, insider Kevin M. Dougherty sold 31,000 shares of Kroger stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $31.05, for a total transaction of $962,550.00. Following the completion of the sale, the insider now owns 130,857 shares of the company’s stock, valued at approximately $4,063,109.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.85% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in KR. Bank of Montreal Can purchased a new position in shares of Kroger during the second quarter valued at about $235,225,000. Capital Research Global Investors raised 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 valued at $2,387,262,000 after buying an additional 5,748,043 shares during the period. Nordea Investment Management AB raised its position in shares of Kroger by 365.3% in the second quarter. Nordea Investment Management AB now owns 6,121,963 shares of the company’s stock valued at $225,227,000 after buying an additional 4,806,246 shares during the period. Janus Capital Management LLC raised 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 valued at $1,297,932,000 after buying an additional 4,550,220 shares during the period. Finally, WestEnd Advisors LLC purchased a new position in shares of Kroger during the second quarter valued at about $95,812,000. 80.16% of the stock is 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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