Kroger’s (KR) Equal Weight Rating Reiterated at Barclays PLC
Kroger Co. (NYSE:KR)‘s stock had its “equal weight” rating restated by Barclays PLC in a research note issued on Tuesday. They currently have a $33.00 target price on the stock. Barclays PLC’s price target points to a potential downside of 1.96% from the stock’s previous close.
A number of other brokerages also recently issued reports on KR. BMO Capital Markets downgraded shares of Kroger from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $34.01 to $35.00 in a research report on Tuesday, August 2nd. Guggenheim restated a “buy” rating and issued a $40.00 price target on shares of Kroger in a research report on Monday. RBC Capital Markets restated a “sector perform” rating and issued a $37.00 price target on shares of Kroger in a research report on Monday. Vetr downgraded shares of Kroger from a “hold” rating to a “sell” rating and set a $32.15 price target on the stock. in a research report on Monday, November 14th. Finally, Wells Fargo & Co. restated an “outperform” rating on shares of Kroger in a research report on Thursday, August 4th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $38.28.
Shares of Kroger (NYSE:KR) traded down 1.52% during midday trading on Tuesday, hitting $33.15. 5,525,281 shares of the stock traded hands. Kroger has a 52 week low of $28.71 and a 52 week high of $42.75. The stock has a market capitalization of $31.30 billion, a P/E ratio of 15.72 and a beta of 0.74. The firm has a 50-day moving average price of $31.92 and a 200-day moving average price of $33.33.
Kroger (NYSE:KR) last posted its earnings results on Friday, September 9th. The company reported $0.47 earnings per share for the quarter, topping 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 period in the previous year, the firm earned $0.44 earnings per share. The company’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts predict that Kroger will post $2.13 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.48 annualized dividend and a yield of 1.43%. Kroger’s payout ratio is currently 22.86%.
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In other Kroger news, insider Kevin M. Dougherty sold 31,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $31.05, for a total transaction of $962,550.00. Following the sale, the insider now directly owns 130,857 shares of the company’s stock, valued at $4,063,109.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.85% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in KR. Physicians Financial Services Inc. increased its stake in Kroger by 7,500.0% in the second quarter. Physicians Financial Services Inc. now owns 3,040 shares of the company’s stock valued at $112,000 after buying an additional 3,000 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Kroger by 32.7% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,246 shares of the company’s stock valued at $119,000 after buying an additional 800 shares during the period. Baldwin Brothers Inc. MA increased its stake in Kroger by 212.4% in the third quarter. Baldwin Brothers Inc. MA now owns 4,052 shares of the company’s stock valued at $120,000 after buying an additional 2,755 shares during the period. Advisory Services Network LLC increased its stake in Kroger by 289.9% in the third quarter. Advisory Services Network LLC now owns 4,238 shares of the company’s stock valued at $126,000 after buying an additional 3,151 shares during the period. Finally, Kernodle & Katon Asset Management Group LLC acquired a new stake in Kroger during the third quarter valued at approximately $135,000. 75.51% of the stock is currently owned by institutional investors and hedge funds.
Kroger Company Profile
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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