Kroger Co. (KR) Receives Buy Rating from Argus
Kroger Co. (NYSE:KR)‘s stock had its “buy” rating reaffirmed by Argus in a research report issued on Thursday. They currently have a $43.00 price target on the stock. Argus’ price objective points to a potential upside of 33.13% from the stock’s previous close.
Several other research firms have also recently weighed in on KR. Guggenheim reissued a “buy” rating and set a $40.00 price target on shares of Kroger in a report on Monday. RBC Capital Markets reissued a “sector perform” rating and set a $37.00 price target on shares of Kroger in a report on Monday. Barclays PLC reissued an “equal weight” rating and set a $33.00 price target on shares of Kroger in a report on Tuesday. Vetr cut Kroger from a “hold” rating to a “sell” rating and set a $32.15 price target on the stock. in a report on Monday, November 14th. Finally, Wells Fargo & Co. reissued an “outperform” rating on shares of Kroger in a report on Thursday, August 4th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the stock. Kroger has a consensus rating of “Hold” and an average target price of $38.21.
Shares of Kroger (NYSE:KR) opened at 32.30 on Thursday. Kroger has a 1-year low of $28.71 and a 1-year high of $42.75. The company has a market cap of $30.50 billion, a price-to-earnings ratio of 15.32 and a beta of 0.74. The company’s 50-day moving average price is $31.92 and its 200 day moving average price is $33.33.
Kroger (NYSE:KR) last released its quarterly earnings data on Friday, September 9th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.02. The business had revenue of $26.60 billion for the quarter. Kroger had a return on equity of 32.52% and a net margin of 1.82%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. On average, analysts predict that Kroger will post $2.13 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Thursday, November 10th. Kroger’s payout ratio is currently 22.86%.
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In other news, insider Kevin M. Dougherty sold 31,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 130,857 shares of the company’s stock, valued at $4,063,109.85. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.85% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of KR. First Republic Investment Management Inc. raised its position in shares of Kroger by 26.4% in the first quarter. First Republic Investment Management Inc. now owns 52,753 shares of the company’s stock worth $2,017,000 after buying an additional 11,014 shares during the period. Fulton Bank N.A. raised its position in shares of Kroger by 3.8% in the second quarter. Fulton Bank N.A. now owns 28,800 shares of the company’s stock worth $1,059,000 after buying an additional 1,043 shares during the period. First Financial Bank N.A. Trust Division raised its position in shares of Kroger by 0.9% in the second quarter. First Financial Bank N.A. Trust Division now owns 39,594 shares of the company’s stock worth $1,457,000 after buying an additional 340 shares during the period. Integrated Investment Consultants LLC raised its position in shares of Kroger by 2.8% in the second quarter. Integrated Investment Consultants LLC now owns 3,722 shares of the company’s stock worth $137,000 after buying an additional 100 shares during the period. Finally, Patten & Patten Inc. TN raised its position in shares of Kroger by 41.0% in the second quarter. Patten & Patten Inc. TN now owns 40,281 shares of the company’s stock worth $1,482,000 after buying an additional 11,706 shares during the period. 75.51% of the stock is currently owned by institutional investors and hedge funds.
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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