Kroger Company (The) (KR) Stock Rating Upgraded by BidaskClub
Kroger Company (The) (NYSE:KR) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.
Other equities research analysts have also issued reports about the company. Vetr lowered Kroger Company (The) from a “strong-buy” rating to a “buy” rating and set a $26.26 price target on the stock. in a research report on Tuesday, July 25th. Royal Bank Of Canada set a $34.00 price target on Kroger Company (The) and gave the company a “buy” rating in a research report on Tuesday, July 18th. Wells Fargo & Company restated an “outperform” rating and set a $28.00 price target on shares of Kroger Company (The) in a research report on Sunday, July 2nd. Jefferies Group LLC restated a “hold” rating and set a $25.00 price target (down from $26.00) on shares of Kroger Company (The) in a research report on Friday, June 23rd. Finally, Deutsche Bank AG set a $26.00 price target on Kroger Company (The) and gave the company a “buy” rating in a research report on Monday, June 19th. Eighteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $30.51.
Kroger Company (NYSE:KR) traded down 0.559% during trading on Wednesday, hitting $23.995. The company’s stock had a trading volume of 367,446 shares. The firm has a 50 day moving average of $23.22 and a 200 day moving average of $28.79. The firm has a market cap of $21.53 billion, a P/E ratio of 14.446 and a beta of 0.76. Kroger Company has a 12 month low of $20.46 and a 12 month high of $36.44.
Kroger Company (The) (NYSE:KR) last posted its earnings results on Thursday, June 15th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.58. Kroger Company (The) had a return on equity of 29.10% and a net margin of 1.35%. The firm had revenue of $36.29 billion for the quarter, compared to analysts’ expectations of $35.69 billion. During the same period in the previous year, the firm earned $0.70 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts predict that Kroger Company will post $1.98 earnings per share for the current year.
Kroger Company (The) declared that its Board of Directors has initiated a share repurchase plan on Thursday, June 22nd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other Kroger Company (The) news, insider J Michael Schlotman purchased 2,000 shares of the stock in a transaction dated Monday, June 26th. The shares were purchased at an average cost of $22.73 per share, with a total value of $45,460.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Susan M. Phillips sold 6,200 shares of the company’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $21.17, for a total value of $131,254.00. Following the transaction, the director now directly owns 124,105 shares in the company, valued at $2,627,302.85. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. boosted its stake in Kroger Company (The) by 30.4% in the fourth quarter. Macquarie Group Ltd. now owns 234,119 shares of the company’s stock worth $8,079,000 after buying an additional 54,565 shares during the period. Gulf International Bank UK Ltd boosted its stake in Kroger Company (The) by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 281,470 shares of the company’s stock worth $8,300,000 after buying an additional 3,600 shares during the period. National Pension Service boosted its stake in Kroger Company (The) by 7.6% in the first quarter. National Pension Service now owns 729,951 shares of the company’s stock worth $21,315,000 after buying an additional 51,711 shares during the period. Capstone Asset Management Co. boosted its stake in Kroger Company (The) by 0.8% in the first quarter. Capstone Asset Management Co. now owns 289,081 shares of the company’s stock worth $8,525,000 after buying an additional 2,210 shares during the period. Finally, Verde Servicos Internacionais S.A. purchased a new stake in Kroger Company (The) during the first quarter worth approximately $607,000. Institutional investors own 77.44% of the company’s stock.
About Kroger Company (The)
The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.
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