UBS Group Raises Kroger (NYSE:KR) Price Target to $36.00
Kroger (NYSE:KR) had its price target hoisted by UBS Group from $35.00 to $36.00 in a research note issued to investors on Monday, Benzinga reports. UBS Group currently has a neutral rating on the stock.
KR has been the subject of several other reports. Goldman Sachs Group started coverage on shares of Kroger in a research report on Tuesday, July 21st. They issued a neutral rating and a $36.00 target price for the company. BofA Securities cut shares of Kroger from a buy rating to a neutral rating and set a $40.00 target price for the company. in a research report on Monday. Morgan Stanley raised their target price on shares of Kroger from $34.00 to $35.00 and gave the stock an equal weight rating in a research report on Thursday, June 25th. ValuEngine raised shares of Kroger from a strong sell rating to a sell rating in a research report on Monday, August 3rd. Finally, Wells Fargo & Company raised their target price on shares of Kroger from $37.00 to $38.00 and gave the stock an overweight rating in a research report on Friday, May 22nd. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $35.33.
Shares of KR opened at $32.02 on Monday. The stock has a market capitalization of $24.91 billion, a P/E ratio of 9.79, a PEG ratio of 1.92 and a beta of 0.31. The company has a quick ratio of 0.41, a current ratio of 0.84 and a debt-to-equity ratio of 1.26. The firm has a fifty day simple moving average of $35.23 and a two-hundred day simple moving average of $33.03. Kroger has a twelve month low of $23.71 and a twelve month high of $37.22.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were paid a dividend of $0.72 per share. This is a positive change from Kroger’s previous quarterly dividend of $0.16. This represents a $2.88 dividend on an annualized basis and a yield of 8.99%. The ex-dividend date of this dividend was Thursday, August 13th. Kroger’s dividend payout ratio (DPR) is currently 32.73%.
In other news, CEO W Rodney Mcmullen sold 85,381 shares of Kroger stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $31.97, for a total value of $2,729,630.57. Following the completion of the sale, the chief executive officer now directly owns 3,097,481 shares in the company, valued at $99,026,467.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Todd A. Foley sold 11,000 shares of Kroger stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $33.33, for a total transaction of $366,630.00. Following the completion of the sale, the vice president now owns 42,598 shares of the company’s stock, valued at $1,419,791.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 327,517 shares of company stock valued at $10,981,405. 1.36% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Two Sigma Advisers LP grew its stake in shares of Kroger by 1,791.5% in the second quarter. Two Sigma Advisers LP now owns 221,300 shares of the company’s stock worth $7,491,000 after acquiring an additional 209,600 shares during the period. Demars Financial Group LLC bought a new stake in shares of Kroger in the second quarter worth approximately $237,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Kroger by 26.4% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,344,861 shares of the company’s stock worth $45,522,000 after acquiring an additional 281,058 shares during the period. Capital Advisors Inc. OK grew its stake in shares of Kroger by 9.9% in the second quarter. Capital Advisors Inc. OK now owns 777,772 shares of the company’s stock worth $27,245,000 after acquiring an additional 70,158 shares during the period. Finally, Neuberger Berman Group LLC grew its stake in shares of Kroger by 135.8% in the second quarter. Neuberger Berman Group LLC now owns 268,496 shares of the company’s stock worth $9,072,000 after acquiring an additional 154,651 shares during the period. Hedge funds and other institutional investors own 81.69% of the company’s stock.
Kroger Company Profile
The Kroger Co operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.
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