Kroger (NYSE:KR) Price Target Increased to $62.00 by Analysts at Telsey Advisory Group

Kroger (NYSE:KR) had its target price hoisted by Telsey Advisory Group from $60.00 to $62.00 in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm currently has an “outperform” rating on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 8.96% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Guggenheim raised their target price on Kroger from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Morgan Stanley lowered their target price on shares of Kroger from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Friday, December 1st. JPMorgan Chase & Co. reduced their target price on shares of Kroger from $54.00 to $53.00 and set an “overweight” rating for the company in a research report on Friday, December 1st. Evercore ISI raised their target price on shares of Kroger from $62.00 to $64.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Stephens cut their price target on Kroger from $52.00 to $50.00 and set an “equal weight” rating for the company in a report on Friday, December 1st. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.64.

Kroger Stock Up 0.9 %

Shares of KR opened at $56.90 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.36 and a debt-to-equity ratio of 1.04. The firm has a market cap of $40.93 billion, a P/E ratio of 19.22, a PEG ratio of 2.63 and a beta of 0.46. The stock’s 50 day moving average is $49.53 and its two-hundred day moving average is $46.48. Kroger has a 12 month low of $42.10 and a 12 month high of $57.26.

Kroger (NYSE:KR) last posted its quarterly earnings data on Thursday, March 7th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.21. The business had revenue of $37.06 billion for the quarter, compared to the consensus estimate of $37.07 billion. Kroger had a net margin of 1.44% and a return on equity of 31.44%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm posted $0.99 earnings per share. Analysts predict that Kroger will post 4.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Kroger in the 4th quarter valued at $229,863,000. Alliancebernstein L.P. lifted its position in Kroger by 82.0% during the 4th quarter. Alliancebernstein L.P. now owns 5,667,159 shares of the company’s stock worth $252,642,000 after acquiring an additional 2,552,989 shares during the period. Virginia Retirement Systems ET AL purchased a new position in Kroger in the 2nd quarter valued at $82,523,000. Legal & General Group Plc boosted its holdings in shares of Kroger by 27.2% in the fourth quarter. Legal & General Group Plc now owns 6,724,392 shares of the company’s stock valued at $307,372,000 after acquiring an additional 1,438,626 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Kroger in the 1st quarter valued at approximately $71,410,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

About Kroger

The Kroger Co operates as a food and drug retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. 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.