Kroger (NYSE:KR) PT Lowered to $62.00

Kroger (NYSE:KR) had its price target reduced by Evercore ISI from $63.00 to $62.00 in a research report report published on Tuesday, Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts have also recently issued research reports about the stock. Guggenheim boosted their price objective on shares of Kroger from $60.00 to $61.00 and gave the stock a buy rating in a research report on Tuesday, March 19th. Wells Fargo & Company raised Kroger from an equal weight rating to an overweight rating and upped their price target for the company from $58.00 to $65.00 in a research note on Tuesday. BNP Paribas reiterated an underperform rating and issued a $48.00 price objective on shares of Kroger in a research report on Monday, April 8th. Finally, Telsey Advisory Group lifted their price target on shares of Kroger from $60.00 to $62.00 and gave the stock an outperform rating in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $55.17.

Kroger Trading Up 1.8 %

Shares of KR opened at $56.57 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.36 and a current ratio of 0.81. The company has a market cap of $40.83 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 2.59 and a beta of 0.48. The stock has a fifty day moving average price of $53.27 and a two-hundred day moving average price of $47.83. Kroger has a 52-week low of $42.10 and a 52-week high of $58.34.

Kroger (NYSE:KR) last issued its quarterly earnings results on Thursday, March 7th. The company reported $1.34 earnings per share (EPS) for the quarter, topping 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 firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. Analysts predict that Kroger will post 4.43 EPS for the current fiscal year.

Kroger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Tuesday, May 14th. Kroger’s dividend payout ratio is currently 39.19%.

Hedge Funds Weigh In On Kroger

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in Kroger during the 4th quarter worth $229,863,000. Alliancebernstein L.P. raised its position in shares of Kroger by 82.0% during the fourth quarter. Alliancebernstein L.P. now owns 5,667,159 shares of the company’s stock worth $252,642,000 after purchasing an additional 2,552,989 shares during the period. Legal & General Group Plc lifted its holdings in shares of Kroger by 27.2% during the 4th quarter. Legal & General Group Plc now owns 6,724,392 shares of the company’s stock valued at $307,372,000 after purchasing an additional 1,438,626 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Kroger during the 1st quarter worth approximately $71,410,000. Finally, Sanders Capital LLC raised its holdings in Kroger by 5.0% during the 4th quarter. Sanders Capital LLC now owns 23,786,389 shares of the company’s stock worth $1,087,276,000 after buying an additional 1,123,427 shares during the period. 80.93% of the stock is owned by institutional investors.

Kroger Company Profile

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.