Kroger (NYSE:KR) Upgraded to Strong-Buy by StockNews.com

StockNews.com upgraded shares of Kroger (NYSE:KR) from a buy rating to a strong-buy rating in a research report released on Tuesday.

A number of other brokerages also recently weighed in on KR. Guggenheim lifted their target price on Kroger from $60.00 to $61.00 and gave the stock a buy rating in a report on Tuesday, March 19th. Wolfe Research upgraded shares of Kroger to a strong-buy rating in a research report on Friday, June 21st. BNP Paribas reissued an underperform rating and set a $48.00 target price on shares of Kroger in a research note on Monday, April 8th. Morgan Stanley decreased their price target on shares of Kroger from $58.00 to $57.00 and set an equal weight rating for the company in a research note on Monday, June 24th. Finally, BMO Capital Markets raised shares of Kroger from a market perform rating to an outperform rating and increased their price objective for the stock from $58.00 to $60.00 in a research report on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $57.30.

Kroger Stock Performance

Kroger stock opened at $50.43 on Tuesday. The business has a 50 day moving average of $52.93 and a 200-day moving average of $51.02. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.45. Kroger has a 1 year low of $42.10 and a 1 year high of $58.34. The company has a market capitalization of $36.39 billion, a P/E ratio of 17.21, a P/E/G ratio of 0.78 and a beta of 0.45.

Kroger (NYSE:KR) last posted its quarterly earnings data on Thursday, June 20th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. Kroger had a return on equity of 29.89% and a net margin of 1.43%. The business had revenue of $45.27 billion during the quarter, compared to the consensus estimate of $44.86 billion. During the same period in the prior year, the business posted $1.51 earnings per share. Kroger’s quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts predict that Kroger will post 4.44 earnings per share for the current year.

Kroger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th will be given a dividend of $1.28 per share. This represents a $5.12 dividend on an annualized basis and a yield of 10.15%. The ex-dividend date is Thursday, August 15th. This is a positive change from Kroger’s previous quarterly dividend of $0.29. Kroger’s dividend payout ratio (DPR) is currently 43.69%.

Insider Activity at Kroger

In other news, VP Carin L. Fike sold 3,929 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $57.03, for a total value of $224,070.87. Following the completion of the transaction, the vice president now directly owns 3,768 shares of the company’s stock, valued at $214,889.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Carin L. Fike sold 3,929 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $57.03, for a total transaction of $224,070.87. Following the completion of the transaction, the vice president now owns 3,768 shares of the company’s stock, valued at $214,889.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Todd A. Foley sold 6,616 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $55.69, for a total transaction of $368,445.04. Following the completion of the sale, the chief financial officer now owns 46,958 shares in the company, valued at $2,615,091.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,796 shares of company stock worth $3,118,767. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kroger

A number of institutional investors and hedge funds have recently bought and sold shares of KR. Hengehold Capital Management LLC boosted its holdings in shares of Kroger by 1.4% in the 1st quarter. Hengehold Capital Management LLC now owns 13,626 shares of the company’s stock worth $778,000 after purchasing an additional 185 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in Kroger by 2.8% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 6,922 shares of the company’s stock worth $395,000 after buying an additional 190 shares in the last quarter. W Advisors LLC grew its position in Kroger by 0.6% during the first quarter. W Advisors LLC now owns 32,876 shares of the company’s stock valued at $1,878,000 after acquiring an additional 191 shares during the last quarter. Csenge Advisory Group raised its stake in shares of Kroger by 4.3% during the first quarter. Csenge Advisory Group now owns 4,610 shares of the company’s stock worth $263,000 after acquiring an additional 191 shares in the last quarter. Finally, Global Financial Private Client LLC lifted its holdings in shares of Kroger by 1.2% in the 1st quarter. Global Financial Private Client LLC now owns 17,112 shares of the company’s stock worth $975,000 after acquiring an additional 196 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.