The Kroger Co. (NYSE:KR) Receives $60.09 Consensus Target Price from Brokerages

The Kroger Co. (NYSE:KR) has earned an average rating of “Moderate Buy” from the twelve brokerages that are covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $60.09.

A number of brokerages have recently weighed in on KR. Argus lifted their price objective on Kroger from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. boosted their target price on Kroger from $58.00 to $59.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Morgan Stanley boosted their target price on Kroger from $57.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. Evercore ISI lifted their price target on Kroger from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. Finally, BNP Paribas started coverage on Kroger in a report on Friday, October 18th. They set a “neutral” rating and a $56.00 price target for the company.

Kroger Price Performance

NYSE:KR opened at $58.06 on Friday. Kroger has a 52 week low of $42.31 and a 52 week high of $60.35. The company has a quick ratio of 0.46, a current ratio of 0.87 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $42.01 billion, a P/E ratio of 15.20, a P/E/G ratio of 0.90 and a beta of 0.48. The stock’s fifty day moving average is $56.51 and its two-hundred day moving average is $54.13.

Kroger (NYSE:KR) last posted its earnings results on Thursday, September 12th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. Kroger had a return on equity of 28.54% and a net margin of 1.86%. The company had revenue of $33.91 billion for the quarter, compared to the consensus estimate of $34.09 billion. During the same quarter in the previous year, the business earned $0.96 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts expect that Kroger will post 4.46 EPS for the current year.

Kroger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.20%. The ex-dividend date is Friday, November 15th. Kroger’s dividend payout ratio is presently 33.51%.

Insider Buying and Selling at Kroger

In other Kroger news, VP Brian W. Nichols sold 6,922 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $55.80, for a total transaction of $386,247.60. Following the completion of the sale, the vice president now directly owns 14,063 shares of the company’s stock, valued at $784,715.40. This represents a 32.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Carin L. Fike sold 3,010 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $55.57, for a total value of $167,265.70. Following the sale, the vice president now directly owns 47,593 shares of the company’s stock, valued at approximately $2,644,743.01. This represents a 5.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,932 shares of company stock valued at $721,243 in the last ninety days. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Kroger

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd acquired a new position in Kroger during the 2nd quarter worth approximately $28,000. Northwest Investment Counselors LLC acquired a new position in Kroger during the 3rd quarter worth approximately $34,000. Newbridge Financial Services Group Inc. increased its position in Kroger by 218.8% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 714 shares of the company’s stock worth $36,000 after purchasing an additional 490 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Kroger in the 3rd quarter worth approximately $40,000. Finally, ORG Partners LLC acquired a new stake in shares of Kroger in the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.