Kroger (NYSE:KR) Price Target Raised to $63.00 at Guggenheim

Kroger (NYSE:KR) had its price objective increased by Guggenheim from $61.00 to $63.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also issued reports on the company. StockNews.com lowered Kroger from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 16th. 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 report on Friday, September 13th. Telsey Advisory Group reiterated an “outperform” rating and issued a $62.00 price target on shares of Kroger in a research report on Wednesday, October 9th. BNP Paribas initiated coverage on shares of Kroger in a report on Friday, October 18th. They set a “neutral” rating and a $56.00 price objective for the company. Finally, Melius Research began coverage on shares of Kroger in a report on Monday, September 23rd. They issued a “hold” rating and a $55.00 target price on the stock. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $60.27.

Kroger Price Performance

Shares of KR stock opened at $60.09 on Monday. The company has a quick ratio of 0.46, a current ratio of 0.87 and a debt-to-equity ratio of 0.96. Kroger has a 12 month low of $42.97 and a 12 month high of $60.58. The firm has a market cap of $43.47 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 0.92 and a beta of 0.48. The stock has a 50-day moving average price of $56.96 and a 200 day moving average price of $54.25.

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

Kroger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, November 15th. This represents a $1.28 annualized dividend and a dividend yield of 2.13%. Kroger’s dividend payout ratio is currently 33.51%.

Insider Activity at Kroger

In other Kroger news, VP Carin L. Fike sold 3,010 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $55.57, for a total transaction of $167,265.70. Following the sale, the vice president now directly owns 47,593 shares of the company’s stock, valued at $2,644,743.01. The trade was a 5.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Brian W. Nichols sold 6,922 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $55.80, for a total value of $386,247.60. Following the completion of the transaction, the vice president now owns 14,063 shares of the company’s stock, valued at $784,715.40. The trade was a 32.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,932 shares of company stock valued at $721,243. 1.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Mendel Capital Management LLC lifted its stake in Kroger by 0.6% in the 3rd quarter. Mendel Capital Management LLC now owns 31,559 shares of the company’s stock valued at $1,808,000 after purchasing an additional 181 shares during the last quarter. Jaffetilchin Investment Partners LLC lifted its holdings in Kroger by 1.1% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 16,551 shares of the company’s stock valued at $826,000 after purchasing an additional 187 shares during the last quarter. SignalPoint Asset Management LLC boosted its position in Kroger by 3.2% during the third quarter. SignalPoint Asset Management LLC now owns 6,500 shares of the company’s stock worth $367,000 after purchasing an additional 200 shares during the period. Bleakley Financial Group LLC increased its holdings in shares of Kroger by 1.9% in the third quarter. Bleakley Financial Group LLC now owns 11,726 shares of the company’s stock valued at $672,000 after purchasing an additional 215 shares during the last quarter. Finally, M3 Advisory Group LLC raised its position in shares of Kroger by 5.6% in the third quarter. M3 Advisory Group LLC now owns 4,285 shares of the company’s stock valued at $246,000 after purchasing an additional 226 shares during the period. 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.