Kroger Co. (KR) Receives “Outperform” Rating from Oppenheimer Holdings Inc.
Oppenheimer Holdings Inc. reiterated their outperform rating on shares of Kroger Co. (NYSE:KR) in a research note released on Wednesday morning. Oppenheimer Holdings Inc. currently has a $40.00 price objective on the stock.
Several other equities research analysts have also commented on KR. Zacks Investment Research lowered shares of Kroger from a buy rating to a hold rating in a research report on Tuesday, June 7th. Royal Bank Of Canada restated a sector perform rating and set a $39.00 target price on shares of Kroger in a research report on Monday, June 13th. Wolfe Research lowered shares of Kroger from an outperform rating to a market perform rating in a research report on Wednesday, June 15th. Piper Jaffray Cos. reiterated an underweight rating and issued a $29.00 price objective on shares of Kroger in a research report on Friday, June 17th. Finally, Deutsche Bank AG decreased their price objective on shares of Kroger from $48.00 to $41.00 and set a buy rating on the stock in a research report on Friday, June 17th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $38.92.
Shares of Kroger (NYSE:KR) opened at 28.84 on Wednesday. The firm has a market capitalization of $27.23 billion, a PE ratio of 13.67 and a beta of 0.70. Kroger has a 12 month low of $28.76 and a 12 month high of $42.75. The firm’s 50 day moving average is $31.23 and its 200-day moving average is $34.69.
Kroger (NYSE:KR) last issued its earnings results on Friday, September 9th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.45 by $0.02. The company had revenue of $26.60 billion for the quarter. Kroger had a net margin of 1.82% and a return on equity of 32.52%. Kroger’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 earnings per share. On average, analysts expect that Kroger will post $2.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Thursday, November 10th. Kroger’s dividend payout ratio (DPR) is presently 22.86%.
In related news, VP Oflen Mary Elizabeth Van sold 12,000 shares of the firm’s stock in a transaction on Friday, July 8th. The stock was sold at an average price of $37.85, for a total transaction of $454,200.00. Following the transaction, the vice president now directly owns 82,349 shares in the company, valued at $3,116,909.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kevin M. Dougherty sold 31,000 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $31.05, for a total value of $962,550.00. Following the transaction, the insider now owns 130,857 shares in the company, valued at $4,063,109.85. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Acropolis Investment Management LLC boosted its stake in Kroger by 0.6% in the third quarter. Acropolis Investment Management LLC now owns 58,710 shares of the company’s stock worth $1,743,000 after buying an additional 355 shares during the last quarter. Park National Corp OH boosted its stake in Kroger by 1.5% in the third quarter. Park National Corp OH now owns 38,484 shares of the company’s stock worth $1,142,000 after buying an additional 587 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Kroger during the second quarter worth about $1,417,000. Kentucky Retirement Systems bought a new stake in Kroger during the second quarter worth about $2,984,000. Finally, Mason Street Advisors LLC bought a new stake in Kroger during the second quarter worth about $4,726,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.
The Kroger Co (Kroger) operates retail food and drug stores, multi-department stores, jewelry stores and convenience stores across the United States. The Company also manufactures and processes food for sale in its supermarkets. It operates through retail operations segment. The Company operates, either directly or through its subsidiaries, approximately 2,778 retail food stores under a range of local banner names, approximately 1,387 of which have fuel centers.
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