Citigroup Inc. Reiterates $39.00 Price Target for Kroger Co. (KR)
Kroger Co. (NYSE:KR) received a $39.00 price objective from analysts at Citigroup Inc. in a note issued to investors on Friday. The firm presently has a a “buy” rating on the stock. Citigroup Inc.’s target price would indicate a potential upside of 32.79% from the company’s previous close.
Several other research analysts have also issued reports on KR. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $39.00 price objective on shares of Kroger in a research note on Monday, June 13th. Wolfe Research lowered shares of Kroger from an “outperform” rating to a “market perform” rating in a research note 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 note on Friday, June 17th. Deutsche Bank AG lowered their price objective on shares of Kroger from $48.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, June 17th. Finally, Zacks Investment Research upgraded shares of Kroger from a “sell” rating to a “hold” rating in a research note on Monday, June 20th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Kroger has a consensus rating of “Buy” and a consensus price target of $38.92.
Shares of Kroger (NYSE:KR) traded down 0.936% on Friday, reaching $29.095. 7,527,707 shares of the company traded hands. The firm has a 50-day moving average price of $31.16 and a 200 day moving average price of $34.66. Kroger has a one year low of $28.71 and a one year high of $42.75. The company has a market capitalization of $27.47 billion, a PE ratio of 13.796 and a beta of 0.70.
Kroger (NYSE:KR) last released its quarterly earnings results on Friday, September 9th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.02. Kroger had a net margin of 1.82% and a return on equity of 32.52%. The firm earned $26.60 billion during the quarter. During the same quarter in the previous year, the business posted $0.44 EPS. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. Equities analysts forecast that Kroger will post $2.14 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Thursday, November 10th. Kroger’s dividend payout ratio (DPR) is 22.86%.
In related news, insider Kevin M. Dougherty sold 31,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $31.05, for a total value of $962,550.00. Following the transaction, the insider now directly owns 130,857 shares in the company, valued at $4,063,109.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.85% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Ngam Advisors L.P. boosted its position in Kroger by 2.7% in the first quarter. Ngam Advisors L.P. now owns 105,725 shares of the company’s stock valued at $4,044,000 after buying an additional 2,801 shares during the period. Nikko Asset Management Americas Inc. bought a new position in Kroger during the first quarter valued at $354,000. NN Investment Partners Holdings N.V. bought a new position in Kroger during the first quarter valued at $14,432,000. Bessemer Group Inc. boosted its position in Kroger by 2.0% in the first quarter. Bessemer Group Inc. now owns 5,544 shares of the company’s stock valued at $212,000 after buying an additional 110 shares during the period. Finally, Landscape Capital Management L.L.C. boosted its position in Kroger by 227.6% in the first quarter. Landscape Capital Management L.L.C. now owns 103,519 shares of the company’s stock valued at $3,960,000 after buying an additional 71,919 shares during the period. Institutional investors own 80.17% of the company’s stock.
Kroger Company Profile
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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