Kroger Co. (KR) Downgraded by Vetr Inc.
Kroger Co. (NYSE:KR) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday. They presently have a $33.25 price target on the stock. Vetr‘s target price would suggest a potential upside of 10.43% from the stock’s previous close.
KR has been the subject of several other research reports. Barclays PLC initiated coverage on Kroger in a report on Friday, September 23rd. They issued an “equal weight” rating and a $33.00 price target for the company. Citigroup Inc. dropped their target price on Kroger from $44.00 to $43.00 and set a “buy” rating for the company in a report on Monday, August 29th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $40.00 target price on shares of Kroger in a report on Wednesday, October 5th. RBC Capital Markets reissued a “sector perform” rating and issued a $37.00 target price (down from $39.00) on shares of Kroger in a report on Wednesday, September 7th. Finally, Zacks Investment Research cut Kroger from a “hold” rating to a “sell” rating in a report on Monday, October 3rd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $38.93.
Shares of Kroger (NYSE:KR) traded up 3.65% on Tuesday, reaching $30.11. The company’s stock had a trading volume of 17,782,839 shares. Kroger has a 52 week low of $28.71 and a 52 week high of $42.75. The stock has a 50-day moving average of $30.88 and a 200 day moving average of $34.45. The stock has a market capitalization of $28.43 billion, a price-to-earnings ratio of 14.28 and a beta of 0.70.
Kroger (NYSE:KR) last posted its quarterly earnings results on Friday, September 9th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.45 by $0.02. The firm earned $26.60 billion during the quarter. Kroger had a return on equity of 32.52% and a net margin of 1.82%. The company’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the company earned $0.44 EPS. On average, analysts expect that Kroger will post $2.14 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Thursday, November 10th. Kroger’s dividend payout ratio is 22.86%.
In other Kroger news, insider Kevin M. Dougherty sold 31,000 shares of Kroger stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $31.05, for a total value of $962,550.00. Following the sale, the insider now owns 130,857 shares of the company’s stock, valued at approximately $4,063,109.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.85% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in KR. Euclid Advisors LLC boosted its position in shares of Kroger by 40.3% in the first quarter. Euclid Advisors LLC now owns 739,729 shares of the company’s stock valued at $28,295,000 after buying an additional 212,459 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Kroger by 8.7% in the first quarter. Wellington Management Group LLP now owns 1,559,304 shares of the company’s stock valued at $59,643,000 after buying an additional 124,390 shares during the last quarter. Capital Advisors Inc. OK boosted its position in shares of Kroger by 5.8% in the second quarter. Capital Advisors Inc. OK now owns 10,500 shares of the company’s stock valued at $386,000 after buying an additional 580 shares during the last quarter. CrestPoint Capital Management LLC boosted its position in shares of Kroger by 4.6% in the second quarter. CrestPoint Capital Management LLC now owns 25,100 shares of the company’s stock valued at $923,000 after buying an additional 1,100 shares during the last quarter. Finally, Lincoln National Corp bought a new position in shares of Kroger during the second quarter valued at $211,000. Institutional investors own 80.16% 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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