Kroger’s (KR) “Overweight” Rating Reaffirmed at Morgan Stanley
Kroger Co. (NYSE:KR)‘s stock had its “overweight” rating restated by analysts at Morgan Stanley in a note issued to investors on Wednesday. They presently have a $40.00 price objective on the stock. Morgan Stanley’s target price points to a potential upside of 28.33% from the stock’s current price.
A number of other equities research analysts have also commented on KR. BMO Capital Markets set a $35.00 price objective on shares of Kroger and gave the company a “hold” rating in a research note on Sunday, September 11th. Jefferies Group set a $32.00 price objective on shares of Kroger and gave the company a “hold” rating in a research note on Saturday, October 1st. Telsey Advisory Group dropped their target price on shares of Kroger from $46.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, September 12th. Citigroup Inc. dropped their target price on shares of Kroger from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday, September 13th. Finally, RBC Capital Markets reiterated a “sector perform” rating and set a $37.00 target price on shares of Kroger in a research report on Friday, September 16th. Four 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 a consensus target price of $38.97.
Shares of Kroger (NYSE:KR) traded up 3.59% on Wednesday, hitting $31.19. 31,075,677 shares of the stock were exchanged. The stock’s 50-day moving average is $30.88 and its 200-day moving average is $34.45. The stock has a market cap of $29.45 billion, a price-to-earnings ratio of 14.79 and a beta of 0.70. Kroger has a 1-year low of $28.71 and a 1-year high of $42.75.
Kroger (NYSE:KR) last posted its quarterly earnings data on Friday, September 9th. The company reported $0.47 EPS for the quarter, beating the Zacks’ 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 company had revenue of $26.60 billion for the quarter. During the same period in the prior year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. Analysts forecast that Kroger will post $2.14 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Thursday, November 10th. Kroger’s payout ratio is 22.86%.
In other news, insider Kevin M. Dougherty sold 31,000 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $31.05, for a total value of $962,550.00. Following the sale, the insider now directly owns 130,857 shares of the company’s stock, valued at $4,063,109.85. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.85% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the company. Bessemer Group Inc. increased its stake in shares of Kroger by 2.0% in the first quarter. Bessemer Group Inc. now owns 5,544 shares of the company’s stock worth $212,000 after buying an additional 110 shares in the last quarter. M&T Bank Corp increased its stake in shares of Kroger by 2.5% in the first quarter. M&T Bank Corp now owns 189,007 shares of the company’s stock worth $7,229,000 after buying an additional 4,567 shares in the last quarter. Aviva PLC increased its stake in shares of Kroger by 1.3% in the first quarter. Aviva PLC now owns 702,981 shares of the company’s stock worth $26,889,000 after buying an additional 8,777 shares in the last quarter. AMF Pensionsforsakring AB increased its stake in shares of Kroger by 0.4% in the first quarter. AMF Pensionsforsakring AB now owns 1,671,081 shares of the company’s stock worth $63,919,000 after buying an additional 7,447 shares in the last quarter. Finally, Credit Agricole S A increased its stake in shares of Kroger by 12.0% in the first quarter. Credit Agricole S A now owns 2,251,019 shares of the company’s stock worth $86,102,000 after buying an additional 240,595 shares in the last quarter. 80.16% of the stock is currently owned by hedge funds and other institutional investors.
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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