Vetr Inc. Downgrades Kroger Co. (KR) to Sell
Kroger Co. (NYSE:KR) was downgraded by equities researchers at Vetr from a “hold” rating to a “sell” rating in a note issued to investors on Monday. They currently have a $32.15 target price on the stock. Vetr‘s price objective indicates a potential downside of 7.77% from the company’s previous close.
Several other analysts also recently issued reports on the stock. Deutsche Bank AG reaffirmed a “buy” rating and issued a $39.00 price target on shares of Kroger in a report on Wednesday, October 26th. BMO Capital Markets downgraded shares of Kroger from an “outperform” rating to a “market perform” rating and upped their price target for the company from $34.01 to $35.00 in a report on Tuesday, August 2nd. Royal Bank Of Canada reduced their price target on shares of Kroger from $39.00 to $37.00 and set a “sector perform” rating on the stock in a report on Wednesday, September 7th. Zacks Investment Research downgraded shares of Kroger from a “hold” rating to a “sell” rating in a research note on Tuesday, August 30th. Finally, Citigroup Inc. reduced their price objective on shares of Kroger from $44.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, August 29th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $38.25.
Shares of Kroger (NYSE:KR) opened at 34.86 on Monday. The firm has a market cap of $32.91 billion, a P/E ratio of 16.53 and a beta of 0.74. Kroger has a 12-month low of $28.71 and a 12-month high of $42.75. The company has a 50-day moving average of $30.91 and a 200 day moving average of $33.43.
Kroger (NYSE:KR) last announced its quarterly earnings results on Friday, September 9th. The company reported $0.47 earnings per share (EPS) for the quarter, beating 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 company had revenue of $26.60 billion for the quarter. During the same period last year, the company earned $0.44 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities research analysts anticipate that Kroger will post $2.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be given a $0.12 dividend. The ex-dividend date is Thursday, November 10th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.38%. Kroger’s payout ratio is currently 22.86%.
In other news, insider Kevin M. Dougherty sold 31,000 shares of the firm’s 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 transaction, the insider now directly owns 130,857 shares in the company, valued at approximately $4,063,109.85. The transaction 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.
A number of hedge funds have recently modified their holdings of KR. Physicians Financial Services Inc. increased its stake in shares of Kroger by 7,500.0% in the second quarter. Physicians Financial Services Inc. now owns 3,040 shares of the company’s stock valued at $112,000 after buying an additional 3,000 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of Kroger by 32.7% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,246 shares of the company’s stock valued at $119,000 after buying an additional 800 shares in the last quarter. Integrated Investment Consultants LLC increased its stake in shares of Kroger by 2.8% in the second quarter. Integrated Investment Consultants LLC now owns 3,722 shares of the company’s stock valued at $137,000 after buying an additional 100 shares in the last quarter. Barnett & Company Inc. purchased a new stake in shares of Kroger during the first quarter valued at $145,000. Finally, Baldwin Brothers Inc. MA increased its stake in shares of Kroger by 212.4% in the third quarter. Baldwin Brothers Inc. MA now owns 4,052 shares of the company’s stock valued at $120,000 after buying an additional 2,755 shares in the last quarter. Hedge funds and other institutional investors own 79.57% 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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