Kroger Co. (KR) Receives Sector Perform Rating from RBC Capital Markets
A number of other research firms also recently issued reports on KR. Piper Jaffray Cos. restated an underweight rating and issued a $31.00 price target on shares of Kroger in a research report on Thursday, September 8th. Cleveland Research cut shares of Kroger from a buy rating to a hold rating in a report on Tuesday, August 23rd. Vetr raised shares of Kroger from a sell rating to a hold rating and set a $32.92 price objective on the stock in a report on Monday, November 21st. Citigroup Inc. dropped their price objective on shares of Kroger from $44.00 to $43.00 and set a buy rating on the stock in a report on Monday, August 29th. Finally, BMO Capital Markets cut shares of Kroger from an outperform rating to a market perform rating and increased their price objective for the stock from $34.01 to $35.00 in a report on Tuesday, August 2nd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $38.28.
Shares of Kroger (NYSE:KR) opened at 33.66 on Monday. The company’s 50-day moving average is $31.92 and its 200-day moving average is $33.33. Kroger has a 12-month low of $28.71 and a 12-month high of $42.75. The stock has a market cap of $31.78 billion, a P/E ratio of 15.96 and a beta of 0.74.
Kroger (NYSE:KR) last posted its quarterly earnings results on Friday, September 9th. The company reported $0.47 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the business posted $0.44 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, analysts expect that Kroger will post $2.13 earnings per share for the current fiscal year.
The firm also recently announced 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 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Thursday, November 10th. Kroger’s dividend payout ratio (DPR) is presently 22.86%.
In other Kroger news, insider Kevin M. Dougherty sold 31,000 shares of Kroger 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 completion of the sale, the insider now directly owns 130,857 shares in the company, valued at $4,063,109.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.85% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Bristol Gate Capital Partners Inc. raised its position in Kroger by 10.1% in the second quarter. Bristol Gate Capital Partners Inc. now owns 741,903 shares of the company’s stock worth $27,295,000 after buying an additional 68,144 shares in the last quarter. BB&T Corp raised its position in Kroger by 196.4% in the second quarter. BB&T Corp now owns 287,193 shares of the company’s stock worth $10,566,000 after buying an additional 190,292 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in Kroger by 84.9% in the third quarter. Oregon Public Employees Retirement Fund now owns 410,306 shares of the company’s stock worth $12,178,000 after buying an additional 188,356 shares in the last quarter. Community Trust & Investment Co. raised its position in Kroger by 42.5% in the third quarter. Community Trust & Investment Co. now owns 402,614 shares of the company’s stock worth $11,949,000 after buying an additional 119,991 shares in the last quarter. Finally, WestEnd Advisors LLC purchased a new position in Kroger during the second quarter worth approximately $95,812,000. Hedge funds and other institutional investors own 75.51% 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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