Kroger Company (The) (KR) Stock Rating Reaffirmed by Jefferies Group LLC
Jefferies Group LLC restated their hold rating on shares of Kroger Company (The) (NYSE:KR) in a research report released on Thursday. They currently have a $24.00 target price on the stock, down from their previous target price of $25.00. Jefferies Group also issued estimates for Kroger Company (The)’s Q4 2018 earnings at $0.63 EPS, Q1 2019 earnings at $0.61 EPS, Q3 2019 earnings at $0.42 EPS, FY2019 earnings at $2.05 EPS, FY2020 earnings at $2.20 EPS, FY2021 earnings at $2.43 EPS and FY2022 earnings at $2.72 EPS.
Other research analysts have also issued reports about the stock. Royal Bank Of Canada reiterated a buy rating and issued a $37.00 target price on shares of Kroger Company (The) in a research note on Friday, May 12th. Deutsche Bank AG reiterated a buy rating on shares of Kroger Company (The) in a research note on Friday, May 12th. Vetr lowered shares of Kroger Company (The) from a strong-buy rating to a buy rating and set a $33.46 target price on the stock. in a research note on Wednesday, May 10th. Wells Fargo & Company reiterated a buy rating and issued a $28.00 target price (down from $35.00) on shares of Kroger Company (The) in a research note on Monday, June 12th. Finally, Argus reiterated a buy rating on shares of Kroger Company (The) in a research note on Monday, June 19th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $30.04.
Kroger Company (KR) opened at 22.42 on Thursday. The firm has a 50-day moving average of $23.20 and a 200-day moving average of $27.23. The firm has a market cap of $20.12 billion, a price-to-earnings ratio of 13.50 and a beta of 0.79. Kroger Company has a one year low of $20.46 and a one year high of $36.44.
Kroger Company (The) (NYSE:KR) last announced its quarterly earnings results on Thursday, June 15th. The company reported $0.58 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.58. Kroger Company (The) had a net margin of 1.35% and a return on equity of 29.10%. The company had revenue of $36.29 billion for the quarter, compared to analyst estimates of $35.69 billion. During the same quarter in the prior year, the business posted $0.70 EPS. Kroger Company (The)’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts anticipate that Kroger Company will post $1.98 EPS for the current year.
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Kroger Company (The) declared that its Board of Directors has initiated a stock repurchase plan on Thursday, June 22nd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were issued a dividend of $0.125 per share. This is an increase from Kroger Company (The)’s previous quarterly dividend of $0.12. This represents a $0.50 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Friday, August 11th. Kroger Company (The)’s dividend payout ratio (DPR) is currently 30.12%.
In other news, insider J Michael Schlotman purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was purchased at an average cost of $22.73 per share, with a total value of $45,460.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan M. Phillips sold 6,200 shares of Kroger Company (The) stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $21.17, for a total transaction of $131,254.00. Following the transaction, the director now directly owns 124,105 shares of the company’s stock, valued at $2,627,302.85. The disclosure for this sale can be found here. Company insiders own 0.87% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. IHT Wealth Management LLC lifted its holdings in Kroger Company (The) by 122.1% during the 2nd quarter. IHT Wealth Management LLC now owns 2,770 shares of the company’s stock valued at $376,000 after purchasing an additional 1,523 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new position in Kroger Company (The) during the 1st quarter valued at about $102,000. Advantage Investment Management LLC lifted its holdings in Kroger Company (The) by 15.8% during the 1st quarter. Advantage Investment Management LLC now owns 3,682 shares of the company’s stock valued at $109,000 after purchasing an additional 502 shares during the last quarter. YorkBridge Wealth Partners LLC lifted its holdings in Kroger Company (The) by 4.1% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 4,323 shares of the company’s stock valued at $125,000 after purchasing an additional 171 shares during the last quarter. Finally, Dupont Capital Management Corp bought a new position in Kroger Company (The) during the 2nd quarter valued at about $105,000. 74.63% of the stock is owned by hedge funds and other institutional investors.
Kroger Company (The) Company Profile
The Kroger Co (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates.
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