Kroger Company (The) (KR) Given Overweight Rating at Royal Bank Of Canada
Other equities research analysts have also issued research reports about the stock. UBS AG reissued a neutral rating and set a $27.00 target price (down previously from $32.00) on shares of Kroger Company (The) in a research note on Friday, June 16th. BMO Capital Markets set a $32.00 target price on shares of Kroger Company (The) and gave the company a hold rating in a research note on Saturday, June 10th. Loop Capital reissued a hold rating and set a $32.00 target price on shares of Kroger Company (The) in a research note on Wednesday, May 24th. Bank of America Corporation lowered shares of Kroger Company (The) from a buy rating to a neutral rating in a research note on Thursday, June 15th. Finally, Jefferies Group LLC reissued a hold rating and set a $26.00 target price (down previously from $30.00) on shares of Kroger Company (The) in a research note on Friday, June 16th. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $29.70.
Shares of Kroger Company (NYSE KR) traded down 7.620% on Thursday, hitting $21.035. The company’s stock had a trading volume of 54,539,404 shares. The stock’s 50 day moving average is $23.18 and its 200-day moving average is $26.95. The company has a market cap of $18.88 billion, a price-to-earnings ratio of 12.664 and a beta of 0.79. Kroger Company has a 52 week low of $20.41 and a 52 week high of $36.44. Kroger Company (The) also was the recipient of unusually large options trading activity on Thursday. Traders acquired 31,730 put options on the stock. This represents an increase of 607% compared to the typical daily volume of 4,485 put options.
Kroger Company (The) (NYSE:KR) last issued its earnings results on Friday, September 8th. The company reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. The company had revenue of $27.60 billion during the quarter, compared to analyst estimates of $27.48 billion. Kroger Company (The) had a net margin of 1.35% and a return on equity of 29.10%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $0.47 EPS. On average, equities research analysts anticipate that Kroger Company will post $1.98 earnings per share for the current year.
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Kroger Company (The) declared that its board has initiated a stock repurchase program on Thursday, June 22nd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders 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. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.50 annualized dividend and a dividend yield of 2.20%. Kroger Company (The)’s payout ratio is presently 30.12%.
In other news, Director Susan M. Phillips sold 6,200 shares of the business’s 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 owns 124,105 shares in the company, valued at approximately $2,627,302.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider J Michael Schlotman acquired 2,000 shares of the company’s stock in a transaction dated Monday, June 26th. The shares were bought at an average price of $22.73 per share, for a total transaction of $45,460.00. The disclosure for this purchase can be found here. Insiders own 0.85% of the company’s stock.
Several large investors have recently bought and sold shares of KR. Signature Estate & Investment Advisors LLC bought a new position in shares of Kroger Company (The) during the 1st quarter worth about $102,000. Dupont Capital Management Corp bought a new position in shares of Kroger Company (The) during the 2nd quarter worth about $105,000. Advantage Investment Management LLC increased its holdings in shares of Kroger Company (The) by 15.8% during the 1st quarter. Advantage Investment Management LLC now owns 3,682 shares of the company’s stock worth $109,000 after purchasing an additional 502 shares during the period. Cedar Wealth Management LLC increased its holdings in shares of Kroger Company (The) by 155.9% during the 2nd quarter. Cedar Wealth Management LLC now owns 4,990 shares of the company’s stock worth $116,000 after purchasing an additional 3,040 shares during the period. Finally, CWM LLC increased its holdings in shares of Kroger Company (The) by 1,162.2% during the 2nd quarter. CWM LLC now owns 5,213 shares of the company’s stock worth $122,000 after purchasing an additional 4,800 shares during the period. Institutional investors own 74.63% of the company’s stock.
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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