Kroger Company (The) (KR) Rating Lowered to Market Perform at Oppenheimer Holdings, Inc.
Kroger Company (The) (NYSE:KR) was downgraded by equities research analysts at Oppenheimer Holdings, Inc. to a “market perform” rating in a research report issued on Friday. They currently have a $23.00 price objective on the stock, down from their prior price objective of $28.00. Oppenheimer Holdings, Inc.’s price objective suggests a potential upside of 9.21% from the stock’s previous close.
Several other equities analysts have also commented on the stock. UBS AG lowered shares of Kroger Company (The) from an “outperform” rating to a “market perform” rating in a report on Friday. Royal Bank Of Canada reissued an “overweight” rating on shares of Kroger Company (The) in a report on Thursday. Deutsche Bank AG reissued a “buy” rating and issued a $26.00 target price on shares of Kroger Company (The) in a report on Tuesday, September 5th. Jefferies Group LLC reissued a “hold” rating and issued a $24.00 target price (down from $25.00) on shares of Kroger Company (The) in a report on Thursday, August 31st. Finally, Zacks Investment Research lowered shares of Kroger Company (The) from a “hold” rating to a “sell” rating in a report on Tuesday, August 29th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Kroger Company (The) has an average rating of “Hold” and an average price target of $29.70.
Kroger Company (KR) opened at 21.06 on Friday. The firm has a 50-day moving average of $23.12 and a 200-day moving average of $26.90. The firm has a market capitalization of $18.90 billion, a price-to-earnings ratio of 12.68 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 some unusual options trading activity on Thursday. Stock traders bought 31,730 put options on the stock. This is an increase of 607% compared to the typical daily volume of 4,485 put options.
Kroger Company (The) (NYSE:KR) last released its earnings results on Friday, September 8th. The company reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. Kroger Company (The) had a net margin of 1.35% and a return on equity of 29.10%. The firm had revenue of $27.60 billion for the quarter, compared to analyst estimates of $27.48 billion. During the same period last year, the firm earned $0.47 EPS. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts forecast that Kroger Company will post $1.98 EPS for the current fiscal year.
Kroger Company (The) declared that its Board of Directors has initiated a share buyback program on Thursday, June 22nd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
In related news, Director Susan M. Phillips sold 6,200 shares of the business’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider J Michael Schlotman bought 2,000 shares of the company’s stock in a transaction that occurred on 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. 0.85% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Signature Estate & Investment Advisors LLC acquired a new position in shares of Kroger Company (The) during the 1st quarter valued at $102,000. Dupont Capital Management Corp acquired a new position in shares of Kroger Company (The) during the 2nd quarter valued at $105,000. Advantage Investment Management LLC lifted its position 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 valued at $109,000 after acquiring an additional 502 shares during the period. Cedar Wealth Management LLC lifted its position 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 valued at $116,000 after acquiring an additional 3,040 shares during the period. Finally, CWM LLC lifted its position 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 valued at $122,000 after acquiring an additional 4,800 shares during the period. Institutional investors own 74.63% of the company’s stock.
About Kroger Company (The)
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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