Kroger Company (The) (KR) Rating Reiterated by Oppenheimer Holdings, Inc.
Kroger Company (The) (NYSE:KR)‘s stock had its “hold” rating reissued by research analysts at Oppenheimer Holdings, Inc. in a note issued to investors on Wednesday. They presently have a $22.00 price target on the stock. Oppenheimer Holdings, Inc.’s price objective suggests a potential upside of 6.28% from the company’s current price. Oppenheimer Holdings also issued estimates for Kroger Company (The)’s Q3 2018 earnings at $0.40 EPS, FY2019 earnings at $1.73 EPS and FY2020 earnings at $1.80 EPS.
KR has been the subject of several other research reports. Jefferies Group LLC reissued a “hold” rating on shares of Kroger Company (The) in a research report on Friday, August 25th. BidaskClub lowered Kroger Company (The) from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. TheStreet lowered Kroger Company (The) from a “b” rating to a “c+” rating in a research report on Thursday, June 15th. Wells Fargo & Company reissued an “outperform” rating and issued a $28.00 target price on shares of Kroger Company (The) in a research report on Sunday, July 2nd. Finally, BMO Capital Markets set a $32.00 target price on Kroger Company (The) and gave the stock a “hold” rating in a research report on Saturday, June 10th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $28.54.
Shares of Kroger Company (NYSE:KR) opened at 20.70 on Wednesday. The firm has a market cap of $18.41 billion, a PE ratio of 12.52 and a beta of 0.76. The firm has a 50-day moving average price of $21.42 and a 200-day moving average price of $25.57. Kroger Company has a 52 week low of $19.69 and a 52 week high of $36.44. Kroger Company (The) also was the recipient of unusually large options trading on Thursday. Investors purchased 19,399 put options on the stock. This is an increase of approximately 127% compared to the typical volume of 8,553 put options.
Kroger Company (The) (NYSE:KR) last announced its earnings results on Friday, September 8th. The company reported $0.39 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.39. Kroger Company (The) had a return on equity of 28.04% and a net margin of 1.32%. The firm had revenue of $27.60 billion during the quarter, compared to analyst estimates of $27.48 billion. During the same quarter in the prior year, the company earned $0.47 EPS. The business’s revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts predict that Kroger Company will post $1.97 earnings per share for the current year.
Kroger Company (The) announced that its board has approved a share buyback plan on Thursday, June 22nd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
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Several hedge funds have recently modified their holdings of the company. Eqis Capital Management Inc. increased its holdings in shares of Kroger Company (The) by 43.5% in the third quarter. Eqis Capital Management Inc. now owns 12,883 shares of the company’s stock worth $258,000 after purchasing an additional 3,906 shares during the last quarter. Perpetual Ltd bought a new stake in shares of Kroger Company (The) in the second quarter worth about $2,725,000. Frontier Investment Mgmt Co. increased its holdings in shares of Kroger Company (The) by 107.2% in the second quarter. Frontier Investment Mgmt Co. now owns 50,142 shares of the company’s stock worth $1,169,000 after purchasing an additional 25,940 shares during the last quarter. Intl Fcstone Inc. bought a new stake in shares of Kroger Company (The) in the second quarter worth about $645,000. Finally, Paradigm Financial Advisors LLC bought a new stake in shares of Kroger Company (The) in the second quarter worth about $220,000. 75.83% of the stock is currently owned by hedge funds and other institutional investors.
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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