Kroger’s (KR) Equal Weight Rating Reaffirmed at Morgan Stanley
Kroger (NYSE:KR)‘s stock had its “equal weight” rating reiterated by research analysts at Morgan Stanley in a report released on Friday. They currently have a $26.50 target price on the stock, down from their prior target price of $29.00. Morgan Stanley’s price target indicates a potential upside of 10.05% from the stock’s current price.
A number of other equities analysts also recently issued reports on the company. Zacks Investment Research upgraded Kroger from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Goldman Sachs Group restated a “neutral” rating and set a $22.00 price objective on shares of Kroger in a research report on Tuesday, November 14th. Citigroup raised their price objective on Kroger from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, December 26th. ValuEngine downgraded Kroger from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Jefferies Group upgraded Kroger from a “hold” rating to a “buy” rating and raised their price objective for the stock from $26.98 to $33.00 in a research report on Friday, January 5th. Sixteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Kroger presently has a consensus rating of “Hold” and a consensus target price of $27.52.
Kroger (NYSE:KR) opened at $24.08 on Friday. Kroger has a 1 year low of $19.69 and a 1 year high of $31.45. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.31 and a current ratio of 0.78. The stock has a market capitalization of $22,240.00, a PE ratio of 14.33, a PEG ratio of 3.69 and a beta of 1.04.
In other Kroger news, VP Michael Joseph Donnelly sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $30.64, for a total value of $1,225,600.00. Following the completion of the sale, the vice president now owns 319,124 shares of the company’s stock, valued at $9,777,959.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Todd A. Foley sold 3,800 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $24.43, for a total value of $92,834.00. Following the completion of the sale, the vice president now directly owns 31,273 shares of the company’s stock, valued at approximately $763,999.39. The disclosure for this sale can be found here. Insiders sold 110,130 shares of company stock valued at $3,187,062 in the last three months. Insiders own 0.85% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC boosted its position in shares of Kroger by 297.2% during the fourth quarter. Advisory Services Network LLC now owns 3,773 shares of the company’s stock valued at $104,000 after buying an additional 2,823 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of Kroger during the fourth quarter valued at approximately $119,000. Bessemer Group Inc. boosted its position in shares of Kroger by 97.2% during the fourth quarter. Bessemer Group Inc. now owns 4,980 shares of the company’s stock valued at $136,000 after buying an additional 2,455 shares during the last quarter. Gradient Investments LLC purchased a new position in shares of Kroger during the fourth quarter valued at approximately $152,000. Finally, Clear Perspective Advisors LLC purchased a new position in shares of Kroger during the third quarter valued at approximately $160,000. 74.75% of the stock is owned by hedge funds and other institutional investors.
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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