Kroger (NYSE:KR) Earns “Market Perform” Rating from Telsey Advisory Group
Telsey Advisory Group reaffirmed their market perform rating on shares of Kroger (NYSE:KR) in a report released on Friday, Briefing.com Automated Import reports. The firm currently has a $29.00 price target on the stock.
A number of other analysts also recently weighed in on KR. ValuEngine upgraded Kroger from a sell rating to a hold rating in a research report on Thursday, November 14th. Jefferies Financial Group cut shares of Kroger from a buy rating to a hold rating and cut their price objective for the company from $29.00 to $26.00 in a research note on Thursday, October 10th. Bank of America set a $28.00 target price on shares of Kroger and gave the company a buy rating in a report on Friday, September 13th. Guggenheim set a $26.00 target price on Kroger and gave the stock a buy rating in a research note on Tuesday, September 3rd. Finally, Wells Fargo & Co upped their price target on Kroger from $29.00 to $31.00 and gave the company an outperform rating in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $27.37.
Shares of KR opened at $27.49 on Friday. The firm’s 50 day simple moving average is $26.20 and its 200 day simple moving average is $24.12. The company has a market capitalization of $22.04 billion, a P/E ratio of 13.03, a P/E/G ratio of 1.97 and a beta of 0.58. The company has a debt-to-equity ratio of 2.14, a current ratio of 0.78 and a quick ratio of 0.26. Kroger has a 1-year low of $20.70 and a 1-year high of $30.40.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 15th were issued a $0.16 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.64 annualized dividend and a yield of 2.33%. Kroger’s dividend payout ratio (DPR) is presently 30.33%.
In related news, COO Michael Joseph Donnelly sold 40,510 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $26.28, for a total transaction of $1,064,602.80. Following the sale, the chief operating officer now owns 350,145 shares of the company’s stock, valued at $9,201,810.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP J Michael Schlotman sold 68,187 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $26.02, for a total transaction of $1,774,225.74. Following the sale, the executive vice president now directly owns 295,160 shares in the company, valued at approximately $7,680,063.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 134,323 shares of company stock worth $3,537,389. Insiders own 1.34% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC increased its holdings in shares of Kroger by 91,031.4% during the third quarter. Millennium Management LLC now owns 3,005,513 shares of the company’s stock valued at $77,482,000 after acquiring an additional 3,002,215 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Kroger by 30.2% in the 2nd quarter. Victory Capital Management Inc. now owns 10,689,834 shares of the company’s stock worth $232,077,000 after purchasing an additional 2,477,585 shares in the last quarter. Nuveen Asset Management LLC grew its position in Kroger by 170.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,450,595 shares of the company’s stock valued at $74,912,000 after purchasing an additional 2,173,370 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Kroger during the 2nd quarter valued at about $35,064,000. Finally, Coho Partners Ltd. grew its position in Kroger by 31.1% during the 2nd quarter. Coho Partners Ltd. now owns 6,451,743 shares of the company’s stock valued at $140,067,000 after purchasing an additional 1,530,258 shares during the last quarter. 79.11% of the stock is owned by institutional investors and hedge funds.
The Kroger Co operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.
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