Several other research analysts have also recently weighed in on the stock. ValuEngine raised shares of Kroger from a sell rating to a hold rating in a research report on Saturday, June 16th. Wolfe Research cut shares of Kroger from a market perform rating to an underperform rating in a research report on Monday. Bank of America raised shares of Kroger from a neutral rating to a buy rating and boosted their price target for the company from $28.00 to $33.00 in a research report on Thursday, May 17th. Morgan Stanley boosted their price target on shares of Kroger from $26.50 to $28.00 and gave the company an equal weight rating in a research report on Friday, June 22nd. Finally, Telsey Advisory Group boosted their price target on shares of Kroger from $27.00 to $29.00 and gave the company a market perform rating in a research report on Friday, June 22nd. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Hold and an average price target of $28.20.
Shares of Kroger opened at $28.43 on Tuesday, according to Marketbeat Ratings. The firm has a market capitalization of $23.32 billion, a P/E ratio of 13.94, a P/E/G ratio of 2.17 and a beta of 1.03. The company has a quick ratio of 0.29, a current ratio of 0.76 and a debt-to-equity ratio of 1.74. Kroger has a one year low of $19.69 and a one year high of $31.45.
Kroger (NYSE:KR) last released its earnings results on Thursday, June 21st. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.10. Kroger had a net margin of 2.93% and a return on equity of 29.59%. The business had revenue of $37.53 billion during the quarter, compared to analyst estimates of $37.25 billion. During the same quarter in the prior year, the firm earned $0.58 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. equities research analysts expect that Kroger will post 2.11 earnings per share for the current year.
Kroger declared that its board has approved a share buyback plan on Thursday, March 15th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Saturday, September 1st. Shareholders of record on Wednesday, August 15th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.97%. This is a boost from Kroger’s previous quarterly dividend of $0.13. Kroger’s dividend payout ratio is presently 24.51%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Compagnie Lombard Odier SCmA acquired a new stake in shares of Kroger during the fourth quarter worth about $119,000. James Hambro & Partners acquired a new stake in shares of Kroger during the fourth quarter worth about $165,000. Gables Capital Management Inc. acquired a new stake in shares of Kroger during the first quarter worth about $197,000. Montag A & Associates Inc. acquired a new stake in shares of Kroger during the first quarter worth about $201,000. Finally, Transamerica Financial Advisors Inc. acquired a new stake in shares of Kroger during the first quarter worth about $201,000. 81.21% of the stock is currently owned by institutional investors.
The Kroger Co, together with its subsidiaries, operates as a retailer in the United States. It also manufactures and processes food products for sale in its supermarkets. The company operates supermarkets, multi-department stores, jewelry stores, and convenience stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; multi-department stores provide general merchandise items, such as apparel, home fashion and furnishings, outdoor living, electronics, automotive products, toys, and fine jewelry; and price impact warehouse stores offer grocery, and health and beauty care items, as well as meat, dairy, baked goods, and fresh produce items.
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