Research analysts at Citigroup began coverage on shares of Kroger (NYSE:KR) in a note issued to investors on Friday. The brokerage set a “buy” rating on the stock.
A number of other equities research analysts have also recently issued reports on the company. Bank of America dropped their price objective on Kroger from $33.00 to $28.00 and set a “neutral” rating on the stock in a research note on Friday, March 9th. Credit Suisse Group assumed coverage on Kroger in a research note on Tuesday, April 17th. They issued an “outperform” rating and a $28.00 price target on the stock. BMO Capital Markets set a $27.00 price target on Kroger and gave the company a “hold” rating in a research note on Monday, March 12th. Zacks Investment Research cut Kroger from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Finally, ValuEngine cut Kroger from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 2nd. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $28.71.
Kroger traded up $0.29, reaching $28.89, during trading hours on Friday, Marketbeat.com reports. 46,402 shares of the stock were exchanged, compared to its average volume of 13,741,365. Kroger has a twelve month low of $19.69 and a twelve month high of $31.45. The company has a quick ratio of 0.29, a current ratio of 0.76 and a debt-to-equity ratio of 1.74. The company has a market cap of $22.86 billion, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 2.03 and a beta of 1.03.
Kroger (NYSE:KR) last announced its quarterly earnings data on Thursday, June 21st. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.10. Kroger had a return on equity of 29.59% and a net margin of 2.93%. The company had revenue of $37.53 billion for the quarter, compared to analysts’ expectations of $37.25 billion. During the same quarter in the prior year, the business posted $0.58 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. analysts anticipate that Kroger will post 2.11 earnings per share for the current fiscal year.
Kroger declared that its Board of Directors has approved a share repurchase plan on Thursday, March 15th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other Kroger news, VP Carin L. Fike sold 4,000 shares of the company’s stock in a transaction on Tuesday, July 3rd. The stock was sold at an average price of $28.76, for a total value of $115,040.00. Following the transaction, the vice president now directly owns 29,361 shares of the company’s stock, valued at approximately $844,422.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.07% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. grew its holdings in shares of Kroger by 8.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 28,856 shares of the company’s stock worth $691,000 after purchasing an additional 2,128 shares in the last quarter. Tyers Asset Management LLC boosted its stake in Kroger by 1.7% in the first quarter. Tyers Asset Management LLC now owns 137,680 shares of the company’s stock valued at $3,296,000 after buying an additional 2,336 shares in the last quarter. Evanston Investments Inc. dba Evanston Advisors boosted its stake in Kroger by 0.8% in the first quarter. Evanston Investments Inc. dba Evanston Advisors now owns 318,723 shares of the company’s stock valued at $7,630,000 after buying an additional 2,491 shares in the last quarter. IFP Advisors Inc boosted its stake in Kroger by 10.4% in the first quarter. IFP Advisors Inc now owns 28,350 shares of the company’s stock valued at $679,000 after buying an additional 2,668 shares in the last quarter. Finally, BB&T Investment Services Inc. boosted its stake in Kroger by 4.7% in the fourth quarter. BB&T Investment Services Inc. now owns 63,801 shares of the company’s stock valued at $1,739,000 after buying an additional 2,884 shares in the last quarter. 81.25% of the stock is currently owned by institutional investors.
Kroger Company Profile
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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