Insider Selling: Geoffrey Covert Sells 78,216 Shares of Kroger Stock (KR)
Kroger (NYSE:KR) SVP Geoffrey Covert sold 78,216 shares of the stock on the open market in a transaction dated Friday, October 11th. The stock was sold at an average price of $41.30, for a total transaction of $3,230,320.80. Following the transaction, the senior vice president now directly owns 85,427 shares of the company’s stock, valued at approximately $3,528,135. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
KR has been the subject of a number of recent research reports. Analysts at Jefferies Group initiated coverage on shares of Kroger in a research note to investors on Monday, October 7th. They set a “hold” rating and a $45.00 price target on the stock. Separately, analysts at Deutsche Bank initiated coverage on shares of Kroger in a research note to investors on Wednesday, September 25th. They set a “buy” rating and a $46.00 price target on the stock. Finally, analysts at Citigroup Inc. raised their price target on shares of Kroger from $44.00 to $47.00 in a research note to investors on Wednesday, September 25th. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $39.60.
Kroger (NYSE:KR) opened at 41.62 on Tuesday. Kroger has a 52 week low of $23.73 and a 52 week high of $41.72. The stock’s 50-day moving average is $39.2 and its 200-day moving average is $36.55. The company has a market cap of $21.660 billion and a price-to-earnings ratio of 13.85.
Kroger (NYSE:KR) last announced its earnings results on Thursday, September 12th. The company reported $0.60 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.60. The company had revenue of $22.70 billion for the quarter, compared to the consensus estimate of $22.67 billion. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. On average, analysts predict that Kroger will post $2.81 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a dividend of $0.17 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Wednesday, November 13th. This is a positive change from Kroger’s previous quarterly dividend of $0.15.
The Kroger Co is a retailer in the United States. The Company also manufactures and processes some of the food for sale in its supermarkets.
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