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The Kroger (NYSE:KR) shares hit a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report, Analyst Ratings.Net reports. The company traded as high as $50.20 and last traded at $49.96, with a volume of 4,657,151 shares. The stock had previously closed at $47.27.

The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.04. The company had revenue of $32.96 billion for the quarter, compared to the consensus estimate of $32.59 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. The company’s revenue for the quarter was up 9.9% on a year-over-year basis.

Several analysts have recently commented on the stock. Analysts at Oppenheimer initiated coverage on shares of The Kroger in a research note on Monday, June 2nd. They set an “outperform” rating and a $55.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of The Kroger in a research note on Thursday, May 22nd. They now have a $53.00 price target on the stock, up previously from $48.00. Finally, analysts at Ned Davis Research upgraded shares of The Kroger from a “neutral” rating to a “buy” rating in a research note on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. The Kroger currently has a consensus rating of “Buy” and a consensus price target of $44.22.

The stock has a 50-day moving average of $46.95 and a 200-day moving average of $42.41. The company has a market cap of $25.538 billion and a P/E ratio of 16.30.

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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