Citigroup Inc. Analysts Give Kroger Co. (KR) a $39.00 Price Target
Kroger Co. (NYSE:KR) received a $39.00 price objective from stock analysts at Citigroup Inc. in a report issued on Friday. The brokerage presently has a a “buy” rating on the stock. Citigroup Inc.’s target price indicates a potential upside of 34.48% from the stock’s current price.
Other equities analysts have also recently issued research reports about the stock. Goldman Sachs Group Inc. upgraded shares of Kroger from a “neutral” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Tuesday, July 26th. Deutsche Bank AG dropped their price objective on shares of Kroger from $48.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, June 17th. Hilliard Lyons raised shares of Kroger from a “neutral” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Thursday, June 23rd. Argus dropped their price objective on shares of Kroger from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, September 12th. Finally, Barclays PLC started coverage on shares of Kroger in a research note on Friday, September 23rd. They set an “equal weight” rating and a $33.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Kroger has a consensus rating of “Buy” and an average target price of $38.92.
Kroger (NYSE:KR) traded down 1.26% during midday trading on Friday, reaching $29.00. 11,321,412 shares of the company’s stock traded hands. The firm has a market cap of $27.38 billion, a PE ratio of 13.75 and a beta of 0.70. Kroger has a 52-week low of $28.71 and a 52-week high of $42.75. The firm’s 50-day moving average is $31.16 and its 200 day moving average is $34.66.
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Kroger (NYSE:KR) last announced its quarterly earnings results on Friday, September 9th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.02. Kroger had a net margin of 1.82% and a return on equity of 32.52%. The company had revenue of $26.60 billion for the quarter. During the same quarter in the prior year, the firm earned $0.44 EPS. Kroger’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities research analysts expect that Kroger will post $2.14 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.48 annualized dividend and a yield of 1.66%. Kroger’s dividend payout ratio (DPR) is currently 22.86%.
In other Kroger news, insider Kevin M. Dougherty sold 31,000 shares of the stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $31.05, for a total transaction of $962,550.00. Following the completion of the transaction, the insider now owns 130,857 shares in the company, valued at $4,063,109.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.85% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in KR. North Star Investment Management Corp. raised its position in Kroger by 0.3% in the second quarter. North Star Investment Management Corp. now owns 10,988 shares of the company’s stock valued at $404,000 after buying an additional 29 shares during the period. Silvercrest Asset Management Group LLC raised its position in Kroger by 0.5% in the second quarter. Silvercrest Asset Management Group LLC now owns 13,369 shares of the company’s stock valued at $492,000 after buying an additional 66 shares during the period. Integrated Investment Consultants LLC raised its position in Kroger by 2.8% in the second quarter. Integrated Investment Consultants LLC now owns 3,722 shares of the company’s stock valued at $137,000 after buying an additional 100 shares during the period. Capital Investment Advisors LLC raised its position in Kroger by 1.2% in the second quarter. Capital Investment Advisors LLC now owns 8,305 shares of the company’s stock valued at $306,000 after buying an additional 100 shares during the period. Finally, HGK Asset Management Inc. raised its position in Kroger by 0.9% in the second quarter. HGK Asset Management Inc. now owns 11,540 shares of the company’s stock valued at $425,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 80.17% of the company’s stock.
Kroger Company Profile
The Kroger Co (Kroger) operates retail food and drug stores, multi-department stores, jewelry stores and convenience stores across the United States. The Company also manufactures and processes food for sale in its supermarkets. It operates through retail operations segment. The Company operates, either directly or through its subsidiaries, approximately 2,778 retail food stores under a range of local banner names, approximately 1,387 of which have fuel centers.
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