Kroger Co. (KR) Stock Rating Reaffirmed by Oppenheimer Holdings Inc.
Kroger Co. (NYSE:KR)‘s stock had its “outperform” rating reissued by Oppenheimer Holdings Inc. in a research report issued to clients and investors on Wednesday. They presently have a $40.00 price objective on the stock. Oppenheimer Holdings Inc.’s price objective points to a potential upside of 37.93% from the company’s previous close.
KR has been the subject of several other research reports. BMO Capital Markets downgraded Kroger from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $34.01 to $35.00 in a research note on Tuesday, August 2nd. Royal Bank Of Canada cut their price target on Kroger from $39.00 to $37.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 7th. Zacks Investment Research downgraded Kroger from a “hold” rating to a “sell” rating in a research note on Tuesday, August 30th. Citigroup Inc. cut their price target on Kroger from $44.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, August 29th. Finally, Piper Jaffray Cos. reaffirmed an “underweight” rating and set a $29.00 price target on shares of Kroger in a research note on Friday, June 17th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $38.92.
Shares of Kroger (NYSE:KR) traded down 1.26% on Wednesday, reaching $29.00. 11,322,790 shares of the company’s stock traded hands. The stock has a market capitalization of $27.38 billion, a price-to-earnings 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 stock’s 50-day moving average price is $31.06 and its 200-day moving average price is $34.59.
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Kroger (NYSE:KR) last issued its earnings results on Friday, September 9th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.45 by $0.02. The company had revenue of $26.60 billion for the quarter. Kroger had a net margin of 1.82% and a return on equity of 32.52%. Kroger’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 earnings per share. Equities analysts predict that Kroger will post $2.14 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Thursday, November 10th. Kroger’s dividend payout ratio is presently 22.86%.
In other news, insider Kevin M. Dougherty sold 31,000 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $31.05, for a total value of $962,550.00. Following the completion of the transaction, the insider now owns 130,857 shares of the company’s stock, valued at $4,063,109.85. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.85% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Physicians Financial Services Inc. raised its position in Kroger by 7,500.0% in the second quarter. Physicians Financial Services Inc. now owns 3,040 shares of the company’s stock worth $112,000 after buying an additional 3,000 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in Kroger by 32.7% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,246 shares of the company’s stock worth $119,000 after buying an additional 800 shares during the period. Advisory Services Network LLC raised its position in Kroger by 289.9% in the third quarter. Advisory Services Network LLC now owns 4,238 shares of the company’s stock worth $126,000 after buying an additional 3,151 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 worth $137,000 after buying an additional 100 shares during the period. Finally, Barnett & Company Inc. bought a new position in Kroger during the first quarter worth $145,000. 80.17% of the stock is owned by institutional investors and hedge funds.
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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