Kroger Co. (KR) Rating Lowered to Buy at Vetr Inc.
Kroger Co. (NYSE:KR) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday. They currently have a $33.25 price target on the stock. Vetr‘s target price would indicate a potential upside of 10.43% from the stock’s current price.
Other equities analysts also recently issued research reports about the company. BMO Capital Markets set a $35.00 price objective on Kroger and gave the company a “hold” rating in a research report on Sunday, September 11th. Jefferies Group set a $32.00 price objective on Kroger and gave the company a “hold” rating in a research report on Saturday, October 1st. Telsey Advisory Group cut their price objective on Kroger from $46.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, September 12th. Citigroup Inc. reiterated a “buy” rating and issued a $44.00 price objective on shares of Kroger in a research report on Monday, June 20th. Finally, Zacks Investment Research upgraded Kroger from a “sell” rating to a “hold” rating in a research report on Monday, June 20th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $38.93.
Shares of Kroger (NYSE:KR) traded up 3.65% during midday trading on Tuesday, hitting $30.11. The stock had a trading volume of 17,782,839 shares. The firm’s 50-day moving average price is $30.88 and its 200-day moving average price is $34.45. The firm has a market capitalization of $28.43 billion, a PE ratio of 14.28 and a beta of 0.70. Kroger has a one year low of $28.71 and a one year high of $42.75.
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Kroger (NYSE:KR) last posted its earnings results on Friday, September 9th. The company reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The business earned $26.60 billion during the quarter. Kroger had a return on equity of 32.52% and a net margin of 1.82%. Kroger’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 EPS. On average, equities analysts predict that Kroger will post $2.14 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Thursday, November 10th. Kroger’s payout ratio is 22.86%.
In other news, insider Kevin M. Dougherty sold 31,000 shares of the company’s stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is available through the SEC website. 0.85% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Bank of Montreal Can bought a new stake in shares of Kroger during the second quarter worth about $235,225,000. Capital Research Global Investors increased its stake in shares of Kroger by 9.7% in the second quarter. Capital Research Global Investors now owns 64,888,884 shares of the company’s stock worth $2,387,262,000 after buying an additional 5,748,043 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Kroger by 365.3% in the second quarter. Nordea Investment Management AB now owns 6,121,963 shares of the company’s stock worth $225,227,000 after buying an additional 4,806,246 shares in the last quarter. Janus Capital Management LLC increased its stake in shares of Kroger by 14.8% in the second quarter. Janus Capital Management LLC now owns 35,280,006 shares of the company’s stock worth $1,297,932,000 after buying an additional 4,550,220 shares in the last quarter. Finally, WestEnd Advisors LLC bought a new stake in shares of Kroger during the second quarter worth about $95,812,000. 80.16% of the stock is currently 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.
To view Vetr’s full report, visit Vetr’s official website.
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