Kroger’s (KR) “Overweight” Rating Reaffirmed at Morgan Stanley
Kroger Co. (NYSE:KR)‘s stock had its “overweight” rating restated by equities research analysts at Morgan Stanley in a report issued on Wednesday. They presently have a $40.00 price objective on the stock. Morgan Stanley’s price objective points to a potential upside of 28.33% from the company’s previous close.
A number of other equities research analysts have also recently commented on the company. BMO Capital Markets cut Kroger from an “outperform” rating to a “market perform” rating and increased their price target for the company from $34.01 to $35.00 in a research note on Tuesday, August 2nd. Royal Bank Of Canada decreased 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 cut Kroger from a “hold” rating to a “sell” rating in a research note on Tuesday, August 30th. Citigroup Inc. reduced their price objective 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. restated an “underweight” rating and issued a $29.00 price objective on shares of Kroger in a research note on Friday, June 17th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $38.97.
Shares of Kroger (NYSE:KR) traded up 3.59% during midday trading on Wednesday, reaching $31.19. 31,075,677 shares of the company were exchanged. The company has a 50 day moving average price of $30.88 and a 200-day moving average price of $34.45. Kroger has a 12-month low of $28.71 and a 12-month high of $42.75. The stock has a market capitalization of $29.45 billion, a P/E ratio of 14.79 and a beta of 0.70.
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Kroger (NYSE:KR) last released its quarterly earnings results on Friday, September 9th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. Kroger had a return on equity of 32.52% and a net margin of 1.82%. The company earned $26.60 billion during the quarter. During the same quarter last year, the business posted $0.44 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, analysts forecast that Kroger will post $2.14 earnings per share for the current fiscal year.
The firm 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. The ex-dividend date is Thursday, November 10th. This represents a $0.48 dividend on an annualized basis and a yield of 1.54%. Kroger’s dividend payout ratio is currently 22.86%.
In related news, insider Kevin M. Dougherty sold 31,000 shares of the business’s 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 sale, the insider now owns 130,857 shares in the company, valued at approximately $4,063,109.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.85% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of the stock. Physicians Financial Services Inc. boosted 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 valued at $112,000 after buying an additional 3,000 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted 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 valued at $119,000 after buying an additional 800 shares during the last quarter. Advisory Services Network LLC boosted 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 valued at $126,000 after buying an additional 3,151 shares during the last quarter. Integrated Investment Consultants LLC boosted 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 last quarter. Finally, Barnett & Company Inc. bought a new position in Kroger during the first quarter valued at approximately $145,000. Hedge funds and other institutional investors own 80.16% of the company’s stock.
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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