Kroger’s (KR) “Overweight” Rating Reaffirmed at Morgan Stanley
Kroger Co. (NYSE:KR)‘s stock had its “overweight” rating reissued by investment analysts at Morgan Stanley in a report issued on Wednesday. They currently have a $40.00 price objective on the stock. Morgan Stanley’s price target indicates a potential upside of 28.33% from the company’s current price.
A number of other analysts have also issued reports on the company. BMO Capital Markets lowered 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 lowered their price objective on Kroger from $39.00 to $37.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 7th. Zacks Investment Research lowered Kroger from a “hold” rating to a “sell” rating in a research note on Tuesday, August 30th. Citigroup Inc. lowered their price objective on Kroger from $44.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, August 29th. Finally, Piper Jaffray Cos. reissued an “underweight” rating and set a $29.00 price objective on shares of Kroger in a research note on Friday, June 17th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $38.97.
Kroger (NYSE:KR) traded up 3.59% during mid-day trading on Wednesday, reaching $31.19. The company’s stock had a trading volume of 31,075,677 shares. The stock has a market cap of $29.45 billion, a price-to-earnings ratio of 14.79 and a beta of 0.70. Kroger has a 12-month low of $28.71 and a 12-month high of $42.75. The firm’s 50 day moving average price is $30.88 and its 200 day moving average price is $34.45.
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Kroger (NYSE:KR) last issued its quarterly earnings results on Friday, September 9th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.02. The firm had revenue of $26.60 billion for the quarter. Kroger had a return on equity of 32.52% and a net margin of 1.82%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 earnings per share. On average, equities analysts predict that Kroger will post $2.14 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors 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 dividend yield of 1.54%. Kroger’s dividend payout ratio (DPR) is presently 22.86%.
In related news, insider Kevin M. Dougherty sold 31,000 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 130,857 shares of the company’s stock, valued at approximately $4,063,109.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.85% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. Physicians Financial Services Inc. boosted its stake in shares of 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 boosted its stake 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 last quarter. Advisory Services Network LLC boosted its stake 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 last quarter. Integrated Investment Consultants LLC boosted its stake 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 last quarter. Finally, Barnett & Company Inc. bought a new stake in Kroger during the first quarter worth $145,000. 80.16% of the stock is owned by hedge funds and other institutional investors.
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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